Local group closes deal for 2 downtown Baltimore office buildings

Daily Record Staff//November 20, 2020//

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Kemp Byrnes, Brad Byrnes and Dave Gupta have acquired 223 and 225 E. Redwood St. in downtown Baltimore with intentions to execute a comprehensive $5 million redevelopment and rebranding strategy of the two properties.

redwood-310 — An artist’s rendering of a proposed renovation plan for 223 and 225 Redwood St. in Baltimore. (Submitted rendering)

Members of the two limited liability entities associated with the purchase include Kemp Byrnes and Brad Byrnes of Byrnes & Associates, Inc., a Baltimore-based boutique commercial real estate and investment company, as well as Dave Gupta, a local entrepreneur.

225 E. Redwood St., a four-story building formerly known as the Vickers Building will be rebranded to Vickers Exchange. 233 E. Redwood St., a 13-story building formerly known as the Garrett building will be rebranded to the Redwood Exchange. The two adjacent buildings combine for approximately 90,000 square feet of office and retail space.

The immediate strategy is to transform the upper floors of The Redwood Exchange, which currently services as the offices for law firm Gordon Feinblatt, LLC, to multi-tenant office space, with event/entertaining space and magnificent conference rooms located on the second and third floors. Both buildings are Class “A” historic buildings located in Baltimore’s historic business and financial district.

The ground floors of both buildings will be leased to restaurant and retail users. More than $3 million has been invested in the properties over the past five years by the previous owner to upgrade the exterior, interior common areas and HVAC system.