Savills Studley, the leading commercial real estate firm specializing in tenant representation, represented Poverni Sheikh Group (PSG) in the purchase of a 8,100-square-foot industrial flex building located at 1413 South Haven Street in Baltimore’s Canton neighborhood. The real estate company plans to redevelop the property into a 110,000-square-foot Extra Space Storage facility.

Known for its adaptive reuse of historic and distressed structures and self-storage development expertise, PSG is a full-service real estate development company based in Baltimore. The firm provides development, brokerage, construction and property management services in addition to maintaining a diverse real estate portfolio of mixed-use, office and multifamily projects.

“Acquiring the South Haven property was part of our continued strategy to identify, procure and redevelop unique real estate assets that improve and add value to surrounding communities,” said Greg Kostrikin, principal at PSG. “The market intelligence and experience from the Savills Studley team helped inform and affirm our purchase decision. We’re so pleased to have South Haven as part of our growing portfolio.”

Built in 1916, the 1413 South Haven property boasts 36-foot ceilings, a loading dock and a drive-in bay. PSG acquired the flex building for $1.93 million from South Haven, LLC.  

The Savills Studley team included Baltimore brokers George Santos, senior managing director, and Ryan Miller, managing director.

“The acquisition of the South Haven property signals PSG’s expanding footprint and growth in the market. Being a Canton resident myself, this transaction was extremely memorable as the area continues to see new residential and commercial developments,” said Miller. “This is the second sale we have arranged for PSG in four years and we look forward to securing more locations in the future.”

Savills Studley launched its Baltimore office in 2015, expanding the firm’s footprint in the Mid-Atlantic region. The office delivers sophisticated real estate advisory and transaction services to the area’s top tenants, including government, non-profit, education, healthcare, legal, technology, financial and industrial users. Since opening, the Baltimore location has developed a track record of achievement and creative problem-solving for clients of all sizes and across all industries. 

About Savills Studley

Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive platform includes brokerage, project management, capital markets, consulting and corporate services. With 30 offices in the U.S. and Canada, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.

The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 32,000 professionals and over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).

For more information, please visit www.savills-studley.com and follow us on LinkedIn and Twitter @SavillsStudley.