Renovated 280,000-Square Foot Shoppers Food-Anchored Center at 5457 Baltimore National Pike 99% Leased to 16 National and Regional Tenants
Greysteel, a national commercial real estate investment services firm, has arranged the sale of Catonsville Plaza, a retail center in Baltimore, MD, for $28.6 million. Greysteel’s retail team led by Managing Director, Gil Neuman, represented the sellers, an affiliate of Hutensky Capital Partners, and procured the buyer, Mosaic Realty Partners.
Located at 5457 Baltimore National Pike in the Catonsville community of Baltimore County, Catonsville Plaza totals nearly 280,000 square feet on over 15 acres. The shopping center is 99% leased to 16 tenants including anchor Shoppers Food Warehouse and Dollar General, Planet Fitness, Planet Aid, Merchant’s Tire & Auto Centers, Forman Mills, Salontra Suites, DaVita, Dunkin Donuts, Subway and Metro PCS.
“The sellers diligently created new asset value through strategic leasing, renewals, and capital upgrades,” said Mr. Neuman. “The buyers have acquired a stabilized credit-tenant asset fronting a high-traffic commercial corridor in a dense and growing demographic,” he added.
The center lies 2.5 miles from the Woodlawn Federal Center housing the Social Security Administration Headquarters and the Centers for Medicare and Medicaid Services, employing 16,000 people, and a regional FBI Headquarters. Home to nearly 150,000 residents within three miles, the area is minutes from Downtown Baltimore and less than 40 miles from Washington, D.C, with access to four interstate highways and access to Amtrak, MARC commuter rail, MTA bus lines, and Baltimore Light Rail.
About Hutensky Capital Partners:
Hutensky Capital Partners is a fund manager based in Hartford, CT that invests in retail assets with value-add opportunity in major U.S. markets via joint ventures, direct investment and the purchase of debt. Over the past decade, HCP has raised multiple equity funds and is currently investing through Hutensky Capital Partners III, a fully discretionary fund that has over $115 million of institutional equity commitments. HCP is an affiliate of the full service retail real estate firm, The Hutensky Group founded in 1979. For more information on Hutensky Capital Partners, visit www.hcpfund.com.
About Mosaic Realty Partners:
Mosaic Realty Partners is a private real estate investment firm founded in 2012 by its principals, Isaac Pretter and Eron Sodie, for the primary purpose of investing in office, retail and industrial real estate in the Mid-Atlantic. Since inception, Mosaic has acquired 1.6 million square feet of commercial property with an investment value in excess of $180 million. For more about Mosaic, see www.mosaicrp.com.
Greysteel is a commercial real estate and capital markets services firm with seven offices located in Los Angeles, CA; Washington, D.C.; Baltimore, MD; Philadelphia, PA; Dallas, TX; and Fort Worth, TX. Greysteel serves and advises private and institutional real estate investors and developers in the marketing, sale, and financing of private capital and middle-market real estate assets.