Cordish Asks Baltimore For Power Plant Rent Cut
BALTIMORE (AP) — The Cordish Cos. is asking for $3 million in rent cuts at two city-owned properties in Baltimore’s Inner Harbor Power Plant complex in exchange for improvements of between $6 million and $9 million.
Company officials met Thursday with directors of the Baltimore Development Corp. to outline their plans to keep tenants and attract new ones. The site has been mentioned as the new home of a Phillips Seafood restaurant which recently left its longtime Inner Harbor location nearby.
City and company officials say the Power Plant property is 40 percent vacant following the departures of the ESPN Zone and Gold’s Gym. Leases are also due to expire for two more large tenants, the Barnes and Noble bookstore and the Hard Rock Cafe.
(Copyright 2011 by The Associated Press. All Rights Reserved.)