Baltimore developer Mark Sapperstein is considering buying the Calvert Street properties occupied by The Baltimore Sun.
Sapperstein of 28 Walker Development, which was one of about six firms that made offers, said he is conducting due diligence on the Sun building and parking garage, drawn by the location close to Mount Vernon, Mercy Medical Center and Interstate 83.
"It could be a cool mixed-use property one day with some residents, office space, maybe some retail on the first floor," he said. "It's in a nice sweet spot."
Sapperstein stressed Monday he has not signed a contract for the 501 N. Calvert St. building and its nearby garage, saying he is always looking for new development sites. The owner of the building, Chicago-based Tribune Media, a former parent company of The Sun, did not respond immediately for a request for comment.
Sapperstein has made a name for himself tackling unusual properties, developing The Shops at Canton Crossing and the mixed-use McHenry Row in Locust Point.
Bo Cashman, a senior vice president at CBRE, the brokerage working on selling the building, said there were more than half a dozen bidders for the properties. While confirming there is no contract, he declined to say if active discussions were going on with more than one bidder.
The Sun's office building dates to 1950 and once housed its printing presses. It was significantly expanded in 1981 to about 452,000 square feet, according to the state, which valued it at roughly $12.5 million for tax purposes last year. A portion of the building is now empty. A sale would include a parking garage in the 600 block of N. Calvert St.
The Sun has two years left on its lease, with options to renew.