September 17th 2019 – We’re honored to have had the opportunity to help The Pratt Thompson Co., a local 100-yr old institution, sell their industrial facility in Baltimore’s Federal Hill neighborhood to Lewes, Delaware-based Premier Storage Investors for $3.2 million, or about $107 per square foot. The roughly 30,000-square-foot building at 1900 South Charles St. was completed in 1971.

The new owner has plans to demolish the property and build a 90,000-square-foot ExtraSpace Storage facility in its place, with approximately 750 climate-controlled storage units. ExtraSpace Storage will be the latest investment to Wells St. which has been transformed in the past decade from warehouses, industrial properties, and vacant properties to high-end real estate. 101 Wells turned the Stamping and Enameling Company buildings into an apartment community, apartment building 1901 South Charles was built at the site of a vacant industrial property, apartment and retail building 2 East Wells replaced a warehouse, and Zero Fox renovated the vacant Pabst Castle into an office building.

Construction began recently to convert 1900 Light St., a former slaughterhouse that was recently a curtain factory, into a 38,000 sq. ft. office and retail building. And, Caves Valley Partners and Wood Partners will be turning the former Middleton & Meads and an additional warehouse on the 1800 and 1900 blocks of S. Hanover St. into a mixed-used development. The first building proposed in this project is a 267-unit apartment building on the 1800 block of S. Hanover St. with 1,000 sq. ft. of retail.

John Rosso with Rosso Commercial Real Estate Services represented the seller in the transaction. Daniel Hudak at MacKenzie Commercial Real Estate Services represented the buyer.