Fully Leased Retail Site Sells for $7M

BALTIMORE-The Walther Shopping Center has hit the market and brought in $6.8 million. A 54,000-sf grocery-anchored retail destination, the Walther Shopping Center property also comes with a pad site capable of accommodating up to 10,000 sf of retail and/or office development. Real estate services firm KLNB Retail handled the deal for the unnamed seller and buyer, with Compass Real Estate also pitching in with representation of the buyer. Walther Shopping Center sits off I-695 at Walther Boulevard and Dunfield Road in Perry Hall, a town just 10 miles outside of Baltimore. The property is currently leased to maximum capacity, and its anchor, Food Lion, accounts for 37,000 sf of space. “Walther Shopping Center is the epitome of a strong, neighborhood shopping center given its strong anchor tenant, customer loyalty in the community and access to nearly 105,000 consumers within a three mile radius,” KLNB’s Mark Mueller notes. “The new owner purchased an extremely well-located asset with a solid tenant base that will increase in value over time.