Horseshoe Casino Group Acquires Another Property for Warner Street “Entertainment District”

| May 1, 2018 | 0 Comments

Horseshoe Casino Baltimore owners CBAC Gaming, the partnership group of Caesars, Rock Gaming, and Caves Valley Partners (CVP), has purchased another property on Warner St. which connects the casino to M&T Bank Stadium. Yesterday, CBAC closed on 1400 Warner St., a 41,193 sq. ft. building on a 1.476 acre property.

1400 Warner St. is the former home of Second Chance which moved 1700 Ridgely St. in 2012. It is also the current home of sports bar Game, which is located in the one-story section on the south end of the building, and several other tenants located in the three-story section on the north end of the building. The building had a large mural painted on it in 2014.

Arthur Adler of CVP told that CBAC is meeting the tenants in the near future, but that CBAC doesn’t have any immediate plans for the building.

CBAC now owns all but one property on Warner St. between Horseshoe and M&T Bank Stadium. The one building CBAC does not own is Public Storage at 1415 Russell St., which also faces Warner.

Adler said, “Public Storage is a viable and strong company. We are going to keep ourselves busy with the properties we acquired, but who knows what the future holds.”

Adler did not disclose the purchase price of 1400 Warner St., but said it’s in line with the other properties CBAC has purchased in the corridor.

“This is a continuation of our efforts to improve the Warner St. corridor,” said Adler. “When you leave the stadium and go to the casino, there’s a lot of vacant buildings. We want to activate it.”

In January, Adler called Warner St. “the city’s next great entertainment district.”

A four-story, 91,744 sq. ft. building at 1300 Warner St. in Stadium Area sold in January for $4.8 million to CBAC. The long-vacant building on 1.3 acres was built in 1920. It sits directly across Ostend St. from M&T Bank Stadium.

CBAC also purchased the 31,377 sq. ft., 1.26 acre property at 1301 Warner St. in 2016 for $3,222,500.

CBAC is also partnering with Topgolf on a proposal for the current home of the City-owned Baltimore Animal Rescue and Care Shelter, Inc. (BARCS) and The Office of Animal Control facility at 301 Stockholm St. and the adjacent Parking Lot J, which CBAC has the option with Baltimore City to purchase for redevelopment.

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.

Topgolf has more than 30 locations throughout the world including facilities in Alexandria and Loudon County in Northern Virginia, and a new site coming soon to Germantown, Maryland. It began in London and is now headquartered in Dallas, TX.

CBAC is proposing to build BARCS a “top-of-the-line” new facility at 2490 Giles Rd. in Cherry Hill, a City-owned property that was approved by the Baltimore City Board of Estimates for the new home of BARCS.

Adler said that CBAC has months of design work ahead and that MedMar, the current tenant at 2490 Giles Rd., will remain on the property through the summer.

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. Hammerjacks recently began construction.

1400 Warner Street

Properties under the control of CBAC, plus BARCS which CBAC has a proposal for, are outlined in blue. Additional investments in the area marked with text and logos. Screenshot courtesy of Google Maps (click to enlarge)


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