NEW YORK, Dec. 17, 2019 (GLOBE NEWSWIRE) -- Zamir Equities announces the successful acquisition of 36 S. Charles St., right in the heart of Baltimore’s up-and-coming Central Business District. An iconic twenty-five-story Class-A office building with nearly 314,000 square feet available for commercial use, 36 S. Charles already boasts an impressive list of long-term anchor tenants including the US Attorney’s Office, Peter T Nicholl Esq. and City of Baltimore Development Corp.
“We are excited about our first acquisition in the Baltimore CBD market (and in the state of Maryland) as we expand our office portfolio with the acquisition of 36 S. Charles Street,” commented Asher Zamir, CEO of Zamir Equities. “Our equity investment and extensive operational experience will enable us to make significant capital expenditures to this best-in-class building – it’s part of our long-term business plan to increase building occupancy over the next few years.”
In recent years, strong economic growth has led to a revitalization of Baltimore’s CBD neighborhood, and 36 S. Charles is expected to benefit from both the upside of the renewal efforts and from the continued growth of the city center as a live-work-play environment with an extremely active pipeline of government, corporate, retail, and residential projects.
One block away from 36 S. Charles is the city’s scenic Inner Harbor, the center of revitalization efforts in Baltimore, which is already drawing significant tourism traffic. All the new developments solidify the Inner Harbor and the Central Business District as an extension of the traditional residential neighborhoods that surround Downtown, showing that investors, residents, and tourists are uniting to transform the area into a prime destination location.
36 S. Charles is ideally situated in HUB and Enterprise zones with the Metro less than a block away. There’s also excellent access to I-95, I-83, the Light Rail System, and the Camden Station of the Maryland Rail Commuter (MARC), which provides high-speed access to Washington D.C. and to other major East Coast cities.
In addition to its prime location, 36 S. Charles has made notably competitive through recent modernization efforts. $6.5 million has already been invested into base building improvements and updates to the lobby, conference center, and elevators. In addition, the building offers sought-after amenities such as cafes, onsite storage, and an onsite parking garage.
Zamir Equities also plans for additional capital improvements coming soon, including further modernization of the elevators, upgrades to the common areas, enhanced building security, and a new boutique coffee shop, just for starters.
About Zamir Equities
Founded in 2003 by Asher Zamir, Zamir Equities is a privately held New York City-based, integrated real estate private equity firm. Currently, Zamir Equities cumulatively owns and manages approximately 3.5 million square feet of commercial properties. Since its inception, Zamir Equities has executed more than $1 billion in commercial real estate transactions and has managed more than 6 million square feet in commercial and residential properties along the East Coast. Recognized for their astute acquisition proficiency, along with unparalleled real estate management, leasing, and marketing experience, Zamir Equities specializes in risk-adjusted market returns in both undervalued and stabilized real estate assets.
Media Contact
Zamir Equities
Moshe Shalom
212-277-6477 x804
media@zamirequities.com