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“Since we recently decided not to sell the property we have not formulated any plans yet for marketing it,” said Erin Henson, a spokeswoman for the Maryland Department of Transportation, which owns the site. “We hope to put a marketing strategy in place within the next 60 to 90 days.”
In 1977, the World Trade Center opened with much fanfare and high expectations that it would connect Maryland businesses to the global economy and be leased predominantly to international firms doing business with the state or operating out of the Port of Baltimore. But today, the site houses more law firms and temporary agencies than international companies, and even those numbers are dwindling.
“Clearly, the World Trade Center has not met its goals,” said local economist Anirban Basu, chairman and chief executive officer of the Sage Policy Group.
With more than 300,000 square feet of space and 31 floors with sweeping views of the Inner Harbor, the tower has yet to be the international business magnet officials had promised in its 30 years in existence.
“Is Baltimore as globally connected as it should be? The answer to that is no. Other markets like Cincinnati have more of a global presence than Baltimore, and part of that problem is due to the lack of nonstop international flights from Baltimore/Washington International Thurgood Marshall Airport to Europe. If Baltimore can successfully market itself as an international place to do business, then tenancy rates will increase,” said Basu.
MDOT will be looking to the state’s newly appointed secretary of Business and Economic Development, David Edgerely, to help with marketing the site.
“We know we have to map out a game plan to position, develop and market the building, and we are in the very early stages of that process,” Henson said.
