Joint Venture Purchases Two Historic Mixed-Use Buildings in Downtown Baltimore Totaling 90,000 SF
BALTIMORE — A joint venture between Kemp Byrnes and Brad Byrnes of Byrnes & Associates Inc. and local entrepreneur Dave Gupta has purchased two historic buildings in downtown Baltimore for an undisclosed price. The assets, situated at 225 and 233 E. Redwood St., combine to span 90,000 square feet of office and retail space. The buyers plan to implement a $5 million renovation and rebranding into the properties. The four-story building at 225 E. Redwood St. will be known as the Vickers Building, and the 13-story building located at 233 E. Redwood St. will be dubbed the Redwood Exchange. The buyers will transform the upper floors of the Redwood Exchange, which currently houses the law office of Gordon Feinblatt LLC, into a multi-tenant space. The ground floors of both buildings will be leased to restaurant and retail users. More than $3 million has been invested in the properties over the past five years by the previous undisclosed owner to upgrade the exterior, interior common areas and HVAC system.
Vickers Exchange was originally built in 1904 and includes Werner’s Restaurant, a pop-culture icon that has been featured in TV shows and movies such as “The Wire,” “Liberty Heights,” “Ladder 49,” “Tin Me,” “Avalon” and “House of Cards.” Redwood Exchange was built in 1913 and was one of the tallest buildings in Baltimore at the time.