Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:T. Rowe Price Decides There is No Place Like Home Not Rated 1.0 Email Routing List Email & Route  Print Print
Wednesday, June 30, 2004

T. Rowe Price Decides There is No Place Like Home

News summary by MFWire's editors

Downtown Baltimore will be keeping its largest fund manager after all. After considering a move that could have taken T. Rowe Price out of downtown, officials at the fund shop have instead decided to extent the company's lease on its Pratt Street headquarters, reports the Baltimore Sun.

The paper added that the decision was "greeted with expressions of joy and relief by the city leaders." The lease, which was with Boston properties, was set to expire in 2006. Ray Ritchey, executive vice president of Boston Properties, told the paper that the fund firm signed a letter of intent to extend its lease Tuesday and that he expects a final agreement within two to three months. He expects the agreement to include two five-year renewal options.

The fund firm reportedly did not seek, nor was it granted, and financial concessions by the city to remain in its current location.

After extending the lease, T. Rowe Price will reportedly move an additional 100 workers to its 100 Pratt Street headquarters building and expand it occupancy to a ninth floor. The fund firm currently employs 1,000 workers across eight floors in the building.

James A.C. Kennedy, a director who heads Price's equity division, told the local paper that T. Rowe Price had considered moving the employees in downtown Baltimore to Owings Mills, where the fund firm already occupies four buildings on a 72 acre campus. It also considered other locations in downtown Baltimore.

Most ambitiously, the fund firm also mulled over building a new headquarters in downtown Baltimore. Those plans progressed far enough for the firm to hire Baltimore architects RTKL Associates to design plans of the possible headquarters overlooking the Inner Harbor. That building would have been constructed where a parking lot on Conway at Light streets now exists. The location had been the site of a McCormack Spice factory.

Kennedy told the paper that T. Rowe decided to remain in its current space for a number of reasons. High on the list was the site's proximity to the downtown Amtrak station (a feature that the new headquarters would have shared) and the airport along with many employees' desire to avoid a commute to Owings Mills. The current space also meets the firm's need for a large floor plan. 

Edited by: Sean Hanna, Editor in Chief


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

1.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2025: Q3Q2Q1
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


    Sorry, no records in the database matched your search parameters. Clich back and try again.



  1. Nicsa webinar - New research by Alex Edmans and the Diversity Project - The Power of diverse thinking: How the best teams make decisions, July 1
  2. MFDF Director Discussion Series - Open Forum, July 9
  3. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 10
  4. MFDF Director Discussion Series - Open Forum (Philadelphia), July 15
  5. 2025 MMI Women in Advisory Solutions Forum, Jul 15-16
  6. Nicsa webinar - How Trusted GenAI is Transforming Data Access in Asset Management, July 16
  7. MFDF webinar - M&A and Consolidation in Asset Management, July 16
  8. MFDF webinar - ETF Conversions, July 17
  9. MFDF Director Discussion Series - Open Forum (New York), July 22
  10. MFDF Ask Anything webinar - AI Edition, July 24
  11. MFDF webinar - Use of Derivatives by RICs, July 29
  12. MFDF Director Discussion Series - Open Forum (Columbus, Ohio), August 20
  13. Samfund Soiree Boston 2025, August 21
  14. MFDF webinar - The Audit Committee Chair's Guide to Balancing Duties and Emerging Issues, September 3
  15. ICI ETF Conference, Sep 8-10
  16. Nicsa webinar - Reimagining Reconciliation: AI, Regulation, and Capital Markets Transformation, September 10
  17. MFDF webinar - Series Trust Funds - Compliance and Board Reporting, September 10
  18. MFDF In Focus - Board Oversight of DEI in Current Landscape, September 11
  19. MFDF webinar - MFDF 15(c) White Paper Webinar Series: Part 4 – Enforcement Action Takeaways, September 16
  20. MFDF webinar - Latest in Closed-End Funds Litigations, September 23
  21. MFDF webinar - Fixed Income Insights: Navigating Market Trends & Opportunities, September 24
  22. MFDF webinar - Risk Management Essentials for RICs and Boards, September 29
  23. MFDF webinar - Diligent - Tools for Fund Board Book, October 1
  24. 10th annual Fuse Forum, October 8
  25. MFDF webinar - Essential Strategies in Board Oversight of Operational Risk Management, October 14
  26. 2025 MMI Annual Conference, Oct 15-17




©All rights reserved to InvestmentWires, Inc. 1997-2025
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use