The prominent Falls Road building that long housed the family-owned Princeton Sports retailer is becoming an office space and warehouse for a Baltimore interior design firm.

Katherine Crosby, owner and lead designer at Mount Vernon-based Crosby Jenkins purchased the 1-acre plot in Baltimore County, which includes a 15,000-square-foot building and a 67-space parking lot, last week for $4.2 million, the Baltimore Business Journal reported.

The building had been empty since Princeton Sports, which had been in business for 89 years, closed in February.

“We were just ready for a move,” Crosby told The Baltimore Banner. “We wanted to bring more of our storage, our inventory and our curated items in-house.”

The interior design firm has been around since 1972. At that time, it was called Alexander Baer Associates, named after its founder.

In 2006, fellow interior designer Jay Jenkins took over the firm, leading to another name change: Jenkins Baer Associates. Jenkins had worked under Baer for more than a dozen years.

Crosby, a Baltimore native and Lutherville resident, joined the design business in 2008. When Jenkins was ready to step down from day-to-day management last year, Crosby bought the firm, becoming principal designer and changing its name to Crosby Jenkins.

The firm has 25 people employees and works with clients across Maryland and other states.

It has been in at its location on Chase Street in Mount Vernon for 40 years, Crosby said. Leaving will be bittersweet, she added.

Alan and Paul Davis, brothers and former owners of Princeton Sports, said they’re excited that Crosby has purchased the building.

“We’re feeling great about it,” Paul Davis said. “It’s everything we could have asked for. I think it’s going to be a nice plus for the area.”

The Davis brothers’ father, Sonny Davis, assisted in the design of the building in the 1970s. Before Princeton Sports expanded to occupy the entire space, it once also housed a beauty salon and a pet store, Paul Davis said.

Paul Davis said there was a lot of interest in the building, which sits near the northern border of Baltimore. A cannabis company wanted to purchase it, Paul Davis said. “But we couldn’t do that to the community, so we said no to that.”

Crosby Jenkins Associates, on the other hand, “fits right into the neighborhood,” Paul added.

The Falls Road corridor is lined with businesses, many of which are related to home improvement and design.

Crosby, who purchased the building through a limited liability company, said she plans to renovate and redesign the property over the next year or longer, she said.

She plans to lease part of it to Crosby Jenkins for its offices, displays and warehousing. About 5,000 sq. ft. will be rented out to other businesses.

Crosby said she grew up going to Princeton Sports. Her daughter inspired her to purchase the location.

“I always loved that it was family-owned,” Crosby said. “That is something that I think is unique in this day and age of the large stores. And to be able to keep an owner-occupied space alive on that Falls Road corridor was really exciting to me.”