Offering Memorandum Sale / Lease / Joint Venture 210-214 N
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OFFERING MEMORANDUM SALE / LEASE / JOINT VENTURE 210-214 N. Charles Street, Baltimore, Maryland 21201 Offered by: Timothy R. Hearn 410-458-3494 An historic skyscraper ready for redevelopment and prominently located in Baltimore’s landmark Charles Center Executive Summary Artemis Commercial Real Estate Services, as exclusive broker to the Owner has been retained to solicit offers for sale, lease, and/or joint venture of the property located at 210-214 North Charles Street in Baltimore, Maryland. The offering represents an exceptional opportunity to acquire one of the finest architectural examples from the 19th century. Legally identified as Baltimore City Ward 4, Section 10, Block 601, Lot 4 containing 20,967+ SF of land area, this building is commonly referred to in the market as “The Fidelity Building” or “F&D Building” after the prior property owner and primary occupant, The Fidelity & Deposit Company of Maryland. The Fidelity & Deposit Building is in the core of Baltimore City’s Central Business District and at the edge of Mt. Vernon Historic District, at the northwest corner of North Charles and Lexington Streets. The Property contains 230,700+ GSF in the main building and 20,950 GSF in the annex. The Fidelity & Deposit Building is being offered at $6,000,000, in fee simple terms. For Sale / For Lease / Joint Venture | 3 A prominent local firm composed of leading regional designers Ephraim Francis Baldwin and Josias Pennington (main “house architects” for stations and structures of the dominant Baltimore and Ohio Railroad) designed the building in Romanesque Revival style. Baldwin and Pennington used steel cage framing construction with a façade of grey, rough-cut granite, and a corner cupola tower and mansard roof. The building, which originally contained eight floors, was completed in 1894 and was later the headquarters of the Fidelity and Deposit Company of Baltimore. Between 1912-1915, the Fidelity and Deposit Company arranged to add seven more floors to the top of the building, increasing the number of floors to fifteen. The upper stories were surfaced with terracotta, matching the style of the original architecture below. A three-story annex building on the north and west sides of the building was added in 1968. 4 | 210-214 N. Charles Street Offering Memorandum Photo by John W. Cahill For Sale / For Lease / Joint Venture | 5 6 | 210-214 N. Charles Street Offering Memorandum Property Profile FOUNDATION AND The northern and western exterior The first floor lobby is finished STRUCTURAL SYSTEMS walls are finished with beige with polished granite flooring, brick. The penthouse structure marble veneer wall panels and Consists of masonry bearing is faced with painted stucco. a decorative vaulted ceiling. walls and interior steel columns Lintels and windowsills are supported on reinforced concrete granite except for the penthouse spread footings. The main building Building interior has been fully structure where they are wood. and annex below-grade structure demolished to shell condition. consist of a pre-cast concrete slab on-grade with perimeter The annex building’s exterior The main building has four concrete and stone foundation walls consist of limestone panel (4) vaults located on the first walls. The framing system of the veneer with a polished granite floor and lower levels. eight-story addition is structural base on the north wall on the steel. The structural steel lower floors and an anodized framework is typically encased aluminum tube screen wall on the IMPROVEMENTS in concrete for fire protection. top floor, obscuring the cooling The original single-pane The elevated floors are concrete towers. The south and west wooden windows were replaced slab, finished with terrazzo. facades consist of being brick with double-pane aluminum topped with a stripe of limestone windows circa 1989 on all panels below the screen wall. floors except the penthouse. EXTERIOR The exterior has been cleaned The building’s exterior envelope INTERIOR consists of three façade systems and was re-pointed in 2007 to that are supported by the The main building’s entrance from restore its original beauty. The building’s structural frame. The Charles Street provides access building’s main entrance on southern and eastern exterior to the first floor central atrium Charles Street is improved in walls fronting N. Charles Street lobby. The first floor, which is decorative granite and features along the lower eight floors at grade, also contains street one set of double leaf glass doors feature decorative granite façade level retail and mercantile tenant framed by two single leaf glass and the upper eight floors are spaces. Located just off the lobby doors. The office entrance at clad with