Carroll-Camden Historic Building and Industrial Property Sells for $1.75 Million

| June 15, 2020 | 0 Comments

1300 Bayard St., a 1.9-acre property with 38,000 sq. ft. of building space, sold on Friday for $1.75 million. Belsinger Sign Works is the anchor tenant of the property and will remain at the property for the foreseeable future.

Belsinger Sign Works has been in a historic 34,000 sq. ft., two-story brick office building at the property since 1958. Belsinger sold the property to the new owners, 1300 Bayard LLC, and have signed a multi-year leaseback with the buyer.

Jim Chivers of Gold and Company found the buyer and assisted Belsinger with the sale. “The owners of Belsinger decided to capitalize on the accumulated value of their real estate by offering their property for sale,” said Chivers. “They have a business to run and don’t have the time to get involved in redevelopment.”

The property has a 4,000 sq. ft. drive-in building with yard space that will be offered for lease. Improvements will be made to the drive-in building and throughout the property.

“The new owners are looking to help revitalize Pigtown and Carroll-Camden,” said Chivers.

The ownership team also recently purchased 1303 Carroll St. in November. It is making improvements to the property and has been negotiating with potential tenants for the 30,000 sq. ft. building.

Chivers said 1300 Bayard LLC plans to make additional investments in Carroll-Camden and Pigtown as well.

 Chivers also has Gaslight Square, an 80,000 sq. ft. office, industrial, and flex complex at 1401 Severn St. in Carroll-Camden, listed for sale. “Gaslight Square has seen a lot of activity with our marketing and we have fielded several offers. All the potential buyers see the value in the site and want to take it to the next step,” he said.

Chivers said the Baltimore industrial market was hot before the COVID-19 pandemic and that the demand has continued.

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