KLNB, the mid-Atlantic region’s largest privately held CRE brokerage firm, announced Monday the sale of Church Square Shopping Center at 923 N. Caroline St. in Baltimore for $6.5 million.
KLNB exclusively represented the seller, a partnership between Burley Church LLC and Pinefield South-Kodiak LLC, in the transaction for the 44,252-square-foot, fully occupied, 13-unit property.
The KLNB Retail Investment Sales Team of Andy Stape, Chris Burnham, Vito Lupo and Jake Furnary orchestrated the transaction, marking the second time KLNB has sold Church Square, with the first transaction occurring in 2015.
At that time, the property was anchored by Save-A-Lot, which vacated the site in 2020. The seller then split the former grocery box to welcome two major junior anchor tenants: Dollar General Plus and Citi Trends, which took occupancy in 2022. Church Square is also home to many notable retailers including a brand-new Chase ATM with a drive-thru, DTLR, and Hip Hop Fish & Chicken, with a more than seven-year weighted lease average remaining for all occupants. Positioning the asset for sale, the seller completed renovations and improvements including roof work, parking lot repairs and extensive façade work.
Located along North Caroline Street and Ashland Avenue, Church Square was originally built in 1986 and serves as a prominent retail hub near the east Baltimore revitalization area, a 20-year, $1.6 billion mixed-use revitalization project funded by multiple government agencies, philanthropies and private business owners focusing on the redevelopment of 88 acres surrounding the Johns Hopkins east Baltimore campus.