BALTIMORE, MD—22 Light St., a historic multitenant office building with first-floor retail has traded to a LLC for an undisclosed price.
Transwestern brokered the sale of the 45,000-square-foot, six-story building that was built in 1910, with Leo McDermott, Tom Gentner and Brian Watts representing the buyer in the transaction. The new ownership, an LLC with the same name as the seller, has retained Transwestern to lease the vacant office and retail space totaling 25,500 square feet, or 57% of the building.
"This was a terrific purchase price for a highly visible office asset located just one block west of the Inner Harbor," said McDermott in a prepared statement.
The new ownership plans several upgrades, including the building common areas, cleaning the building exterior and renovating the first-floor retail space. Existing retail tenants include 7-Eleven and Victor Pascal Custom Tailors.
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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.
