U.S. Government Bids Adieu to Old Baltimore Property
- Jul 14, 2015
After months of bidding wars, an old federal building is now under new ownership. The U.S. Appraisers’ Stores property in downtown Baltimore sold last week for $8.2 million.
The eight-story facility at 103 S. Gay St. was constructed in 1935 by the U.S. Treasury Department. It was designed in the Art Deco style, with a flat-plate, reinforced concrete structural system and a brick exterior. The structure was used to store, appraise and inspect imported merchandise brought through the Port of Baltimore.
Earlier this year, in February, the General Services Administration announced its plans to sell the property. When it hit the auction block in March, the U.S. Appraisers’ Stores building attracted bids from nine different groups. And although the transaction closed on July 4, the winner is still known only as “Bidder #8.” However, a spokeswoman for the General Services Administration told The Baltimore Sun that the name of the buyer will be revealed in the next few weeks, once the sale is finalized.
PropertyShark reports that the building offers a total of 134,400 square feet of space. The real estate website also says that its current market value is a little over $10.4 million.