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Washington DC  + DC Metro  + Retail  | 
Klein Enterprises has acquired eight retail centers in MD and VA from Cedar Realty Trust.

Klein Enterprises Bags Portfolio of Nine Grocery-Anchored Retail Centers

Baltimore, MD-based Klein Enterprises has acquired of a portfolio of eight grocery-anchored shopping centers spanning MD and VA, plus one in PA. United Bank provided debt financing for the acquisition.

Klein purchased the portfolio from Cedar Realty Trust in conjunction with the broader asset acquisition of Cedar’s grocery-anchored portfolio by a joint venture between DRA Advisors and KPR.

The portfolio totals over 800,000 square feet and was approximately 80% leased at the time of closing.

  • Yorktowne Plaza, Cockeysville, MD
  • Valley Plaza, Hagerstown, MD
  • The Shoppes Arts District, Hyattsville, MD
  • Oakland Mills, Columbia, MD
  • Elmhurst Square, Portsmouth, VA
  • General Booth Plaza, Virginia Beach, VA
  • Kempsville Crossing, Virginia Beach, VA
  • Oak Ridge Shopping Center, Suffolk, VA
  • Swede Square, East Norriton, PA

With this acquisition, the Klein portfolio value has increased by 10% and encompasses 3.5 million square feet of commercial space along with 2,000 multifamily apartments and 1,000 additional units in development.

Photo: The Shoppes Arts District


Inside The Story

Klein Enterprises

About Lisa McDuffie

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.

  • ◦Sale/Acquisition