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Cushman & Wakefield Arranges $55M Sale of Shopping Center in Frederick
Cushman & Wakefield arranged the sale of Frederick Shopping Center, a 236,615-square-foot grocery-anchored center in Frederick, Maryland. The final sale price was $55.5 million.
A Cushman & Wakefield team of John Owendoff, Paul Collins and Miles Tonkel represented the seller, Rosenfeld Realty Company, in the transaction. The property was acquired by a joint venture between Willard Retail and Frankel Properties. Michael Zelin and Marshall Scallan, also of Cushman & Wakefield, represented the buyer for acquisition financing.
Frederick Shopping Center is 99% leased and anchored by Giant Eagle grocery. The property’s tenant roster also includes Ashley Furniture, Staples, Glory Days Grill, Bonefish Grill, Capital One, and PNC. The center has consistently demonstrated strong operating performance since its original development in 1957. This transaction marks the first time the property has changed ownership.
“This transaction reflects the enduring strength and appeal of grocery-anchored retail centers in high-growth markets like Frederick,” said Owendoff.
