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Real Estate

McDonald's sells historic downtown property

McDonald's sells historic downtown property

With development looming next door, McDonald's Corp. has sold a historic property in downtown Baltimore for $1.5 million, according to land records.

The buyer, 101 East Baltimore Properties, shares an address with the Washington real estate investment management firm Madison Marquette, one of the companies working on the 28-story 1 Light Street office and apartment tower in the same block.

Madison Marquette and Metropolitan Partnership Ltd. have been working on plans for the building for more than a year, including erecting it around the McDonald's building. Recently, it has altered designs to add office space and reduce the number of apartment units.

Though the...