American Can Company

Property Overview: American Can Company is a 205,000 SF mixed-use building located on Baltimore’s inner harbor. The property consists of 155,000 SF of creative office space leased to credit tenancy (e.g. AOL, owned by Verizon), 50,000 SF of retail leased to a mix of national and local tenants and more than 300 parking spaces. Located in the vibrant waterfront neighborhood of Canton, the property is uniquely positioned as one of Baltimore’s premiere “creative use” buildings with superior on-site amenities and accessibility to Baltimore's top population centers.

Investment Overview: Acram Group was awarded the deal after several buyers couldn't close, thereby securing a price significantly below its original bid. The purchase price represents an initial yield exceeding 8.0% that will stabilize to north of 9.0% upon lease-up of existing retail vacancy.