Quantcast
New Town Shopping Center  in Owings Mills sold for $31.68 million. (Courtesy Greysteel Co.)
New Town Shopping Center in Owings Mills sold for $31.68 million. (Courtesy Greysteel Co.)

Owings Mills shopping center sells for $31.68M

The New Town Village Center in Owings Mills has sold for $31.68 million.

Greysteel Co. announced on Thursday that Black Oak Associates LLC sold the Giant-Food-anchored 117,593-square-foot shopping center to Inland Real Estate Group Inc.

“This offering drew interest from across the country,” Greysteel Managing Director Gil Neuman said in a news release. “The institutional buyers, Inland, rewarded the sellers for their work having stabilized the asset with a rapid cash purchase.”

The shopping center, located at 9700-9780 Groffs Mill Drive, is currently 98 percent leased and features tenants such as Starbucks, Hair Cuttery, M&T Bank, Merritt Athletic and Ledo Pizza.

Sale of the property went relatively quickly, as it just went on the market in February.

 

About Adam Bednar

Adam Bednar covers real estate and development for The Daily Record.

One comment

  1. They have a Ledo Pizza in there? When did this happen?

Leave a Reply

Your email address will not be published. Required fields are marked *

*