HFF Brokers Grocery-Anchored Retail Sale in MD
- Dec 19, 2017
HFF has arranged the sale of North East Station, an 87,006-square-foot, grocery-anchored shopping center in North East, Md. The HFF team represented the seller and procured the buyer, Klein Enterprises.
Located halfway between Baltimore and Philadelphia, at 2500-2548 West Pulaski Hwy., the retail center is situated on 42.2 acres, at the intersection of Routes 40 and 272. North East Station is anchored by Food Lion, and is approximately 90 percent leased by tenants like Walgreens, AutoZone and Wendy’s.
North East Station
The HFF team representing the seller included Managing Director Chris Munley, Senior Director Jordan Lex, Director Michael DiCosimo, Managing Director John Owendoff and Executive Managing Director Stephen Conley.
“Anchored by a well-performing Food Lion, North East Station was well received in the investment community,” Munley said, in prepared remarks. “Grocery-anchored retail continues to demand premium pricing, and North East Station was no exception, as there were a significant amount of competitive bids near or at ultimate strike price that were procured during marketing.”
In November, HFF arranged the sale of another 85,576-square-foot grocery-anchored retail center, located in suburban Philadelphia.
Image via Google Street View