Crofton, Md. — Two new tenants will join the roster at Seven Oaks Shopping Center in Crofton. Jersey Mike’s and Bruster’s Ice Cream will occupy a 3,046-square-foot pad site at the property, which is anchored by Weis Markets. Brandon Howard of Divaris Real Estate represented the landlord in the lease negotiations.
Salisbury, Md. — KLNB has brokered the $14.2 million sale of College Square Shopping Center in Salisbury. Tenants at the center, which was 97 percent leased at the time of sale, include Dollar Tree, BioLife Plasma, Ace Hardware and Planet Fitness. Chris Burnham, Vito Lupo, Andy Stape and Jake Furnary of KLNB’s Retail Capital Markets team arranged the sale on behalf of the seller, Rockford Capital Partners, which has owned the property since 2015.
Baltimore — Chasen Cos. has signed Puttshack to The Whitney, a five-story mixed-use building in Baltimore’s Harbor East neighborhood. Scheduled to open in late 2024, the space will mark the first Maryland location for the brand, which currently has nine locations in the U.S. The space will comprise roughly 25,000 square feet and feature three nine-hole mini-golf courses, private event space, two full-service bars and an outdoor patio space with 50-seat capacity.
New York City — The Necessity Retail REIT Inc. (RTL) has completed the sale of 44 properties leased to Bob Evans restaurants for a total $93 million. The restaurants are located in Kentucky, Indiana, Ohio, Michigan, Delaware, Pennsylvania, Virginia, West Virginia and Maryland. “With this sale, we have intentionally reduced our total portfolio exposure to fast casual dining to less than 2 percent from 4 percent, based on annualized straight-line rent,” says Michael Weil, chief executive officer of RTL.
Maryland — Slim Chickens has signed a deal with Phoenix Foods LLC to open eight new locations in the Maryland counties of Anne Arundel, Baltimore, Carroll and Harford. Brad Hoag, franchisee and owner of Phoenix Foods, will operate the locations, which will join another 1,100 restaurants currently in development for the brand. Hoag, who is based in Baltimore, is a former developer and operator of 10 Qdoba Mexican Grill locations and currently operates 10 Burger King restaurants.
Gaithersburg, Md. — WRS Real Estate Investments has successfully rezoned a 100-acre site in Gaithersburg that houses Lakeforest Mall. The Gaithersburg City Council approved the rezoning of the site for mixed-use as well as a sketch plan of the future development. WRS purchased the core of the 1.1 million-square-foot regional mall in 2019. In 2022, the developer purchased the mall’s remaining department stores: J.C. Penney, Lord & Taylor, Sears and Macy’s. Upon completion, the mixed-use village will comprise up to 1.25 million square feet of retail, restaurant, dining, hospitality and …
Ellicott City, Md. — Giant Food has partnered with Nalley Fresh to open a restaurant within the grocer’s Ellicott City store, roughly 13 miles outside Baltimore. Nalley Fresh offers customizable salads, wraps and bowls. The restaurant marks the tenth location for the restaurant and the first in-store fast-casual partnership for Giant Food, which currently operates 165 stores.
California, Md. — A joint venture between AmCap Inc. and Encore Enterprises has acquired First Colony Center, a 98,179-square-foot shopping center located in the Washington, D.C., suburb of California. Tenants at the center include Giant, Michaels and Advance Auto Parts. Target, Lowe’s Home Improvement and BJ’s Wholesale Club shadow anchor the property.
Waldorf, Md. — First National Realty Partners has acquired Waldorf Marketplace, a 359,484-square-foot shopping center located in Waldorf, approximately 30 miles outside Washington, D.C. A 58,092-square-foot Safeway anchors the property, which is also home to tenants including Hobby Lobby, Jared, Petco, Starbucks Coffee, Wells Fargo, Red Robin, TGI Fridays, Bath & Body Works and Famous Dave’s. The purchase marks First National Realty Partners’ fourth retail center acquisition within the DMV-metropolitan area.
Rosedale, Md. — KLNB has brokered the $7.2 million sale of Kenwood Shopping Center, a 90,961-square-foot retail center located in Rosedale, a suburb of Baltimore. America’s Realty and investment partners purchased the center from a private family that has owned the property since it was developed more than 40 years ago. Chris Burnham, Vito Lupo, Andy Stape and Jake Furnary of KLNB represented the seller in the transaction. Kenwood Shopping Center was 92 percent leased at the time of sale to tenants including Advance Auto Parts and Goodwill.
