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Washington DC  + DC Metro  + Retail  | 
Generic image of a grocery store aisle

Time Equities Invests $23M in Strategy to Acquire “Essential” Grocery-Anchored Plazas in MD, Elsewhere

Time Equities, Inc., has acquired Harundale Plaza in Glen Burnie (near Silver Spring), MD, for $16.4 million. The 217,619 square-foot grocery-anchored hopping center is located on Ritchie highway and anchored by Lidl Grocery.

Time Equities, Inc., also recently purchased Triangle Mart, a 53,358-square-foot, 100% tenant occupied plaza in Jackson, MS, for $2.5 million and Ridgewood Plaza, a 36,307-square-foot center in Munster, IN, for $4.5 million.

“Our continued expansion into grocery-anchored shopping centers highlights the trends we saw over the past year, in which grocery stores and other essential retail locations were profitable through the most uncertain times,” said Ami Ziff, director of national retail at Time Equities, Inc.

In Maryland’s Harundale Plaza transaction, Ryan Sciullo, R. William Kent, Matt Karempelis and Chris Decoufle of CBRE represented the sellers, SITE Centers and Limited Partners, while Ami Ziff, Jonathan Kim and Grant Scott represented Time Equities, Inc.

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Time Equities, Inc.’s Ziff

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 he makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition