metropolitanpartnership

metropolitanpartnership

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10 Light Street

BALTIMORE, MD

SOUTH ELEVATION PHOTO CROP

With the depth of experience gained from the Historic Preservation of 1101 Pennsylvania Avenue and the adaptive reuse of 259 Worth Avenue in the heart of the Palm Beach Historic District, Metropolitan purchased 10 Light Street in 2012 and will commence its Historic renovation and conversion to residential use. The 520,000 square foot, 34 story structure will be converted to 445 for-lease residences.

The building, currently known as The Bank of America Building, formerly the Baltimore Trust Company Building, is a 509 foot skyscraper located in the heart of Baltimore’s Historic Financial District, at the corner of East Redwood and Light Streets. It is the most architecturally signifiant building on the Baltimore skyline.  When completed in 1929, it was the tallest building in the state, and the tallest office building in the United States south of New York City.  The Art Deco building is fashioned from Indiana limestone and local brick over a steel frame. The building’s exterior is decorated with carved, Mayan Revival-style images and is capped with a copper and gold mansard roof. The ornate, four-story main colonnaded lobby is decorated with mosaic floors and historic murals depicting Baltimore’s history.
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Plans for the conversion of the building to residential use are being developed in conjunction with the Downtown Partnership of Baltimore, Baltimore Mayor Stephanie Rawlings-Blake, and the Baltimore Development Corporation.  For the last several months, these agencies have worked with the previous owner and the developer on plans for its sale and conversion to residential use.  It’s redevelopment will continue the strong residential growth pattern in the center of the historical financial district. The area, known as City Center, contains The 401, Baltimore’s fastest-growing residential neighborhood according to the 2010 U.S. Census. Housing demand research by Downtown Partnership, shows market demand for 5,800 new apartments in Downtown Baltimore over the next five years. The same neighborhood contains the highest concentration of office and employment uses in the city making for a dynamic walk to work environment fully supported by the retail of the Inner Harbor.
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Adding retail and hundreds of new residents to the City Center will bolster a 24-hour life and critical mass of people in this important section of Downtown. The building, at 34 stories, has unsurpassed views of the city skyline and the Inner Harbor.
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Other recent redevelopment efforts by the developer includes last year’s submission to the GSA to convert 1100 Pennsylvania Avenue (the historic Old Post Office) to a Waldorf Astoria hotel with a full compliment of destination retail on Pennsylvania Avenue in Washington, D.C.  Shortly thereafter, Metropolitan engaged the same preservation experts to formulate a redevelopment plan for conversion of Baltimore’s most iconic landmark, 10 Light Street, to residential and retail use.

info@metropolitanpartnership.com

Metropolitan Partnership, Ltd.

 703.442.9500.  10740 Parkridge Blvd. Suite 120. Reston, VA 20191.  ceuwer@metropolitanpartnership.com

Metropolitan Partnership, Ltd. is a U.S. development firm with principal operations in the Washington, D.C. metropolitan area and the Eastern U.S. It was formed in 1984. Among its projects are the historic Evening Star Building, Tysons International Plaza and Fairfax Square, all designed by David Childs, FAIA of Skidmore, Owings and Merrill as design principal.

After completing graduate programs at Cornell and Harvard in 1979, Cary Euwer joined the established and well respected development firm of Cabot, Cabot & Forbes in Boston, Massachusetts. With initial training on the completion of 60 State Street, Euwer then set up CC&F’s Washington, D.C. office to develop 1201 Pennsylvania Avenue. With the completion of this 427,000 square foot landmark, Euwer obtained the development rights to a prime block in Baltimore’s Inner Harbor. That development, known as 250 West Pratt Street, commenced construction of its 26 story tower in 1983.

With five years of valuable training and development of nearly a million square feet, Euwer founded Metropolitan Partnership, Ltd. in 1984. The initial projects in planning were 1101 Pennsylvania Avenue, Tyson’s International Plaza and Fairfax Square. Together, these projects totaled over one million square feet and were completed by 1991.

With the development of Fairfax Square which involved 150,000 square feet of high-end retail, Metropolitan forged relationships with a number of luxury retailers. These relationships led to developments from Florida to New York for clients such as Tiffany & Co., Hermes of Paris, Saks Fifth Avenue and Lacoste.

As Metropolitan’s expertise in retail grew, further opportunities followed. In 1998, Metropolitan was contracted to provide the development skill necessary for the retail repositioning of 1500 Broadway located in the heart of Times Square. The three year long project culminated in the five floor construction of the studios for ABC and the Disney Studio.

In 1998, Metropolitan formed a joint venture with Koll Development Company, the nation’s fifth largest office developer, to develop over 400,000 square feet of first class office space in Northern Virginia. As the nation’s strongest office market, these developments quickly pre-leased and became the corporate headquarters of XO Communications and Net2000.

Expanding on it’s retail relationships, Metropolitan developed a 900,000 sf open air center in Richmond, Virginia anchored by Target, Regal Cinemas and Golds Gym.

