Costco Plaza

In December 2017, Mosaic acquired Costco Plaza, a 209,851 square foot, grocery-anchored shopping center, anchored by a 109,920 square foot Costco. Located in White Marsh, Maryland, the property is northeast of downtown Baltimore on US Route 40/Pulaski Hwy. White Marsh is one of Baltimore County’s most successful retail markets with 11 major shopping centers totaling 3.7 million square feet, extremely low vacancy, and high residential density and traffic volumes.

The property is currently 100% leased to six national tenants including anchor Costco, and Big Lots, PetSmart, Pep Boys, Dollar Tree and Burger King. The shopping center is shadow-anchored by a 125,000 square foot Home Depot, which is a strong regional draw along with Costco. The balance of the tenant mix is well-suited to the local community. In April 2022, we successfully completed the sale of Costco Plaza. Investors earned an IRR of 29% and a multiple of 2.58x on their investment.

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