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 $4.5 million. Tom Fritz of Stan Johnson Co. represented the undisclosed seller in the transaction. TEI also acquired Triangle Mart, a 53,358-square-foot center in Jackson, Mississippi, for $2.6 million. Tenants at the fully-occupied property include Humana, Citi Trends and Rent-A-Center. Grant Ridgway of CBRE represented the seller in the transaction. Ami Ziff, Jonathan Kim and Grant Scott represented Time Equities Inc. in-house in all three acquisitions. Carly Kelly of Blue West Capital assisted TEI on the Ridgewood Plaza transaction.