Press Release

American Real Estate Partners (AREP) Completes Transformative Renovation to Historic Candler Building in Baltimore Harbor

February 19, 2019

Returns Iconic Site to Prominence and Reimagines Landmark for the Modern Workplace

WASHINGTON, DC American Real Estate Partners (AREP) announced today completion of its renovations to the Candler  Building,  an iconic  property located in Baltimore’s central business district which  once  housed  the Coca-Cola Bottling Company  and the first headquarters of the United States Social Security Office.   Since its purchase by AREP in 2017, the building—now known  as 700 East Pratt Street—has undergone an extensive revitalization designed to burnish  the property’s industrial grit, bringing to life its authentic architecture and character through inspired  design  features, reimagined workspaces and experiential environments for the modern workplace.

“We  sought to embrace the property’s past while,  simultaneously, layer  the environment with modern and innovative programming elements, giving  new life to the historic 12-story building. The Soho-inspired makeover is at once  nostalgic and new; industrial yet inviting; and urban  chic, yet comfortable,” said Paul Schulman,  Principal  and COO, AREP.  “What we have accomplished at
700 East Pratt is emblematic of the inspired workplace environments we seek to create for all those in our properties.”

Over the course  of nine months, the revitalization worked to transport the property’s industrial roots into a more  modern, welcoming and warm  setting to create a community where  people and businesses thrive.   Highlights include:   a new “industrial chic” interior which  features polished concrete, reclaimed wood,  exposed brick,  period  lighting and preserved historic elements; a boutique-inspired lobby  with experiential areas, a state-of-the-art fitness facility, activated conference area, and direct access  to new perimeter retail punctuated with patio seating that opens  out onto both Market Place and Pratt Street.

The renovations sought to reflect all that is exceptional about the property’s heritage while solidifying the site as the premier destination in Baltimore’s central business  district.

“From a leasing  perspective, transforming the building into a vibrant, welcoming destination for commercial audiences was about more  than just enhancing the physical environment.   It was about how  the functional aspects bring  together people  and place when  effectively curated and executed,” said Michael Gribbon,  Principal  and Executive Managing  Director Leasing,  AREP.  “Our goal was to harness  this sense of place to expand  interest and opportunity in the property by imaginatively addressing the wants, needs  and expectations of the market and the world-class talent who will work  there.”
In anticipation of the renovations, several  notable companies signed  leases or renewed including Hord Coplan Macht, Venable, Johns Hopkins,  CenturyLink, Havas Media Group and Verizon Global Services.

“We  are excited about the opportunity to work  with American Real Estate Partners in leasing 700 E Pratt following the transformation of the project with this wonderful renovation. While we have already  had some  great initial success  with the renovations complete and the retail amenity base in place,  we have seen a meaningful uptick in activity for the remaining vacant space,  said David Downey  of Cushman  & Wakefield, who along  with Bruce Matthai, and Bronwyn LeGette represent AREP.

About American Real Estate Partners
American Real Estate Partners (“AREP”) is a Washington D.C. area based,  vertically integrated fund  manager, developer and operator of Class A real property located in top tier Mid-Atlantic and adjacent markets along  the eastern seaboard of the United States. The firm invests alongside a cross  section of domestic and international institutional partners and since 2003 has acquired 16.3 million  SF of office assets. For more  information about AREP please  visit the
firm’s website at