Owings Mills-based Lakeside Village brought in $9.6 million. The one-year-old 60,000-sf center, anchored by a Food Lion grocery store, is leased to maximum capacity. In Rosedale, the nearly 160,000-sf Golden Ring Plaza Shopping Center sold for $15.9 million. The building and the 13-acre parcel it occupies are valued at $13.4 million. Like Lakeside Village, 17-year-old Golden Ring boasts a grocery store, Giant Food, as its anchor. And in Stevensville, the 40,000-sf Kent Island Shopping Center, which has a Tru-Valu Hardware outlet as its lead tenant, went for nearly $2 million. Queen Anne's County tax records list the 4.6-acre property's value at $1.6 million

"This recent activity is indicative of the extremely robust sales environment that was prevalent throughout 2002 and is continuing this year," says Kevin Barrett of KLNB Retail. "Investors, specifically institutions and fund managers that seek strong investment vehicles are increasingly purchasing retail projects that offer stable tenancy in attractive markets. The continued low interest rates are also driving these transactions."