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INDUSTRY WRAPUPS
Real Estate & Economic Development
Montgomery Park gets 'Ladder 49' lease
Heather Harlan
Staff
The Walt Disney Co. is working its magic inside Montgomery Park.
Get solid leads, competitive intelligence from the Book of Lists.
The media and movie conglomerate has leased about 100,000 square feet at the park's one-story warehouse building, adjacent to the hulking eight-story office complex off Interstate 95 in Baltimore City.
The short-term lease -- about nine months -- gives Disney a production hub as it films "Ladder 49" throughout Charm City, said David Tufaro, a developer of Montgomery Park.
Production, art, wardrobe, accounting and set construction for the movie starring John Travolta and Joaquin Phoenix are housed inside the 630,000-square-foot building.
"They have a warehouse space where they construct sets," Tufaro said. "And they are filming on one set."
Although the lease is expected to end when filming wraps up later in the summer, Tufaro said he is happy with the deal -- especially in a down economy.
Excluding the Disney agreement, about half of the warehouse building is leased. And about 460,000 square feet of space in the 1.3 million-square-foot office complex is taken, Tufaro said.
"There's not a huge amount of activity out there," he said. "But we're seeing the people. We're obviously disappointed when we don't get groups."
Tufaro is hopeful that the St. Paul Cos., in particular, will consider Montgomery Park as part of its relocation from Mount Washington.
Meantime, about 1,700 people work in the office portion of Montgomery Park, including employees from the Maryland Department of the Environment and NCO Group Inc., a Pennsylvania debt collection company.
Montgomery Park, the former Montgomery Ward & Co. warehouse, includes a food court and a fitness center set for completion by the end of June.
The development is not the only one to benefit from a Disney deal. Boxer Property, a Texas-based commercial real estate firm with a Baltimore office, recently inked an agreement with Disney for its office complex at 207 E. Redwood St.
The studio was interested in filming on the roof of that historic building.
Real Estate & Economic Development
Montgomery Park gets 'Ladder 49' lease
Heather Harlan
Staff
The Walt Disney Co. is working its magic inside Montgomery Park.
Get solid leads, competitive intelligence from the Book of Lists.
The media and movie conglomerate has leased about 100,000 square feet at the park's one-story warehouse building, adjacent to the hulking eight-story office complex off Interstate 95 in Baltimore City.
The short-term lease -- about nine months -- gives Disney a production hub as it films "Ladder 49" throughout Charm City, said David Tufaro, a developer of Montgomery Park.
Production, art, wardrobe, accounting and set construction for the movie starring John Travolta and Joaquin Phoenix are housed inside the 630,000-square-foot building.
"They have a warehouse space where they construct sets," Tufaro said. "And they are filming on one set."
Although the lease is expected to end when filming wraps up later in the summer, Tufaro said he is happy with the deal -- especially in a down economy.
Excluding the Disney agreement, about half of the warehouse building is leased. And about 460,000 square feet of space in the 1.3 million-square-foot office complex is taken, Tufaro said.
"There's not a huge amount of activity out there," he said. "But we're seeing the people. We're obviously disappointed when we don't get groups."
Tufaro is hopeful that the St. Paul Cos., in particular, will consider Montgomery Park as part of its relocation from Mount Washington.
Meantime, about 1,700 people work in the office portion of Montgomery Park, including employees from the Maryland Department of the Environment and NCO Group Inc., a Pennsylvania debt collection company.
Montgomery Park, the former Montgomery Ward & Co. warehouse, includes a food court and a fitness center set for completion by the end of June.
The development is not the only one to benefit from a Disney deal. Boxer Property, a Texas-based commercial real estate firm with a Baltimore office, recently inked an agreement with Disney for its office complex at 207 E. Redwood St.
The studio was interested in filming on the roof of that historic building.
