KLNB, the Mid-Atlantic region’s largest privately held CRE brokerage firm, is proud to announce the sale of Arbutus Shopping Center for $16,650,000 located at 1052-1082 Maiden Choice Lane & 4733-4741 and 4738 Westland Boulevard in Arbutus, Maryland. KLNB Retail Capital Markets Team Principals Chris Burnham, Vito Lupo , and their team, were retained as the exclusive sales advisors by AmCap, Inc, the owners of the 87,939-square-foot property. The buyer, Meir Duke of Duke Arbutus, LLC., was represented by b.
The sale of Arbutus Shopping Center stands out as one of the rare grocery-anchored retail transactions in Baltimore County. Anchored by a Weis Markets, it is the only sale in the county this year that includes a credit grocery store, demonstrating the tight supply of offerings in this submarket. Furthermore, it is the first time in over 40 years that the center has sold, having been AmCap’s inaugural acquisition in 1981. With an upcoming debt maturation, KLNB ran an expedited marketing campaign and generated nine offers in just two weeks, underscoring the strong demand and surplus capital actively pursuing the limited grocery anchored shopping centers in the market.
“Overall, this was a great team execution. We thank the Seller for trusting us throughout the process, as well as the Buyer, and MFI Realty for a seamless execution and helping to get this to the finish line,” states KLNB’s Burnham. “The sale of Arbutus Shopping Center highlights the pent-up demand for grocery anchored retail centers and clearly demonstrates the lack of supply for this product type.”
The retail shopping center spans two separate parcels totaling 7.88 acres, with one situated along Maiden Choice Lane and the other on Westland Boulevard. It is anchored by a high performing 37,300-square-foot Weis Markets and includes a diverse tenant mix comprising national brands such as Walgreens, Advance Auto Parts, Dollar Tree, and Truist Bank, in addition to various local service-oriented businesses. The property is 95% occupied, with two remaining suites available for lease: a traditional inline retail space and a former drive-thru building. The southeastern parcel, occupied by Walgreens and several community-oriented tenants, is comprised of 3.21 acres, and offers significant long-term development potential.
About KLNB
KLNB is a leading provider of commercial real estate services throughout the Mid-Atlantic region. An independently owned and operated commercial brokerage and real estate services firm, KLNB provides a variety of services including tenant and landlord representation, leasing, consulting, investment sales, property management, multifamily, research, marketing, branding, and financing services. More than 120 full-time brokerage professionals work across KLNB’s five offices strategically located throughout the Washington, D.C. / Baltimore region. http://klnb.com
Photos of the property.
