Atapco Properties of Baltimore has bought the Baltimore Sun’s headquarters on N. Calvert Street.
The Sun, which also own a number of community newspapers and the alt-weekly City Paper, leases the office building but does not occupy all of the space in it. The paper has a lease for the office building until mid-2018 and options to extend it, according to reports. A sale price was not disclosed.
The properties are zoned for commercial use, which means they could be converted to multi-family housing or other uses if the newspaper relocates. There is also room in the 500 block for new construction.
Atapco is a real estate investment and management firm that was founded by Louis Blaustein as an oil company and entered the real estate market in the 1960s, with construction of the Blaustein Building at Charles and Fayette streets. It emerged as the likely buyer for the Sun properties last year.
“We’re just excited,” the paper quoted Atapco president Kevin McAndrews as saying. “We have long roots in Baltimore like The Sun does. We’re excited to take on the challenge of transforming an old building into something that’s good for everybody in the city.”