In 2011, Metropolitan joined with Hilton Worldwide link in response to the General Service Administration’s request for proposals to redevelop the Old Post Office at 1100 Pennsylvania Avenue, Washington D.C.  The Hilton-Metropolitan submission to the GSA includes Hilton’s iconic branding as a flagship Waldorf Astoria hotel joined by many of  Metropolitan’s retail relationships.

DEVELOPMENT SERVICES

In addition to wholly owned and joint venture properties, Metropolitan Partnership has contracted with other owners of real estate to advise and develop properties on a fee basis.

See PROJECTS to browse our portfolio.

RETAIL

See RETAIL to browse our retail projects.

CONSTRUCTION

Metropolitan has managed more than $300 million of new construction since 1984. We have represented the sole interests of the property owner in the construction of large commercial office buildings, office tenants, high end retail stores, even underground tank removal projects.

As the Construction Manager, we have started with a concept, built a team of architects, engineers, consultants, general contractor, testing & inspection companies, and managed large and small scale construction projects from beginning to end.

Consulting Services:

Development of Overall Construction Program and Budget, Development of Master Schedules, Tenant’s Construction Representative, Administer Lease Requirements, Cost Estimation, Value Engineering, Selection of Project Consultants, Engineers and Specialists, Review of Design, Professional Agreements, Coordination of Architect, Engineers and Other Design Professionals, Construction Contract Document Reviews, Review and Analyze Construction Plans for Accuracy, Obtain Building Permits, Bid Packaging and Organization, Coordinate Inspections By Architect and Engineer, Quality Control Inspection, On Site Monitoring and Observation, Coordination of Utility and Service Requirements, Project Accounting, Pre-Qualification and Selection of Contractors, Coordination of Owner’s Vendors, Suppliers and Subcontractors.

FAIRFAX CONTRACTORS

Some of the finest retailers in the world have selected The Fairfax Company, a wholly owned affiliate of Metropolitan, as their General Contractor. Clients such as Tiffany & Co., Louis Vuitton, Saks Fifth Avenue and Mark Cross demand the same level of service from a General Contractor that they are accustomed to providing to their own customers.

See FAIRFAX CONTRACTORS for more information.

ASSET MANAGEMENT

Having provided asset management for over 1.8 million square feet of commercial property, Metropolitan Partnership, Ltd. is keenly aware of the crucial importance of putting the goals and objectives of the Owner into reality. Because of this, Metropolitan is committed to conscientious planning and to optimizing the returns a property is capable of generating. While the chief focus of asset management is financial return of the property (both short and long term), asset management is also responsible for the integration of all leasing and marketing efforts toward achieving the return goals desired by the Owner.

Metropolitan’s asset management team is involved in all aspects of the performance of the on-site management and leasing team. Since the financial return of the property is directly related to the efforts of this team, Metropolitan periodically reviews and, if necessary, adjusts the efforts of the on-site team to assure optimum performance.. In addition, asset management is also concerned with legal and environmental concerns of owning real property. Whether the issue is Americans with Disabilities Act or CFC’s, Metropolitan will apprise the Owner of its responsibilities and ensure compliance in a cost effective manner.

With careful management and effective implementation, Metropolitan’s asset management service is able to not only preserve an Owner’s physical asset but also maximize the yield and enhance its value.

PROPERTY MANAGEMENT

Metropolitan Management, Inc. is a full service property management firm dedicated to providing both tenants and owners with comprehensive, professional services in financial and operational management. Formed in 1987, Metropolitan
Management has managed a portfolio of over 1.8 million square feet of office, retail and industrial properties. The company has successfully served the needs of such nationally known office and retail tenants as AT&T, Merrill Lynch, Ernst & Young, and Tiffany & Co.

Our reputation for successful tenant relations is based on anticipating, understanding and responding quickly to tenant requests. The beneficial result of Metropolitan Management’s comprehensive management services is not only tenant satisfaction and retention but also steady asset appreciation.

Services Provided: Metropolitan Management provides a full scope of property management services to fit its clients’ objectives. We can customize your needs to include Asset Management, Financial Management, Tenant Construction and Capital Improvement, Supervision, Mechanical Equipment Maintenance Administration, Security, and Facilities Management.

Development Services

In addition to wholly owned and joint venture properties, Metropolitan Partnership has contracted with other owners of real estate to advise and develop properties on a fee basis.

Visit our Retail, Urban, Suburban, Warehouse and Land Development Project pages to browse our portfolio.

Retail Consulting

As part of its overall package of retail services, Metropolitan Partnership, Ltd. advises retail clients in matters relating to strategic planning and demographic analysis enabling them to grow and expand in major metropolitan markets world wide. Clients including Tiffany & Company and Hermès of Paris have grown and expanded into markets such as Washington, D.C. and Palm Beach with the assistance of Metropolitan.

