Real estate companies to buy McCormick building

Caves Valley Partners has joined with B&B Realty Services to buy a McCormick & Co. administrative building in Hunt Valley with plans to upgrade the property and bring in new tenants.

McCormick is consolidating its headquarters operations and employees in a rehabilitated building at the corner of Shawan and York roads.

After the spice company moves out of the 128,000-square-foot building at 211 Schilling Circle, an official for Caves Valley said, the real estate companies plan to spend several million dollars on improvements before transforming it into a multitenant property, officials said.

Closing is expected in the fall. The sale price was not disclosed.

Towson-based Caves Valley has been undertaking many projects of all types in the greater Baltimore region and within Baltimore City, from apartments and retail in Federal Hill to offices in Towson Row. The company has worked with B&B Realty before, including on a planned overhaul of an old Social Security Administration building near Lexington Market.