Bel Air, Md. — A joint venture affiliated with Rappaport has acquired Festival at Bel Air, a 433,720-square-foot shopping center in the Harford County community of Bel Air. The shopping center was 94 percent occupied at the time of sale by 60 retailers, including anchors Klein’s ShopRite, Kohl’s, Burlington, Marshalls, Petco and The Tile Shop.
Bethesda, Md. and Costa Mesa, Calif. — Bethesda-based retail real estate owner First Washington Realty (FWR) has purchased Donahue Schriber Realty Group Inc., a shopping center owner based in Costa Mesa. An affiliate of FWR acquired the private retail REIT and its portfolio of grocery-anchored, open-air centers from institutional investors advised by J.P. Morgan Global Alternatives. The transaction adds 47 shopping centers, as well as one DSRG-owned office property, for a combined 6 million square feet to FWR’s holdings. The sales price was not disclosed, but Bloomberg reported in February that …
Oxon Hill, Md. — Four new restaurants and entertainment concepts are set to open at National Harbor, a waterfront mixed-use development by Peterson Cos. in Oxon Hill, about 12 miles from Washington, D.C. New openings will include Tom’s Watch Bar, a 10,881-square-foot sports bar; Sticky Situation, a 2,862-square-foot honey and syrup tasting room; Escapology, a 3,675-square-foot escape room; and Silver Diner, a 7,132-square-foot restaurant offering classic diner food with an open-air bar and patio. The new tenants are set to open in late 2022 and early 2023. National Harbor is …
Silver Spring, Md. — DSW is set to open at Ellsworth Place, a 350,000-square-foot retail and entertainment development by GBT Realty Corp. in Silver Spring, about 5 miles from Washington, D.C. The retailer will open within a 17,500-square-foot space formerly occupied by Guitar Center. Construction on the property is currently underway with DSW expected to open in March. DSW joins tenants at Ellsworth Place including Burlington, Ross Dress for Less, Marshalls, Michaels, T.J. Maxx and Dave & Buster’s.
Glenarden, Md. — Urban Edge Properties has welcomed LA Fitness to Woodmore Towne Centre, a shopping center located at 2250 Petrie Lane in Glendarden. The retailer opened a 42,154-square-foot gym within the center. Additional tenants set to open at the shopping center include Ledo Pizza and European Wax Center, which are both expected to open soon, and Burn Box and Club Pilates, which will open by the second quarter of 2022. The property is 97 percent leased to tenants including Wegmans, Costco, Best Buy, At Home, Nordstrom Rack and Starbucks …
Attleboro, Mass. and Baltimore — Inland Private Capital Corp. (IPC) has sold two BJ’s Wholesale Club locations in Massachusetts and Maryland. IPC facilitated the sale on behalf of its 1031 investment program East Coast Wholesale Portfolio DST. The portfolio includes a 115,660-square-foot BJ’s Wholesale Club located at 287 Washington St. in Attleboro, Massachusetts; and an 89,348-square-foot BJ’s Wholesale Club located at 4701 O’Donnell St. in Baltimore. The buyer and terms of the transaction were undisclosed.
Glenarden, Md. — Urban Edge Properties has acquired Woodmore Towne Centre, a 712,000-square-foot grocery-anchored shopping center located on 83 acres in Glenarden, along with an adjacent 22-acre land parcel for $193.4 million. Funding for the acquisition included cash on-hand and a $117.2 million non-recourse first mortgage loan. The financing features a 10-year term and is interest-only for the entire loan term. Woodmore Towne Center is situated nine miles from the center of Washington, D.C., off the Capital Beltway. The property was 97 percent leased at the time of sale to …
Townson, Md. — Whole Foods Market is set to open a 59,119-square-foot store within the Towson Row mixed-use development in Towson, roughly 14 miles outside Baltimore. The new location is situated near Towson University and will open this month. The store will feature an upstairs mezzanine with a lounge; arcade and outdoor seating; a community room; full-service coffee bar; prepared foods section; full-service seafood counter; an array of organic, conventional produce and flowers; a specialty foods department; full-service meat counter; bakery department; grocery pick-up services; and a wellness and beauty …
Time Equities Acquires Three Shopping Centers in Maryland, Indiana and Mississippi for $23.4 Million
Glen Burnie, Md., Munster, Ind. and Jackson, Miss. — Time Equities Inc. (TEI) has acquired three shopping centers totaling 307,284 square feet in Maryland, Indiana and Mississippi for $23.4 million. Acquisitions include Harundale Plaza, a 217,619-square-foot, Lidl-anchored retail center in Glen Burnie, Maryland. The property was acquired for $16.4 million from SITE Centers and Limited Partners. Ryan Sciullo, R. William Kent, Matt Karempelis and Chris Decoufle of CBRE represented the sellers in the transaction. TEI also acquired Ridgewood Plaza, a 36,307-square-foot shopping center anchored by Applebee’s in Munster, Indiana, for …
North Providence, RI. and Westminster, Md. — Greenberg Gibbons has acquired two shopping centers located in Rhode Island and Maryland for $34.6 million. Acquisitions include North Providence Marketplace, a 112,000-square-foot grocery-anchored center located in North Providence, Rhode Island; and Westminster Crossing East, a 92,000-square-foot shopping center located in the Carroll County community of Westminster, Maryland. North Providence Marketplace was 82 percent leased at the time of sale to tenants including Shaw’s Grocery Store, Dollar Tree, Sally Beauty Supply, H&R Block and EbLens. Tenants including Marshalls, Bed Bath & Beyond, Ulta …