$15M in Financing to Turn Around Retail Center

TIMONIUM, MD-Yorkridge Shopping Center has captured the eye of financiers and garnered a $14.5 million non-recourse construction/permanent financing package with the assistance of MacKenzie Commercial Real Estate Services LLC, a Cushman & Wakefield Alliance member. The loan is welcome news for the 160,000-sf strip retail center, which has been languishing from the exit of a movie theater and grocery store.

“There’s an outdated Superfresh store space that’s gong to be renovated, and we’ll move the existing Michael’s store into that space, and demolish the old Michael’s space to make room for a new Kohl’s department store,” Mackenzie senior vice president and principal Glenn C. Ercle explains to GlobeSt.com. The Kohl’s will be the first in Baltimore County. Ercle adds that the property is a good investment and that it will likely succeed with the benefit of renovations, its location on the well-traveled York Road, and because “the demographics in the area are superb.”