Building Across from M&T Bank Stadium Sells to Horseshoe Casino Owners for $4.8 Million

| February 20, 2018 | 2 Comments

A four-story, 91,744 sq. ft. building at 1300 Warner St. in Stadium Area sold in January for $4.8 million to Horseshoe Casino Baltimore owners CBAC Gaming, the partnership group of Caesars, Rock Gaming, and Caves Valley Partners (CVP).

The long-vacant building on 1.3 acres was built in 1920. It sits directly across Ostend St. from M&T Bank Stadium and a block from Horseshoe Casino.

“The purchase of this property provides the Horseshoe Casino partnership with increased flexibility as we consider mid- and long-term options for continuing the Southern Gateway’s transformation along Warner Street into the city’s next great entertainment district,” said Arthur Adler of CVP.

This acquisition adds to the list of properties CBAC is assembling along Warner St. for redevelopment. CBAC also purchased the 31,377 sq. ft., 1.26 acre, property at 1301 Warner St. in 2016 for $3,222,500.

No development details have been revealed by CBAC for these properties at this time.

Also in the works for CBAC along Warner St. is a proposal for a Topgolf location. CBAC and Topgolf submitted the only proposal in the Baltimore Development Corporation (BDC) Request for Proposals (RFP) for the City-owned Baltimore Animal Rescue and Care Shelter, Inc. (BARCS) and The Office of Animal Control facility at 301 Stockholm St. in the Stadium Area. The 2.564-acre and approximately 112,000 sq. ft. waterfront property sits on the Middle Branch. The joint BARCS and Office of Animal Control building is 23,000 sq. ft.

The BARCS and Office of Animal Control site is also adjacent to Parking Lot J, which CBAC has the option to purchase for redevelopment. CBAC is also working with the City to build a larger new BARCS facility at 2800 Wegworth Ln. The 41,650 sq. ft. industrial building is located just west of I-295 in Lakeland. BARCS has outgrown its current facility and has been seeking a new home in recent years.

Topgolf facilities are a combination of a golf driving range and a sports bar and entertainment venue. Players on the 240-yard driving range can play 10 different games using golf balls with a microchip technology and a digital scoring system. Topgolf says its games are for all skill levels.

Stadium Area has become a hotbed for investment and redevelopment with its close proximity to Horseshoe Casino and the $275 million mixed-use Stadium Square development by CVP. The BARCS site is across the street from The Parker Building at 333 W. Ostend St. which is currently under construction for a conversion to 50,000 sq. ft. of offices. A block east at 175 W. Ostend St. will be the new 10,000 sq. ft. Checkerspot Brewing Company brewery and tap room. Adjacent to 1300 Warner St. is 1300 Russell St. which is the future home of Hammerjacks, a 48,000 sq. ft. music venue and club.

1300 Warner St. on the right and 1301 Warner St. on the left

Properties under the control of CBAC, plus BARCS which CBAC has a proposal for, are outlined in orange. Screenshot courtesy of Google Maps

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