Greenspring Realty Partners Inc. and The Berg Corp. have purchased a 12-acre marine terminal with two piers in Baltimore near the Seagirt Marine Terminal.
The companies purchased the property at 4601 Newgate Ave. from Vane Brothers for an undisclosed price. State property records for the parcel do not reflect the sale. The three parcels of property include a 700-foot long pier on the east side of the property and a 1,400-foot long pier on its west end.
“Our initial interest in (the property) was predicated on its status as the only available deep water berth situated in the greater Baltimore metropolitan region, other than Tradepoint Atlantic,” Dan Flamholz, principal at Greenspring Realty Partners, said in a statement.
The property has grain silos that can store more than 4 million bushes of grain, a feature that may be attractive to a future tenant, according to Greenspring Realty Partners executives. Alternatively, the silos could be razed to make way for up to three tenants.
This deal follows the Maryland Port Administration announcement that it plans to build a cargo-handling facility on 1.5 acres at the Locust Marine Terminal to boost capacity.
In recent years the Port of Baltimore, one of the few deep enough to handle the massive Panamax ships, has consistently set new cargo records. Last year it set a new record, unloading more than 850,000 cars and light trucks.