Commercial Real Estate Direct Staff Report
Kornblatt Co. is offering for sale 200 St. Paul Plaza, a 266,672-square-foot office property in downtown Baltimore.
CBRE has the listing for the property, which is expected to sell for $54 million, or about $202/sf. The sales price would result in a capitalization rate of 8 percent based on the $4.3 million of net operating income the property is projected to generate in the first year of investment, according to the broker.
That compares to the $2.6 million of NOI the property was on-track to generate last year,...
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