Baltimore-based commercial real estate firm, Gold and Company, to handle the sale of the mixed-use office and light industrial development located at 1401 Severn St. (21230)
Gold and Company, a Baltimore-based commercial real estate firm, has been named the exclusive broker for marketing the sale of Gaslight Square. The mixed use complex is located at 1401 Severn St. in the Carroll-Camden Industrial Area of South Baltimore. It is listed for $12.5 million.
Gold and Company assisted the current owners, Equity Warehouse, in its purchase of the property in October 2021. Since then the new owners have repositioned and further renovated the five-building complex on the 2.7-acre site. The 94,000 sq. ft. project is now stabilized and more than 50 percent leased with nine tenants.
Originally constructed in the late 1800s for Equitable Gas Works, Gaslight Square offers historic character and charm combined with modern, energy-efficient systems. The prior owners, Abbey Drum / Gaslight Square, LLC, made their share of renovations to the site and were able to attract long-term tenants.
Equity Warehouse is owned by Baltimore natives and former Baltimore City firefighters Ian Horowitz and Dan Mathe. The business partners have made significant investments into the project to create an atmosphere where businesses can be successful in a collaborative environment. Notable recent renovations include a new roof, custom windows, repointed brick, and improvements to the courtyard and outdoor areas.
“Gaslight Square has been at the epicenter of our lives the past four years and we were fortunate to have a high degree of activity and leasing interest.” said Horowitz. “Our passion for this development and witnessing the influx of new businesses made our investment worthwhile. We feel it is time for the next chapter and anticipate that this project is at a point where it well be extremely well received in the marketplace because of the location and wide variety of tenant mix.”
When Equity Warehouse purchased Gaslight Square they knew of the value-add potential of this Southwest Baltimore location as well as the demand for this type of unique space by state agencies. Current tenants include Reveille Grounds along with several other state agencies with staggered lease terms.
The remaining spaces can easily accommodate prospects ranging in size from smaller spaces of 1,500 and up to 20,000 sq. ft. Tenants of Gaslight Square have access to free on-site parking, communal and outdoor space, and building connectivity that supports a collaborative environment.
The Gaslight Square location is also highly accessible to I-295, I-95, the stadiums, and Downtown Baltimore.
Buyers and tenants can capitalize on the Empowerment, Enterprise and Hub Zone designations offered at Gaslight Square.
Jim Chivers and Will McCullough of Gold and Company will handle the marketing of Gaslight Square.
“The Equity Warehouse team has successfully brought the project to a level of stabilization and completed some major renovations in a short time. That, in conjunction with market demand and Baltimore’s active commercial real estate market, makes it an ideal time to offer this asset to both investors and owner-occupants,” said Chivers. “The right mix of amenities, accessibility, and networking opportunities, Gaslight Square can become a destination for entrepreneurs and businesses looking to thrive in the South Baltimore area.”
Gold and Company provides commercial real estate brokerage and development services to buyers, sellers, landlords, and tenants in the Baltimore-metropolitan area.
