Baltimore Retail Center Sells for $12M Following $9M Acquisition in 2013
Continental Realty Corporation has completed the $11.9-million sale of Merritt Manor Shopping Center, an 88,332-square-foot fitness-anchored retail center in the Baltimore, MD submarket of Dundalk. Columbia, MD-based Abrams Development Group acquired the asset.
A Marcus & Millichap team of Dean Zang and David Crotts represented seller CRC in the transaction.
The center, located at 1119-1211 Merritt Boulevard, was 96% leased and occupied at sale. CRC acquired the property for $8.6 million in 2013, when it was 83% leased, and executed on a comprehensive renovation of the center’s exterior façade to strengthen leasing demand. The Baltimore-based firm also subdivided a roadside pad site and successfully sold the pad into the triple net market in 2021.
Merritt Manor Shopping Center is anchored by Gold’s Gym and has a tenant roster with a mix of national and local retailers, including Sherwin-Williams, Dollar General, Hair Cuttery, GNC, Chicken Rico and Leslie’s Swimming Pool Supplies.