Search
 

Family Trust Buys The Shoppes at Bowie Town Center

The Shoppes, a 104,000-square foot specialty retail extension of 578,000–square foot Bowie Town Center, traded for $21 million.

By Erika Morphy | Updated on December 20, 2017

The Shoppes at Bowie Town Center

BOWIE, MD–J.A.R. New York RLT, a private family trust based in New York, has acquired The Shoppes at Bowie Town Center for $21 million. Neuman Commercial Group, led by Principal Gil Neuman represented the seller, a private Maryland developer, and procured the buyer.

The Shoppes at Bowie Town Center has, like most retail outside of the Beltway, been affected by the downturn in retail, Neuman tells GlobeSt.com. “Urban retail — meaning the inner core of DC — hasn’t been affected too much in terms of cap rates but for everything outside we’ve seen a lowering of pricing and fewer buyers.” The junior boxes, which average about 15,000 square feet to 30,000 square feet have been most affected, he added.

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.