Columbus
Baltimore Business Journal
Rockville bank taps Baltimore industry veteran to lead local office
A Rockville bank wants to expand its Greater Baltimore business banking presence and has hired Todd Warren, a veteran local banker, to go after customers in the area.<\p> Warren will be Capital Bank's market executive for the Greater Chesapeake and Baltimore regions. Warren comes to Capital Bank from Philadelphia-based Firstrust Bank, where he served as director of commercial banking for its Maryland operations. He will oversee the Capital Bank’s new Baltimore lending office that opened in Towson earlier this year. <\p>
The coveted perk that could be critical for workforce development
As the focus shifts from recruitment to retention in a still-tight hiring market, many employers are searching for the incentives that will retain workers. <\p> While perks like four-day workweeks, unlimited vacation and remote work are often in the spotlight, another coveted perk is career development and upskilling opportunities. <\p>
Hunt Valley office park signs seven new tenants
A four-building Hunt Valley office complex is getting ready to welcome seven new tenants despite an ongoing lull in Greater Baltimore's commercial real estate market. <\p> Owners of Executive Plaza at 11350 McCormick Road recently inked the flurry of deals that include expansions of existing leases and renewals. The new pacts total 35,300 square feet, said brokers with Hill Management Services, which owns the complex.<\p>
Growing share of real estate agents weigh leaving their brokerages
The Covid-19 pandemic and a recent wave of class-action lawsuits have pushed more real estate agents to consider leaving their brokerages.<\p> Those findings, from the latest annual Agent Priorities Report from Coldwell Banker Real Estate, found while 61% of agents surveyed plan on sticking with their company this year, that’s down from 75% in 2023.<\p>
Veteran video game developer raises $6M to create 'Sims'-style game
The designer behind some of Sparks-based Firaxis Games' most popular properties — like the science-fiction franchise XCOM and Marvel’s Midnight Suns — is launching his own video game startup to try out a new, less violent genre. <\p> Midsummer Studios, the brainchild of former Firaxis creative director Jake Solomon, launched Tuesday morning with $6 million in venture capital led by the Transcend Fund, with participation from Tirta Ventures, Betaworks Ventures, 1Up Ventures, F4 Ventures, Krafton and Day Zero Productions. Solomon will use the money to create a story-focused life simulation game similar to popular franchises like The Sims. The industry veteran is trading calculating health points and damage for programming a game based on the nuances of everyday life. <\p>
8 things to know: Expanding tech firm names new chair, COO
Good morning readers and happy Tuesday.<\p> It hasn't taken long for the pickleball craze to reach boardrooms across the country. Kelly Benefits, one of Maryland's largest employee benefits administrators, has added courts to its property. The Sparks-based company's courts were installed by Timonium's Interlock Paving and are available to employees, plus clients and other groups when requested.<\p>
Downtown office tower up for grabs with $10M price tag
The modern Sun Life building is the latest Baltimore office tower to hit the market amid a cascade of commercial sales and auctions downtown.<\p> The structure at 20 S. Charles was listed on Tuesday for $10 million by Trout Daniel & Associates, a Timonium brokerage that specializes in office and retail leasing and sales. Owner 20 South Charles LLC is eager to sell, said Gilbert Trout, a principal with the firm who is handling the deal.<\p>
Station North night club, retail buildings to hit auction block
A set of buildings containing a longtime nightclub and a former barbershop in Baltimore's Station North neighborhood will hit the auction block next month.<\p> The buildings at 1813, 1815 and 1817 N. Charles St., which house Trip’s Place and Gatsby’s, and a building at 1819 N. Charles St. will be available for an online and onsite auction starting June 11 and ending June 12. A sale of the nightclub buildings also includes a liquor license, live entertainment permit and furniture.<\p>
Historic complex near Little Italy hits the market for $5.4M
A historic event venue and boutique inn steps from Little Italy has hit the market for $5.49 million.<\p> 1840s Plaza was listed last week by Harrington Commercial Real Estate. The property is located off the Fallsway near the Reginald F. Lewis Museum of Maryland African American History & Culture and spans two addresses: the former Fava Building at 29 S. Front St. and 50 Albemarle St., the former Baltimore City Life Museums building that today holds a boutique bed and breakfast named 1840s Carrollton Inn. <\p>
Airline credit-card reward programs in regulators' crosshairs
The nation's major airlines are drawing heat over their branded credit-card reward programs, with federal regulators targeting consumer complaints that claim many perks don't live up to the hype and sometimes cost more than they are worth. Those findings...
