M&T Bank announced it will relocate its Mid-Atlantic headquarters to Downtown Baltimore‘s One Light Street tower, which broke ground back in January.
M&T Bank Building (Yardi Matrix)
The anchor lease was inked for a 15-year term, with two five-year renewal options. M&T expects to move in by the end of next year, when it will occupy six floors, totaling 155,000 square feet, as well as having a ground-floor full-service branch. The firm’s new offices will include informal meeting areas, workstation configurations that maximize inflow of natural light, as well as wireless networking and video capabilities. Over 500 employees will relocate to the new headquarters, from the bank’s current Baltimore offices at the M&T Bank Building on South Charles Street, and The Gallery at Harborplace.
One Light Street is a Madison Marquette mixed-use development, which is set to reach a height of 28 stories and incorporate luxury residential apartments along with Class A office space and ground-floor retail. Designed to achieve LEED Silver certification, the project is “the first major ground-up mixed-use tower with a full array of residential, office, retail and parking amenities to serve this core Baltimore neighborhood in decades,” according to a statement by Madison Marquette chairman Amer Hammour. “The closing of our construction financing for this trophy addition to Baltimore’s downtown core ensures that this world-class project will serve as a model for future growth and vitality in one of America’s most beloved port cities,” Hammour added.
Baltimore Mayor Catherine Pugh stated “This investment by M&T Bank and Madison Marquette is a vote of confidence for Downtown Baltimore and demonstrates M&T Bank’s longstanding commitment to the City. This project will transform a vacant downtown site into a modern tower, thus retaining jobs and boosting our City’s economy.”
The Gallery at Harborplace, 111 South Calvert Street, Baltimore (Yardi Matrix)
