Baltimore: Alex. Brown building to become retail hub, restaurant

At the time the oldest privately held bank in the U.S., Alex. Brown & Sons was bought by Bankers Trust in 1997 to form BT Alex. Brown. 

Two years later, in 1999, BT Alex. Brown was acquired by Deutsche Bank. BT paid $1.7 billion in a stock acquisition of Alex. Brown.  The Alex Brown name initially survived as Deutsche Banc Alex. Brown, the brokerage services division of Deutsche Bank Securities, but is now a part of Deutsche Bank AG.

The former Alex. Brown headquarters and an adjacent Rite Aid in the heart of downtown are slated for a redevelopment to include a restaurant and several shops, a project viewed as a catalyst in bringing new retail to the city's core.

Tampa, Florida-based Casper Co. bought the Rite Aid building at 125 E. Baltimore St. in May and entered into a partnership with the Griswold family, descendants of Alexander Brown who own the historic building at 135 E. Baltimore St., to redevelop the block.

The company, run by brother-sister team Blake Casper and Allison Casper Adams, own and operate the thriving Oxford Exchange in downtown Tampa. The Oxford Exchange includes a book shop, boutique and coworking offices.

The Caspers are using the Oxford Exchange as a model for the Baltimore project.