Two restaurants join forces for new Little Italy venture
The owners of two restaurants that have announced closures in the last month are now partnering on a new concept.<\p> HoodFellas Bistro & Catering and RYMKS Bar & Grille plan to open a “modern American” barbecue restaurant called Soul Street at 819 E. Pratt St. on May 28. The new restaurant comes after both Baltimore eateries announced plans to close – HoodFellas closed its downtown location in April and RYMKS announced last week that it would close May 19. <\p>
Private equity firm closes $350M acquisition of Baltimore company
A Texas private equity firm completed its $350 million acquisition of one of Baltimore’s largest cybersecurity companies Monday, taking one of the region's few public companies off the stock market. <\p> ZeroFox Holdings Inc. (Nasdaq: ZFOX) was officially acquired by Austin, Texas-based Haveli Investments Monday morning, ending a process that began in February. The company will continue to exist as a subsidiary of Haveli, according to documents filed with the U.S. Securities and Exchange Commission. <\p>
Orioles owner shares nine life lessons with American University grads
Read often. Practice humility. Be persuasive.<\p> Those are among nine tenets for a solid and successful path heading out of college that Baltimore Orioles owner David Rubenstein shared with graduates of the Kogod School of Business at American University on Friday. <\p>
Laguna Beach jewelry brand to open first Baltimore location
A fast-growing jewelry brand based in Laguna Beach, California, will continue its expansion into Maryland with its first Baltimore store. <\p> Gorjana will open a 1,350-square-foot store at the corner of Aliceanna and Exeter streets in Harbor East this summer, Harbor East Management Group announced Monday. The store will take over a space formerly occupied by MAC Cosmetics next to the Courtyard Baltimore Downtown/Inner Harbor hotel and marks the second Maryland location for the brand.<\p>
Maryland college receives $15M to create global business school
Washington College in Chestertown has received the largest donation from an individual in its 242-year history for the creation of a new global business school.<\p> Alumna Elizabeth Warehime, class of 2013, gifted the college $15 million to launch the Warehime School of Global Business, Economics, and Social Impact. The majority of the donation is a capital gift to build a new business school building and will help the college earn accreditation for the new program. The school will be an interdisciplinary program blending Washington College's existing business management major with other liberal arts courses in economics, finance and international politics.<\p>
Why Amazon's recent moves bode well for a cooling CRE market
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals. We'll take a look today at a bankruptcy health care system's hospital sale; a $3.3B investment from Microsoft that will help establish an artificial intelligence hub; and what you need to know about upcoming changes to overtime rules. But we'll start with the dynamics in this once-hot commercial real estate subsector.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
Higher-for-longer rate environment means more uncertainty for CRE
Commercial real estate investors, owners and occupiers all have been monitoring whether the Federal Reserve will impose interest-rate cuts in 2024 after rapidly rising rates have substantially increased the cost of doing business.<\p> Earlier this month, the Fed signaled it needed to see more progress toward its inflation target of 2% and decided to maintain its key lending rate. At that meeting, Fed Chairman Jerome Powell said gaining greater confidence around inflation "will take longer than previously expected," although he also said he felt inflation would move back down in 2024.<\p>
8 things to know: Largest logistics center in Maryland opens
Good morning readers. Welcome to a new week.<\p> The Northern Lights were all the rage this weekend, as Americans throughout the North were treated to the auroras creeping into the lower 48. The lights even stretched to New York City, but cloud cover prevented a lot of the best views.<\p>
Developer sues over purchase agreement for former hotel property
A Baltimore developer that sought to acquire a shuttered Hunt Valley hotel property for $19 million has sued to recover its deposit after a purchase agreement fell through. <\p> Atapco Properties, based in downtown Baltimore, filed a lawsuit May 6 in the U.S. District Court of Maryland against DOF IV Hunt Valley LLC, the owner of the Delta Hotels Baltimore Hunt Valley property. The suit comes after several months of negotiations between the two companies over the sale of the 18-acre property that started just before the hotel’s closure at the end of October. <\p>
Crofton electrical company sells to industry veterans
Two industry veterans with more than 60 years of combined experience have purchased an electrical company of their own.<\p> Chris Sanders and Greg Wisor used to work for a Washington D.C.-area electrical company that ballooned in size after receiving investment from a private equity company. The duo decided they wanted to go back to working for a small independently owned company, and purchased T&B Electric, a 30-year-old company based in Crofton that does about $10 million in revenue annually. Sanders and Wisor have plans to grow the small business with around 45 employees by breaking into the electrical servicing industry.<\p>
Baltimore Business Journal
4K+
Posts
646K+
Views
The Baltimore region's source for local business news, breaking news alerts, newsletters, business intelligence and local business networking. An American City Business Journals publication.
Welcome to NewsBreak, an open platform where diverse perspectives converge. Most of our content comes from established publications and journalists, as well as from our extensive network of tens of thousands of creators who contribute to our platform. We empower individuals to share insightful viewpoints through short posts and comments. It’s essential to note our commitment to transparency: our Terms of Use acknowledge that our services may not always be error-free, and our Community Standards emphasize our discretion in enforcing policies. We strive to foster a dynamic environment for free expression and robust discourse through safety guardrails of human and AI moderation. Join us in shaping the news narrative together.