Investment research firm Angel Publishing purchased a building in Mt. Vernon and intends to expand its team, according to Greenspring Realty Partners, which brokered the sale.
The company will move to 3-5 E. Read St. after acquiring the building for $1.4 million from Paul Wolman, former owner of P.W. Feats. Angel Publishing will relocate more than 40 employees this spring from its current location at the Candler Building, located at 111 Market Pl. along Pratt St. downtown. The company is planning on additional hiring.
The 15-year-old company has been in Baltimore city since 2013, and the move indicates it is planning to stay as it grows.
“After conducting an extensive property search throughout Baltimore City and County, we chose to remain downtown because we believe a strong central city core provides the key tenet for an economically-vital region, and we wish to do our part to support the city,” Jason Freiert, Chief Executive Officer of Angel Publishing, said in a statement. “Midtown is where our corporate roots began, and we are extraordinarily proud to own an iconic building downtown and be a stakeholder and a leader in our community.”
The firm publishes online newsletters providing research, strategy and guidance on financial and market trends.
Built in 1890, the four-story building has 17,000 sq. ft. of office space, with an all-brick facade. It was previously occupied by P.W. Feats, an events management company focused on higher education that was acquired by Bethesda-based August Jackson in 2017. Angel Publishing was represented by Greenspring Realty Partners Director Jon Manekin, while Greg Pinkard and Katherine Pinkard of Pinkard Properties represented the seller.
“The interior and exterior of the building is in excellent physical condition and will require a minimal amount of retrofit activities to support the needs of Angel Publishing,” Manekin said in a statement. “By understanding the culture of Angel Publishing and how the physical space impacts their work, we were able to uncover a building with historic architecture and strategic placement that supports and positively influences the energy and creativity of the firm.”
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