Trout Daniel Arranges Sale of Former Department Store in Baltimore, Buyer Plans Multifamily Conversion
BALTIMORE — Trout Daniel & Associates (TD&A) has arranged the sale of 300 West Fayette Street, a 120,000-square-foot building in Baltimore. The buyer, an entity doing business as 300 W. Fayette Finance LLC, is led by a local investment group. The company plans to redevelop the property into an apartment community. The sales price and seller were not disclosed.
The property is a seven story building that formerly was a department store. The building will be converted into 107 market-rate apartments and will include street-level retail and flexible office space. Construction is slated to start in a few months.
Built in 1908, the building was the original home of Berkheimer Brothers Department Store. In addition to the original department store, the sale includes an adjoining brownstone building that once housed Robert L. Richardson Mortgage Co.
Gary Olschansky of TD&A represented the undisclosed seller, who had owned the building since 2005. Brad Byrnes of Byrnes & Associates Inc. represented the buyer. TD&A is a Baltimore-based commercial real estate services company.