Metropolitan assists the client to gather demographic and psychographic data, profile their customer, target specific markets, solicit lease offerings, complete financial analysis, and negotiate their leases. We have assisted retailers in the selection of their architect and contractors as well as served as their construction manager or general contractor. Further services available to the client include coordination of opening events, and the training of store personnel regarding facilities operations through the production of “The Store Manager’s Guide to Facilities Operation”.

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Retail Leasing

Business Description: Realizing the specialized needs in the leasing of luxury and high-end retail, the Metropolitan Companies formed a division dedicated to marketing real estate specifically to high-end retailers. The first project, Fairfax Square, located in Tysons Corner, Virginia was successfully leased in its first full year of operation and anchored by Tiffany & Company, Hermès of Paris, Gucci, Louis Vuitton, and Fendi.

Metropolitan then went on to lease 259 Worth Avenue in Palm Beach and was retained to lease La Strada, a high-end mixed-use project in Mexico City.

Services Provided: As part of the overall package of leasing services provided to our clients as tenants or landlords, Metropolitan can provide market analysis, demographic analysis, construction budgeting, lease negotiation, and construction coordination.

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The Fairfax Company

Some of the finest retailers in the world have selected The Fairfax Company, a wholly owned affiliate of Metropolitan, as their General Contractor. Clients such as Tiffany & Co., Louis Vuitton, Saks Fifth Avenue and Mark Cross demand the same level of service from a General Contractor that they are accustomed to providing to their own customers.

The Louis Vuitton store in Tysons Corner (shown above) illustrates the unique needs of the high-end retailer. In order to open for the Holiday shopping season, the store was constructed on a 24 hour a day schedule allowing completion in only three weeks. Renovation of Tiffany & Co. (Fairfax Square) was performed in all after hours work shifts to avoid conflicts with their store hours.

Saks Fifth Avenue’s first floor renovation in Chevy Chase was also completed on schedule using after hours work crews. Our construction management team, at the request of our retail clients, have traveled to New York, Philadelphia and Florida to provide construction management and supervision on a number of high profile projects.

Founded in 1990, The Fairfax Company has completed an impressive portfolio of interior construction projects. The company was established and has rapidly expanded its market share based on a simple philosophy, “exceed the expectations of the client.”

Whether providing an accurate conceptual budget for effective lease negotiations or coordinating the team members to ensure a fast-track schedule, the final results accurately represent the success of this philosophy. Corporate clients such as AT&T, Merrill Lynch (below), PaineWebber and Cable & Wireless have all become repeat clients as a result of The Fairfax Company’s ability to exceed their expectations.

The Fairfax Company’s specific expertise is tenant construction and interior renovation. A wide range of services, including General Contracting, Construction Management, Design/Build and Preconstruction Services are tailored to our client’s specific needs. Each project is approached with the goal of providing the highest quality workmanship while working within the prescribed budget and time constraints.


Construction Management

Metropolitan has managed more than $1 billion of new construction since 1984. We have represented the sole interests of the property owner in the construction of large commercial office buildings, office tenants, high-end retail stores, even underground tank removal projects.

As the Construction Manager, we have started with a concept, built a team of architects, engineers, consultants, general contractor, testing & inspection companies, and managed large and small scale construction projects from beginning to end.

Consulting Services

Development of Overall Construction Program and Budget, Development of Master Schedules, Tenant’s Construction Representative, Administer Lease Requirements, Cost Estimation, Value Engineering, Selection of Project Consultants, Engineers and Specialists, Review of Design, Professional Agreements, Coordination of Architect, Engineers and Other Design Professionals, Construction Contract Document Reviews, Review and Analyze Construction Plans for Accuracy, Obtain Building Permits, Bid Packaging and Organization, Coordinate Inspections By Architect and Engineer, Quality Control Inspection, On Site Monitoring and Observation, Coordination of Utility and Service Requirements, Project Accounting, Pre-Qualification and Selection of Contractors, Coordination of Owner’s Vendors, Suppliers and Subcontractors.

Asset Management

Having provided asset management for over 1.8 million square feet of commercial property, Metropolitan Partnership, Ltd. is keenly aware of the crucial importance of putting the goals and objectives of the Owner into reality. Because of this, Metropolitan is committed to conscientious planning and to optimizing the returns a property is capable of generating. While the chief focus of asset management is financial return of the property (both short and long term), asset management is also responsible for the integration of all leasing and marketing efforts toward achieving the return goals desired by the Owner.

Metropolitan’s asset management team is involved in all aspects of the performance of the on-site management and leasing team. Since the financial return of the property is directly related to the efforts of this team, Metropolitan periodically reviews and, if necessary, adjusts the efforts of the on-site team to assure optimum performance. In addition, asset management is also concerned with legal and environmental concerns of owning real property. Whether the issue is Americans with Disabilities Act or CFC’s, Metropolitan will apprise the Owner of its responsibilities and ensure compliance in a cost effective manner.

With careful management and effective implementation, Metropolitan’s asset management service is able to not only preserve an Owner’s physical asset but also maximize the yield and enhance its value.