Office Renovations Begin at The Parker Building, Stadium Area Real Estate Heats Up

| April 6, 2015 | 0 Comments
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The Parker Building Facing Ostend St.

Construction has begun to convert The Parker Building at 333 W. Ostend St. in the Stadium Area of South Baltimore into approximately 50,000 sq. ft. of office space. The Parker Building, which has been vacant since the mid-1990s, is the former home of Parker Metal Decorating Co. and is in close proximity to M&T Bank Stadium and the new Stadium Square development. The building’s attached parking lots have been used over the years for Orioles and Ravens parking.

Developer Himmelrich Associates has begun stabilizing peripheral structures on the site and they will soon replace the windows. They are hoping to have the envelope of the building completed this year.

Ashley Tarran-Jones of Himmelrich Associates told that they are currently in negotiations with multiple businesses interested in the space, which has led to the start of construction. They also feel a renovated building will make the remaining spaces in the building more marketable to future tenants.

Himmelrich also owns other office/flex buildings in the area, 190 W. Ostend St. (50,000 sq. ft.) and 175 W. Ostend St. (65,000 sq. ft.), both of which are mostly leased. Tarran-Jones said that both buildings have performed very well in recent years and that the lack of large available spaces at either property has also led to increased interest in The Parker Building.

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Construction underway at The Parker Building

Himmelrich additionally owns 211 Stockholm St., located across the street from The Parker Building and adjacent to BARCS. Tarran-Jones said that they have a temporary tenant in the building but they will look to redevelop the property in the future.

The areas around The Parker Building have been active for redevelopment as the Stadium Square development, a $250 million mixed-use development on three blocks of Sharp-Leadenhall and South Baltimore, recently got underway. Stadium Square is located just one block east of the property and Horseshoe Casino Baltimore is about two blocks southwest.

Planning is currently underway for a new Hammerjacks in the area and construction is currently in process at 1400 Warner St. for sports bar GAME Sports & Social, which sits just north of Horseshoe, and a new $8 million Greyhound bus terminal at 2110 Haines St. just south of Horseshoe.

Many other properties in the area have been hotly pursued by real estate developers and Tarran-Jones noted that the Stadium Square development has really moved the needle in the immediate area.

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