decorative terracotta are five (5) passenger elevators the southeastern corner of the stones to match the existing and one (1) freight elevator. building consists of a revolving granite finish. Ionic and Corinthian Passenger elevator doors and door that has been converted pilasters are used extensively at frames have brass finish which has into a single leaf glass door and window openings and entrances. been painted on many floors. In fixed leaf door. The entrance into A modified Palladian motif is addition, an open central stairwell the annex is a single leaf glass used on the fifth story windows. provides access to all levels. door with aluminum framing. For Sale / For Lease / Joint Venture | 7 Originally structured an eight- story building, eight additional upper stories were added in 1912. 210 NORTH CHARLES STREET FLOOR GROSS AREA SF Basement 7,000 Basement Mezzanine 7,500 Central Mezzanine 1,800 First Floor 15,600 First Floor Mezzanine 7,800 Second Floor 14,800 Third Floor 13,200 Fourth Floor 13,200 Fifth Floor 13,200 Sixth Floor 13,200 Seventh Floor 13,200 Eighth Floor 13,200 Ninth Floor 13,200 Tenth Floor 13,200 Eleventh Floor 13,200 Twelvth Floor 13,200 Thirteenth Floor 13,200 Fourteenth Floor 13,200 Fifteenth Floor 13,200 Sixteenth Floor 6,200 TOTAL 232,300 SF 8 | 210-214 N. Charles Street Offering Memorandum 214 NORTH CHARLES STREET A three-story annex building on FLOOR GROSS AREA SF the north and west sides of the Basement 6,000 Mezzanine 3,100 building was added in 1968. First Floor 3,800 Second Floor 5,350 Machine Room 2,700 TOTAL 20,950 SF For Sale / For Lease / Joint Venture | 9 Site Plans + Floor Plans Block Plat 10 | 210-214 N. Charles Street Offering Memorandum Alta Survey For Sale / For Lease / Joint Venture | 11 1st Floor 1st Floor Mezzanine 12 | 210-214 N. Charles Street Offering Memorandum 2nd Floor 3rd Floor For Sale / For Lease / Joint Venture | 13 10th Floor 16th Floor 14 | 210-214 N. Charles Street Offering Memorandum Annex 1st Floor Annex 2nd Floor Annex Basement Annex Mezzanine For Sale / For Lease / Joint Venture | 15 Location Overview A L S T W MULBERRY ST N CHARLES ST S T P A U L S T S T P A U L S T N CALVERT ST W SARATOGA ST T E E R ST LEXINGTON ST Y T R E LIB N HO W ARD ST F A Y E T T E S T BALTIMORE ST AMENITIES RESTAURANTSR E D W & O O CAFÉS D S T The Fidelity Building is at the core of the B&O Brasserie, Café Poupon,GUILFORD Cazbar, Coffee-Land, AVE David burgeoning renaissance happening in & Dad’s Café, Dunkin Donuts, EATS at Charles Plaza, Homeslyce, Java Joe’s, Mick O’Sheas, Pho Viet, Potbelly Downtown. Unbelievable conversion projects Sandwich Shop, Puerto 511, Subway, Thai Mekong and countless restaurants add to the excitement and accessibility of Charles Center. RETAILE LOMBARD ST S Center Plaza is a hidden oasis with expansive 7-Eleven, Bank of America, BB&T, Dry Clean Express, green space and outdoor seating. This popular FedEx Office Print & Ship Center, Lexington Florist, year-round outdoor community space hosts Streets Market & Café, Urban Cellars, Walgreens craft markets, live music and Downtown Partnership of Baltimore events like Pints in the Park, free yoga classes and live music. 16 | 210-214 N. Charles Street Offering Memorandum Demographics Citation: U.S. Census Bureau (2018). American Community Survey 5-year estimates. Retrieved from Census Reporter Profile page for 21201 <http://censusreporter.org/profiles/86000US21201-21201/ Population by Age Range 17% 16% 35.5 Under 18 Median Age 12% 12% 18-64 11% 11% 11% 65+ 6% 3% 602,495 Baltimore City Population Type of Structure Occupancy Ownership Multi Unit Vacant Renter Single Unit Occupied Owner Household Income $31,433 $51,000 Married Per Capita Income Median Household Income Couples 36% Non-family 27% 49% 27.50% Female 30% 17.50% Male 7% 6% For Sale / For Lease / Joint Venture | 17 Appendix 18 | 210-214 N. Charles Street Offering Memorandum Downtown Baltimore Development Report 2017–2019 DOWNTOWN PARTNERSHIP OF BALTIMORE For Sale / For Lease / Joint Venture | 19 Station North Upton Bolton Hill State Center Johnston Square DOWNTOWN BALTIMORE Heritage DEVELOPMENT INCE 011 Crossing he ome rba 22 21 development, he 3 W Downtown Management CHARLES CENTER DEVELOPMENT Authorit istric nparalleled I o 11 15 6 6 aren’ amilia it h rea ak oo a h a e or ha ajo 14 6 18 4 development n estaurant ha 44 4 hav pene inc 011 Thi rea Br 19 3 whil mal eography h rimar District 17 economi ngin h ity. 11 20 5 23 52 2 5 4 7 7 42 12 Poppleton 25 25 40 12 9 8 20 10 47 18 CHARLES 13 6 8CENTER 6 24 45 Center 29 21 6 27 1 Upper 1 33 1 Fells 6 2324 39 14 3 37 43 2 5 7 28 30 31 10 1 48 6 1 22 2 St President 2 5 53 51 8 9 2 4 6 34 38 Hollins 4 4 Market 41 7 9 17 32 3 50 8 1 10 49 5 6 27 19 2 15 13 Inner 35 3 3 Harbor OFFIC MIXE SE Appraiser’s Building RESTAURANTS Pho Viet Franklin Loft s Pitamore—Light Street 400 E.