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.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.