GlobeSt.com EXCLUSIVE: DLC Buys 239,000-SF Baltimore Retail Asset

BALTIMORE-Tarrytown, NY-based DLC Management Corp. this afternoon closed on its 35th shopping center acquisition, the 239,000-sf Mount Clare Junction, located here. The seller is GE Capital, which sold the asset for roughly $13 million, sources close to the deal tell GlobeSt.com.

The 85%-occupied property is anchored by a 58,000-sf Safeway supermarket. Other tenants include Pep Boys, First Union Bank, Rent A Center, Subway and H&R Block. The asset is located on West Pratt Street, immediately adjacent to the Baltimore B&O Railroad Museum and within 1.5 miles of the main campus for the University of Maryland Hospital, Ravens Stadium and Camden Yards.

DLC was represented by Cohen & Co. of New York, while Newtown Square, PA’s GMH Capital Partners negotiated on behalf of GE Capital. Financial details of the transaction are not being disclosed.