By Steve Kilar
The Baltimore Sun
3:50 PM EST, December 3, 2012
The defunct Baltimore International College is selling its former headquarters at 17 Commerce Street, according to a statement Monday from the real estate firm handling the sale.
Real estate leasing and sales firm Cushman & Wakefield is marketing the building “as a redevelopment opportunity for multifamily, hotel, office or retail use,” the statement said.
“Originally home to the Baltimore Grain Trading Exchange, the 80,555 square foot Commerce Exchange Building was built in 1906 after the Great Baltimore Fire and completely renovated in 1985,” Cushman & Wakefield said. “Listed on the National Register of Historic Places in 1983, the five-story building with an adjoining, improved lower level features a unique Renaissance-Revival style, offering high ceilings and an amenity-rich location just two blocks from Baltimore’s Inner Harbor.”
“Abundant parking is located immediately adjacent to the building,” the firm said.
Baltimore International College, nearing the loss of its accreditation, was taken over by Stratford University in January. Some of the college's real estate assets, including a hotel in Ireland, were to be sold to pay off debts.
But Stratford agreed to lease Baltimore International College’s headquarters and its culinary arts center in Little Italy, with an eventual option to buy both. A representative for Stratford did not respond to a request for comment Monday.
Baltimore International College purchased the Commerce Street building in 1992 for $665,000, according to tax records. It is assessed for tax purposes at $1.1 million.
Another Baltimore International College building, 206 E. Redwood St., was put on sale in September. That property is being sold by Transwestern for $1.75 million.
Have a real estate news tip or experience to share? Email me at email@example.com.
Copyright © 2014, The Baltimore Sun