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North Providence Marketplace
Investment salesMarylandNewsRhode Island

Greenberg Gibbons Acquires Two Shopping Centers in Rhode Island, Maryland for $34.6 Million

by Julia Sanders

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 …

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7-Eleven
Investment salesMarylandNews

Boulder Group Arranges $6.2 Million Sale of 7-Eleven Property in Ocean City, Maryland

by Julia Sanders

Ocean City, Md. — The Boulder Group has arranged the $6.2 million sale of a newly constructed 7-Eleven property located at 11624 Ocean Gateway in Ocean City. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer, an undisclosed individual based in the northeast, and seller, an undisclosed private real estate firm, in the transaction.

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LeasingMarylandNews

Eight Retailers Join Tenant Lineup at Northwood Commons in Baltimore

by Julia Sanders

Baltimore, Md. — MCB Real Estate, MLR Partners and Northwood SC LLC have signed leases with eight new retailers to open at Northwood Commons, a mixed-use project in Baltimore. New tenants include IHOP, Downtown Locker Room, Chipotle Mexican Grill, Harbor Bank, Tropical Smoothie Café, Beauty Plus, Le’s Nail Bar and Georgia Peach. IHOP will occupy 4,600 square feet of space; Downtown Locker Room or DTLR will occupy 4,500 square feet of space; and Chipotle Mexican Grill will occupy a 2,335-square-foot space.

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St. Thomas Shopping Center
LeasingMarylandNews

Greenberg Gibbons Adds Four Retailers at St. Thomas Shopping Center in Owings Mills, Maryland

by Julia Sanders

Owings Mills, Md. — Greenberg Gibbons has signed leases with four new retailers to join the tenant roster at St. Thomas Shopping Center in Owings Mills. Michaels will occupy a 23,045-square-foot space near Baltimore Sports & Novelty. Next Door Pharmacy and uBreakiFix will occupy 1,600-square-foot spaces; and Boston Market will open in a 2,000-square-foot space. Next Door Pharmacy, uBreakiFix and Boston Market will open this fall and Michaels will open in fall 2022. Thomas Shopping Center is located on Reisterstown Road adjacent to Foundry Row, a mixed-use center also owned …

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Landing at Woodyard
FinanceMarylandNews

JLL Secures $44.5 Million Loan for Landing at Woodyard in Metro D.C.

by Julia Sanders

Clinton, Md. — JLL Capital Markets has secured a $44.5 million loan for The Landing at Woodyard, a newly redeveloped, 210,000-square-foot shopping center located in the Washington, D.C. suburb of Clinton. JLL worked on behalf of the borrower, Meritus Realty Ventures, to place the 10-year, fixed-rate CMBS loan with Morgan Stanley Real Estate. Loan proceeds were used to repay the existing bridge loan and fund remaining improvements for the tenants that recently signed new leases. Meritus has owned Landing at Woodyard since 2016. The center is 95 percent leased with …

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At Home
LeasingMarylandNews

Heritage Partners Signs At Home to 96,446-Square-Foot Lease in Woodmore Towne Centre in Glenarden, Maryland

by Julia Sanders

Glenarden, MD. — Heritage Partners has leased a space formerly occupied by JC Penney at Woodmore Towne Centre in Glenarden to At Home, a home decor retail chain based in Plano, Texas. At Home will fully occupy the 96,446-square-foot space, initially taking possession early 2021 and opening this summer. At Home currently operates 227 stores in 40 states. Woodmore Towne Centre is a 245-acre mixed-use property with retail tenants such as Best Buy, Wegmans and Nordstrom Rack. In the summer of 2020, the JC Penney at Woodmore Towne Centre closed, …

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Company newsMarylandNews

Under Armour’s First-Quarter Sales Exceed Analysts’ Estimates, Surpass Previous Year

by Julia Sanders

Baltimore — Athletic apparel giant Under Armour Inc. (NYSE: UA) has reported $1.3 billion in sales in its fiscal first quarter of 2021, a 35 percent jump from last year’s first-quarter sales. The Baltimore-based company’s fiscal first quarter ended on March 31. Under Armour’s earnings in the quarter totaled 16 cents per share, which far surpasses the 3 cents expected by analysts, according to CNBC. The company reported an increase of $1.26 billion in revenue from the $930.2 million recorded in the first quarter of 2020. Additionally, the brand’s net …

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Investment salesMarylandNews

Neuman Commercial Group Arranges $8.1 Million Sale of 22,782-Square-Foot Retail Center in Suburban Baltimore

by Julia Sanders

Owings Mills, Md. — Neuman Commercial Group has arranged the sale of Owings Mills Retail Center, a 22,782-square-foot property located at 9400-9424 Reisterstown Road in the Baltimore suburb of Owings Mills. The property is 94 percent occupied by tenants such as NTB Tire & Service, Dunkin’, Jersey Mike’s Subs and The Vitamin Shoppe. Gil Neuman of Neuman Commercial Group represented the seller, Cohen‐Fader LLP, in the disposition of the property for $8.1 million. Neuman also procured the private undisclosed buyer.

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DevelopmentMarylandNews

Brandywine Realty Trust, Terrapin Development to Build $300 Million Mixed-Use Neighborhood on UMD Campus in College Park

by Julia Sanders

College Park, MD. — Terrapin Development Co. (TDC), in partnership with the University of Maryland-College Park (UMD), has entered into an exclusive development agreement with Brandywine Realty Trust for an upcoming mixed-use project on the UMD campus. The Philadelphia-based REIT will develop a mixed-use neighborhood spanning five acres in College Park within the university’s Discovery District. The development project is set to cost over $300 million. The development will feature 550,000 square feet of Class A workspaces encompassing research, office, collaboration and retail space, as well as 200 to 250 …

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Manokeek Village Center
Investment salesMarylandNews

JLL Brokers $17.4 Million Sale of Manokeek Village Center in Metro D.C.

by Julia Sanders

Accokeek, MD. — JLL has brokered the $17.4 million sale of Manokeek Village Center, a 74,470-square-foot, grocery-anchored shopping center in the Washington, D.C., suburb of Accokeek. Bill Moylan, Jordan Lex and Daniel Naughton of JLL marketed the property on behalf of the seller, The JCR Cos. Evan Park of JLL arranged a 10-year, fixed-rate acquisition loan on behalf of the buyer, AmCap Necessity Retail Fund LLC. Completed in 2003, Manokeek Village Center is 96 percent leased to tenants including Giant, Starbucks Coffee and Advance Auto Parts. The site has a …

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