Alex Brown & Sons Parking Garage - Baltimore, Maryland
Serving as the Baltimore Development Corporation's (BDC) real estate advisor, METROVENTURES provided advisory services and predevelopment analyses for a 400-space parking garage in downtown Baltimore. This project was in support of the BDC's efforts to satisfy the requirements of Alex Brown & Sons, a major corporate office tenant. METROVENTURES provided economic analyses and investment feasibility analyses as well as conceptual design alternatives for the 120,000-square-foot garage, including detailed development cost budgeting and preliminary scheduling. Additionally, METROVENTURES provided an implementation strategy that resulted in the acquisition of seven commercial properties within a very compressed timeframe.
METROVENTURES' predevelopment analysis was used by the
BDC as justification for bond financing commitments of $8 million to the
project. The overall project cost, inclusive of property acquisition and
relocation, was approximately $10 million.