This Week's Baltimore Deal Sheet
The Equitable Building at 10-12 North Calvert St. in downtown Baltimore sold for $25.6M.
Equitable Development LLC sold the building, a former office building that was converted into an apartment tower called The Harriet, to New York-based 12 N. Calvert Owner LLC last month, property records show and the Baltimore Business Journal first reported.
In 2015, Long Island-based JK Equities converted the 129-year-old building from offices to apartments. The company bought the building in 2013 for $7.2M and spent over $30M to transform the asset.
Constructed between 1891 and 1893, the Equitable Building was the first skyscraper in Baltimore, according to a staff report on the building delivered to the Commission for Historical and Architectural Preservation in 2012.
“It was the largest and most highly decorated office building in Baltimore when it was constructed … and is the oldest existing building on Courthouse Square,” the report says. “This commercial building was designed in the Italian Renaissance Revival style by prominent Baltimore architects Charles L. Carson and Joseph Evans Sperry, and features elements of Sullivanesque architecture.”
SALES
The 36K SF Building D at 9160 Guilford Road in Columbia sold for $4.1M last month. S and S Commercial LLC purchased the property from Adler Real Estate Partners. Hyatt Commercial’s Cecil Cummins and Eric Pinkett represented the buyer.
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According to Hyatt Commercial, a pair of tenants at 2400-2406 Mountain Road, operating as Keystone Developers, have purchased the property for $920K. Hyatt Commercial agents Laurie Murphy-Zuiderhof and Treva Ghattas represented the seller, Rome Corner LLC.
LEASES
Bowie-based commercial electrical contractor Power Solutions LLC has leased 94K SF from St. John Properties at Arcadia Business Park in Frederick. Power Solutions now leases 165K SF in total from St. John Properties, including 49K SF in Melford Town Center in Prince George’s County and 23K SF at Ashburn Crossing in Loudoun County.
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The Carroll County Board of Elections plans to relocate its offices to roughly 29K SF in two buildings at Airport Square in Westminster. Lee & Associates Maryland Senior Vice President Bill Harrison and associate Ben Brooks represented the owner, Holland Properties. Board operations and roughly 10 employees will move from the agency’s location at 300 South Center St. in Westminster to its new location late next summer.
DEVELOPMENT
Timonium-based Stonewall Capital broke ground Friday on the second phase of the planned $800M Southfields of Elkton development, the Baltimore Business Journal reports. Plans for this project phase include constructing 300 single-family homes and 325 luxury apartments.
PERSONNEL
St. John Properties has promoted Enomhen “Amy” Odigie to marketing manager. Odigie, who has more than 18 years of marketing experience, has worked at St. John Properties since 2009 and previously served as senior marketing coordinator.
