This Week's Baltimore Deal Sheet
Seawall Development has closed $29M financing for its latest mixed-use project in Baltimore's Remington neighborhood.
The project, branded as The Service Center, is planned to have 25K SF of offices, ground-level retail and 64 apartments on a former industrial site at 2507 North Howard St.
“The Service Center project will build on Seawall’s history of inclusive, community-centered development by continuing the momentum of the past ten-plus years and creating a hub for service and connected urban living,” Matt Pinto, Seawall's development lead for the project, said in a statement.
Seawall has invested heavily in the Remington neighborhood since the firm's founding 15 years ago.
The company's first project was the redevelopment of Remington's former HF Miller & Son Tin Can building into the Miller Court mixed-use building. Since then, Seawall's projects in the neighborhood have included the food hall R. House and the mixed-use Remington Row.
LEASES
Mindful Collective, a coworking space for psychotherapists, inked a lease at 200 East Joppa Road in Towson.
The coworking space opened in the five-story office building in downtown Towson with seven privately owned psychotherapy practice groups — including the concept’s two founders — operating out of the space. Hill Management Services Inc. represented the landlord in the deal.
“The owners of Mindful Collective approached us with an extremely thoughtful and creative business plan that addressed a specific need in the healthcare community and we instantly recognized the value of this concept,” Danielle Beyrodt, vice president and chief operating officer of Hill Management Services, said in a statement.
SALES
The gut-renovated Astor Court building at 2440 St. Paul St. in Baltimore's Old Goucher neighborhood has sold for nearly $4.97M, according to broker Harbor Stone Advisors. The building dates back to 1930, and the owners completely rehabbed it in 2006.
Astor Court features 36 apartments, including a mix of one-bedroom and two-bedroom units. The building also includes four commercial spaces with one leased by Charles Village Community Benefits District.
***
A new owner has purchased the property at 814 Park Ave. in Baltimore's Mount Vernon neighborhood and intends to complete a five-story multifamily building planned for the site by the previous owner, according to Greysteel, the seller's broker.
The broker didn't disclose the name of the new buyer or its client. However, state property records list the most recent owner as Mizra Hussain Baig and Amina J Baig, who paid more than $1M for 814 Park Ave. in 2016.
***
Johns Hopkins University purchased the office building at 2701 North Charles St. in Baltimore's Charles Village neighborhood, according to the Baltimore Business Journal. State property records show the university purchased the property on March 3 for $9.9M from 201 LLC.
DEVELOPMENT
Baltimore's historic preservation committee approved the demolition of the Hendler Creamery building remains, according to Baltimore Fishbowl.
The building dates back to 1892, when it served as a power station for the city's trolley system, but Hendler Ice Cream Co. converted the building into the nation's first fully automated ice cream factory in 1912.
The facade is the only piece of the Jonestown landmark left standing. Commercial Group started demolition on the property previously to make way for an apartment project that fell through.
The building’s remains sat in disrepair for years before its neighbor, the nonprofit Helping Up Mission, purchased the property in November.
