Search
 

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

BALTIMORE-The final papers were signed Friday on DLC Management Corp.'s $13-million acquisition of Mount Clare Junction. GE Capital takes home nearly $13 million for the grocery-anchored property.

By Glen Thompson | Updated on January 24, 2003

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.