Business

A Greenmount West building just blocks from Penn Station has been purchased by a local developer and nonprofit who plan to preserve its long-standing status as a hub for the city’s arts community. Area 405 was bought by a partnership consisting of the Central Baltimore Partnership and Baltimore real estate developer Ernst Valery for $3.8 million, the organizations announced Tuesday. The 120-year-old, 71,744-square-foot building was listed for sale last summer and is located at 405-417 E. Oliver St., near Penn Station, which is in the midst of a massive overhaul.

Terran Biosciences Inc. has entered into an agreement with the University of Maryland, Baltimore for a worldwide exclusive license to develop and commercialize a portfolio of UMB’s patents and data to support a novel approach to the treatment of neurological and psychiatric illnesses with psychedelic therapeutics. Terms of the deal were not disclosed.

Local hospitality giants are watching for both near-term and long-term effects on their holdings, industries and staffs as Russia continues to wage a brutal war against neighboring Ukraine. Both Marriott International Inc. (NASDAQ: MAR) and Hilton Worldwide Holdings Inc. (NYSE: HLT) say they are monitoring the situation closely in Ukraine, where much of their response thus far has been humanitarian in nature.

A significant percentage of Carroll County’s workforce is expected to retire within the next five years, so officials are working to find new ways to attract and retain employees. In 2021, 14% of Carroll’s workforce was at or above the average age of retirement (62.5 years old), according to a study by Segal, a consulting firm the county hired. In 2026, that percentage is expected to jump to 30%.

The legal tug-of-war over development of waterfront land in Baltimore’s Westport neighborhood has tilted in favor of a high-speed maglev train operator seeking to build a passenger station on the site where a developer separately proposed housing. The Court of Special Appeals, the state’s second-highest court, granted the appeal of Baltimore Washington Rapid Rail LLC, which is planning a $10 billion project to link Washington and Baltimore and eventually New York with a superconducting magnetic levitation rail system.

Maryland’s six casinos brought in nearly $163 million in February revenue, a 29.1% increase from the same period a year prior when the buildings were operating under COVID-19 capacity restrictions, Maryland Lottery and Gaming said. The state received more than $68 million from the casinos, with nearly $50 million going to the Education Trust Fund. MGM National Harbor led the way with $65.8 million in revenue, followed by Live! Casino & Hotel at $59.4 million.

There aren’t many things creepier than an empty bowling alley. Lights on, floors gleaming, the background hum of the pin-setting machinery — but no humans. Well, one human. His name is George Sloan and he owns White Oak Duckpin Lanes. The Silver Spring bowling center would normally echo with the sounds of action. But the lanes have been closed since November — the victim, Sloan says, of some bad luck and an unfeeling landlord, the B.F. Saul Co.

Would you meditate, go on a bike ride or drink eight glasses of water if it meant your boss would send a donation to a charity you care about? Givhero, a Gaithersburg-based startup, is based on the idea that giving to a cause is strong motivation for employees to complete wellness goals. Through a mobile application, GivHero allows employees to record wellness tasks that they complete, with their employers giving donations to charity when they do so.

Starbucks baristas in the Baltimore area have joined a fast-growing national movement to unionize the giant coffee chain shop by shop amid working conditions that they say have worsened during the coronavirus pandemic. The retailer, meanwhile, has objected to petitions filed by individual stores around the United States and taken steps to convince workers they’ll be worse off with “a union between us.”