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.