The 5,000 SF space will allow Mason & Carter to accelerate their growth
Mason & Carter (MC), an independent insurance agency and brokerage company announces the signing of a 10 year lease for 5,000 square feet in Downtown Baltimore. Since 1901, Mason & Carter has provided quality protection for thousands of businesses, individuals & families throughout the region. They are the 29th oldest family-owned business in the Baltimore metro area.
Mason & Carter, located at 23 South Street has been an anchor in Downtown’s Business and Government National Historic District for decades. Their basic belief in providing only the best in coverage and personal service are some of the many reasons why today, more than ever, people are moving up to the difference of quality insurance protection that Mason & Carter, Inc. can uniquely provide.
“Before, during and after the pandemic we have been strong believers that our workplace, should be a collaborative environment in which our employees can interact with their colleagues in areas emitting energy, social interaction and an after-work atmosphere. We see signs of progress downtown and specifically on historic Redwood St. We remain optimistic about the future and believe a strong and vibrant downtown core is essential for the long-term economic health of the entire Baltimore region.” stated Mason & Carter President, Read Carter.
“I’ve known Read personally for forty years. We do all of our insurance business with them and recommend our tenants and friends do the same. Their customer service and attention to detail is something I have always admired. As fellow believers in the resurgence of Downton Baltimore, I am grateful that they will be joining us at our Class A Historic Redwood Exchange building. It’s their first move in approximately 90 years, so it means a lot that they have chosen us after viewing many other locations.” Byrnes explained.
For over 123 years, Mason & Carter has provided insurance services to businesses and families. As an independent agency, their mission remains unchanged: design and place insurance protection that achieves a balance of value and pricing. Having access to an array of insurance companies allows them to pair the needs of its clients with appropriate companies and with a personal touch. This, in contrast to many of its competitors who can offer only their own brand and direct to company call center service.
Byrnes & Associates’ November 2020 acquisition of the adjacent 225 E. Redwood Street and 233 E. Redwood Street, as well as a comprehensive repositioning strategy and rebranding of the assets to Vickers Exchange and Redwood Exchange respectively. The acquisition of these two historic buildings, which include approximately 90,000 square feet of office and retail space, was completed in partnership with Dave Gupta, a local entrepreneur. Since late 2020, subsequent to the completion of the repositioning program from a single tenant to multi-tenant, Byrnes & Associates has signed 70 office, 4 restaurant and 2 retail leases at the buildings and others on the 200 block of East Redwood Street, to elevate occupancy of the spaces in their two buildings to 90 percent from 5 percent at acquisition.
“The flurry of leases over the past two years places us ahead of our projections, and stems from the availability of reimagined commercial office and retail space in the central business core of Baltimore City. We have been successful in creating a vibrant and energetic work atmosphere at Vickers Exchange and Redwood Exchange. Included in the leasing of office space is access to six beautiful conference rooms, event space, penthouse lounge and rooftop deck. Companies engaged in a range of professional services have embraced the location, nearby amenities and overall historic ambiance. In the coming months we will add 130 residents next door at the new hotel-to-apartment conversion named, Redwood Place Apartment Homes.” Byrnes added.
Downtown Baltimore Renaissance
“A vibrant and growing downtown is central to the economic health of the greater metropolitan region and among the most important elements to achieve this is to attract businesses, residents, restaurants and entertainment” Byrnes said. “We see tremendous signs of progress in many different sections of downtown and believe a true renaissance is already underway for Baltimore City. Within a one-mile radius of our properties on the 200 block of Redwood Street, there is over $7 billion of development and investment activity that has either been completed, is under construction or already planned during the 2018-2028 timeframe. The substantial investment we are making on Historic Redwood Street of approximately $25 million is the perfect complement to the $250 million redevelopment of CFG Bank Arena, the new $45 million Lexington Market and the pending multi-billion dollar investments going into the Inner Harbor, Camden Yards, M&T Bank, Convention Center, MD BioPark, UMMC, UMB and the surrounding areas.”
“On the 200 block of Historic Redwood Street, we have incredible neighbors. This block is a microcosm of everything that is great about Downtown Baltimore,” Byrnes added. These assets include the 130 Unit Redwood Place multifamily redevelopment, commercial spaces, event spaces, Goodwill’s Excel Academy, Chesapeake Shakespeare Theatre, restaurant and retail choices including Werner’s Diner and Pub, Proper Cuisine Cocktail & Wine Bar, The Empanada Lady, Clock Restoration Bar & Kitchen, Kechy Pizza & Co, Parlour75 Barber Co. and additional restaurants and retail to be named later.”
History of 233 E. Redwood Street
The building was constructed by the family of John Work Garrett, a prominent entrepreneur and philanthropist in Baltimore who served as president of the Baltimore and Ohio Railroad for nearly 30 years. In 1870, Garrett acquired 1,400 acres in Baltimore City and built a Victorian-style mansion that was named “Montebello.” After his death, his family constructed the 13-story 233 E. Redwood Street – which was considered extremely tall for that time period – with the building designed by architects J.B. Noel Wyatt and William G. Nolting. It was delivered in 1913, approximately nine years after the Great Baltimore Fire.
Nearly 155,000 people reside within a two-mile radius of the buildings, including more than 68,000 households with an average household income approaching $105,000. The daytime population within two miles is nearly 290,000.
About Mason & Carter
Since our beginnings in 1901, Mason & Carter, Inc. has become a leader in providing quality protection for thousands of individuals & families throughout our region. Our basic belief in providing only the best in coverage and personal service is just one of the many reasons why today, more than ever, people are moving up to the difference of quality insurance protection Mason & Carter, Inc. can uniquely provide.
By offering world class protection means that you’re covered today as well as in the future with an agency whose dedication to service is strictly paramount. To do this we evaluate your specific needs, find the company that will give you the best value for your dollar, while supplying an unyielding standard of protection. The companies we represent offer superior products and excellent customer service, in addition to outstanding reputations for fast, fair claims service. You can find more information at: www.masoncarter.com.
About Dave Gupta
Dave Gupta is a local entrepreneur who currently owns apartment buildings including The Telephone building in Charles Village next to Johns Hopkins University, and the Calvert School Apartments on 10 W. Chase Street in Mt. Vernon that formerly functioned as the Calvert School. He also owns a number of other real estate holdings in downtown Towson.
About Byrnes & Associates, Inc.
Byrnes & Associates, Inc. is a boutique real estate company providing a comprehensive array of commercial real estate brokerage, leasing, redevelopment and asset management services to institutional and private investors, companies and other owners. Since 1981, the company has been involved in a number of historical redevelopment projects including The Professional Building, The Latrobe, The McDowell, The Vickers Exchange and The Redwood Exchange. Over the past three years, Byrnes & Associates has also brokered the sale of several high-profile projects in Baltimore City including The Munsey Apartment Building, the Lanahan Building on 22 Light Street, the F&D Building and the recent 120,000 square foot multifamily conversion at 300 W. Fayette St.
The company continues to be involved in numerous charities and business organizations throughout the City. Several years ago, the company relocated its corporate headquarters to The Redwood Exchange Building in anticipation of expected growth of its brokerage and development business.
For additional information about Byrnes and Associates and Historic Redwood Street, visit www.ByrnesandAssociatesInc.com and www.RedwoodExchangellc.com and RedwoodPlace207.com.
