BALTIMORE, MD-A parking lot on East Pratt has traded—a well-located lot that has the potential for 600,000 square feet of development. The parcel is located at 300 East Pratt St. It traded to Interpark Holdings, a private investor of parking assets. Cushman & Wakefield's capital markets team of Cristopher Abramson, Brian Kruger, Nicholas Signor and Jonathon Chalkley and broker Courtenay Jenkins brokered the sale on behalf of seller, UrbanAmerica Advisors, LLC.
300 East Pratt St. has an enviable location bordering the Inner Harbor. Nearly one acre, it is currently used as a surface parking lot. More to the point, it is the last remaining parcel of land on Pratt Street. In a prepared statement, Abramson calls it one of the best development sites left in Maryland.
The site has been a parking lot since the late 1980s. In recent years, though, various building types, including an office tower, a mixed-use apartment and retail and hotel projects, have been considered for the plot.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
