Four months after representatives for the Baltimore Sun disclosed that their Calvert Street headquarters is for sale, a potential buyer has surfaced.
Renee Mutchnik, director of marketing for the Baltimore Sun Media Group, said on Monday that as of today, Tribune Media Real Estate Holdings, the entity handling the sale, has not notified Sun representatives about a sale being concluded.
But others familiar with the transaction say local developer Mark Sapperstein is negotiating to buy the main property at 501 N. Calvert Street and a garage with street level office space at 601 N. Calvert Street. They say the sale price is about $16 million and Sun representatives intend to lease back space in the main building for use as the newspaper’s offices, in an arrangement similar to the way the Sun leases back the printing plant in Port Covington that it sold in 2014 to a group headed by Under Armour CEO Kevin Plank. The Calvert Street property contains 450,000 square feet of space and houses offices for City Paper as well as The Baltimore Sun.
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