DUNKIRK, MD–Lehrco Corp., a locally-based retail development and management company, has acquired Dunkirk Gateway, a 133,269-square-foot, grocery-anchored shopping center. The seller, represented by HFF, was a commingled fund managed by Clarion Partners.
The purchase price has not been disclosed, however public records show that when Clarion Partners acquired the retail center in 2006 it paid $40.3 million, or $302 per square foot.
Lehrco Corp., is owned by native Washingtonian Sam Lehrman, grandson of one of the Giant Food founders. Lehrco's portfolio represents one of the largest retail portfolios owned by an individual in the Washington, DC area, according to HFF, totaling more than one-million-square feet.
Lehrman's market strategy is to acquire select grocery-anchored shopping centers and to hold them for the long term, while allocating significant capital to maintain and enhanced them.
Dunkirk Gateway is situated 18 acres at 10790 Town Center Boulevard in Calvert County. Anchored by Giant, it is 98% leased to such tenants as Sherwin Williams, Olympia Sports, Ledo Pizza, Capital One Bank, Verizon Wireless, AutoZone, Bank of America and Starbucks. The property is shadow anchored by Wal-Mart.
HFF's John Owendoff and Jordan Lex represented the seller.
DUNKIRK, MD–Lehrco Corp., a locally-based retail development and management company, has acquired Dunkirk Gateway, a 133,269-square-foot, grocery-anchored shopping center. The seller, represented by HFF, was a commingled fund managed by Clarion Partners.
The purchase price has not been disclosed, however public records show that when Clarion Partners acquired the retail center in 2006 it paid $40.3 million, or $302 per square foot.
Lehrco Corp., is owned by native Washingtonian Sam Lehrman, grandson of one of the Giant Food founders. Lehrco's portfolio represents one of the largest retail portfolios owned by an individual in the Washington, DC area, according to HFF, totaling more than one-million-square feet.
Lehrman's market strategy is to acquire select grocery-anchored shopping centers and to hold them for the long term, while allocating significant capital to maintain and enhanced them.
Dunkirk Gateway is situated 18 acres at 10790 Town Center Boulevard in Calvert County. Anchored by Giant, it is 98% leased to such tenants as Sherwin Williams, Olympia Sports, Ledo Pizza,
HFF's John Owendoff and Jordan Lex represented the seller.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
