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Key Takeaways
- CRC sold a shopping center in Maryland for $36.3 million.
- The property was acquired by Finmarc Management Inc.
- Shopping center spans 160,000 square feet.
- Located in Landover Hills, anchored by a Shoppers Food Warehouse.
- CRC was represented by brokerage firm H&R Retail in this transaction.
In a multimillion-dollar transaction, CRC has divested one of its significant assets. This shopping center, situated in Maryland, fetched a hefty $36.3 million. The new owner, Finmarc Management Inc., is known for its strategic investments in commercial properties.
The shopping center itself covers an impressive 160,000 square feet. Positioned in Landover Hills, it’s anchored by a Shoppers Food Warehouse, which serves as the primary draw for shoppers in the area.
CRC’s divestment was facilitated by H&R Retail. This brokerage firm played a pivotal role, representing CRC throughout the entire sales process. The deal is indicative of the current strength and attractiveness of commercial real estate in Maryland.
The substantial sale price highlights the value placed on well-located and anchored shopping centers. Finmarc Management Inc.’s acquisition adds another robust asset to their diversified portfolio.
Read the full story by: shoppingcenterbusiness.com and here.
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