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ROCKVILLE, MD – 6/4/2024 – Scheer Partners Inc., a leading provider of fully integrated commercial real estate services in the Mid-Atlantic, announced today inking two new life science leases at BeMoreLabs located at 6200 Seaforth St. in Baltimore.
The BeMoreLabs team, led by East Capital Partners and Scheer Partners signed long-term leases with the State of Maryland for 7,200 SF and InfinityBio for 9,000 SF creating the first positive absorption in the Baltimore Life Science Market in six quarters.
The two new leases come as a result of ownership’s significant investment in the building, including complete exterior and façade renovations, outdoor collaboration space, upgraded mechanical systems and generator, and the construction of two spec suites that these tenants were able to utilize and occupy very quickly. These are also the first leases signed since the building rebanded as BeMoreLabs in an effort to support and attract local Baltimore-based life science companies in their research efforts.
Additionally, three more spec suites ranging from 2,000-3,000 SF are being designed along with common area amenities, such as a tenant lounge and shared conference rooms. BeMoreLabs also offers 12,000 SF of existing vivarium space, the only vacant available vivarium space in Baltimore.
Senior Vice President, Katie Datin said,” The investments that the ownership has made in this facility puts us in the fortunate position to be one of the more active life science buildings in the Baltimore market. Both InfinityBio and the State were tremendous to work with and we are thrilled to welcome their science to the building.”
“We are excited to welcome InfinityBio and the State of Maryland to BeMoreLabs,” said David Archibald of East Capital Partners. “This project offers growing life sciences companies state of the art lab space not otherwise available in Baltimore. We look forward to welcoming additional companies that appreciate high quality space in close proximity to Canton Crossing, Fells Point, Johns Hopkins University, and University of Maryland.”
Drew Dewitt and David G. Archibald, Co-Founders of East Capital Partners worked closely with the teams at Scheer Partners and Brooks Advisors to secure the leases. Nathan Crowe and Katie Datin with Scheer Partners represented BeMoreLabs. Matt Brady and Andrew Davis, also with Scheer Partners, represented InfinityBio and Harvey Brooks of Birch Advisors represented the State of Maryland.
BeMoreLabs, located at 6200 Seaforth Street in Baltimore, Maryland, has delivered top-of-the- line lab space to support the Baltimore Metro scientific community. Ownership continues its investment in the building and the area with the design of additional spec suites and tenant amenities. The building sits in an opportunity-zone, offering additional economic incentives to tenants with easy access to I-95 as well as the modern amenities of Canton Crossing, which includes more than 30 retailers and restaurants such as Target, Harris Teeter, Ulta, Nordstrom Rack, Chick-fil-A, Papa Johns, Mission BBQ and DSW.
About Scheer Partners
Founded in 1991, Scheer Partners is a full-service commercial real estate firm headquartered in Rockville, Md. With a focus on the greater Mid-Atlantic region, Scheer Partners’ fully integrated services include tenant and landlord representation; strategic planning consulting; facilities and construction management; and investment sales, acquisitions and development.
About East Capital Partners
East Capital Partners is 100% privately owned, with no outside shareholders, its co-founders make significant personal investments into each deal. EAST believes this model leads to strong alignment with our investors and promotes strategic focus and investment discipline. With $7.4 Billion invested in all major US markets, our approach to value creation ranges from the less intensive – improving existing operations, leasing, and renovations – to more intensive activity such as major repositioning, change of use, and ground-up development. Regardless of strategy our focus is on the end-user value.
Media Contact:
Ji Chang
Director of Marketing
Scheer Partners, Inc.
240.261.4550
jchang@scheerpartners.com
