Commercial real estate firm Edge Capital Markets on Monday announced it brokered the sale of 154 N. Market St. and 8 E. 2nd St., a portfolio consisting of a two-story building comprising 24,195 square feet of Class “A” commercial office space, and the 8,875-square-foot Maxwell Street Garage, both in historic downtown Frederick.
154 N. Market St. was 91% leased and occupied at the time of sale and the projects combine for 33,070 square feet of space. Joe Friedman, Partner, Edge Capital Markets and Joshua Norwitz, Senior Associate, Edge Capital Markets represented the seller, MP Fund I North Market, LLC.
The historic art-deco building was originally constructed in 1860 with subsequent renovations and additions. In 2016, the previous ownership executed a complete “gut renovation” of the office building and rebranded the building as “Second and Market.”
The Market Street portfolio is situated in the center of downtown Frederick’s amenity-rich and vibrant urban core. Second and Market is home to a credit-worthy tenant roster which includes many of Frederick’s leading and tenured locally owned businesses including those involved in the wealth management, banking, government IT contracting and craft retail industries. The Maxwell Garage serves as a rare amenity in Frederick’s dense downtown neighborhood, offering more than 33 reserved parking spaces available for Second and Market’s tenants.