Continental Realty Corp. sells Merritt Manor Shopping Center for $11.9M | Maryland Daily Record

Continental Realty Company (CRC), a Baltimore-based actual property funding and administration firm, has accomplished the sale of Merritt Manor Purchasing Heart, an 88,332-square-foot fitness-anchored retail heart in Dundalk for $11.9 million to Abrams Growth Group, a Columbia-based industrial actual property firm.

Situated at 1119-1211 Merritt Blvd., the asset was 96% leased and occupied on the time of the gross sales transaction. Dean Zang, government managing director for investments, and David Crotts, vp for investments of Marcus & Millichap’s Washington workplace dealt with advertising and gross sales actions and represented Continental on this transaction.

Anchored by Gold’s Fitness center, the tenant roster options a mixture of nationwide and native retailers, together with Sherwin-Williams, Greenback Basic, Hair Cuttery, GNC, Rooster Rico and Leslie’s Swimming Pool Provides. The middle is situated on the signalized intersection of Merritt Boulevard and German Hill Street, and almost 42,000 autos go the location each day.

CRC acquired the property in 2013, which was 83% leased, for $8.6 million. Continental executed on a complete renovation of the middle’s exterior facade, enhanced all landscaping parts, and upgraded the middle’s signage following the acquisition. This capital repositioning strengthened leasing demand for the middle. Along with enhancing the tenancy and renewing the profitable tenants in place on the time of acquisition, CRC additionally subdivided a roadside pad website and efficiently bought the pad into the triple web market in 2021.