The 15-acre Catonsville Plaza has sold to an investment group for $28.6 million.
Mosaic Realty Partners, four-year-old real estate investors based in Northwest Baltimore, purchased the 280,000-square-foot-center on Route 40 that includes 16 tenants with a Shoppers Food market as an anchor. Other tenants include Planet Fitness, Dollar General, Forman Mills, Dunkin’ Donuts and Subway.
The deal is the latest big-ticket sale of a Baltimore County shopping center this year. Greenberg Gibbons paid $34.5 million for the Reisterstown Road Center in February. Greenberg Gibbons’ purchase adds to its already big presence, as the developer prepares to open Foundry Row in Owings Mills this fall.
“The buyers have acquired a stabilized credit-tenant asset fronting a high-traffic commercial corridor in a dense and growing demographic,” Neuman said, in a statement.
The center — near Interstate 695 at 5457 Baltimore National Pike — is currently 99 percent leased.
Melody Simmons Reporter Baltimore Business Journal
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- 08 Aug 2016Catonsville Plaza sells to local investors for $28.6M
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