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Caves Valley Partners has purchased a warehouse at 1800 South Hanover St for $4.5M as it seeks to beef up its South Baltimore portfolio.
The warehouse's proximity to Kevin Plank's multibillion-dollar Port Covington development made it an attractive location. Caves Valley purchased the 18k SF property from Green Door Properties, which had been planning to build 39 townhomes on the site. Caves Valley is still determining the best use for the property, the Baltimore Business Journal reports.
Caves Valley is leading a number of developments in the area, including the $6.5M makeover of Cross Street Market and the $275M Stadium Square. The neighborhood is home to an emerging entertainment district, including the Horseshoe Casino Baltimore and the revitalized Hammerjacks. [BBJ]
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