Baltimore’s Church Square Shopping Center Changes Hands
- Mar 03, 2015
Baltimore’s Church Square Shopping Center is now under new ownership. The property’s former owner, a joint venture between The Hampshire Companies, of Morristown, N.J., and Baltimore-based MCB Real Estate, sold it to Kodiak Properties, LLC and Burley Church, LLC, for an undisclosed price. KLNB, LLC represented both the buyer and the seller in the transaction.
The shopping center is located on 2.4 acres, at 901 North Caroline St. It has 43,884 square feet of space and it was fully leased at the time of the sale. Tenants include Downtown Locker Room, Mack Lewis Gym, Simply Fashion, Hip Hop Fish & Chicken, Great Panda, Metro PCS and Paradise Nails. The Church Square Shopping Center is also anchored by a 19,386-square-foot Save-A-Lot food store.
According to a news release, both the buyer and the seller were looking to take advantage of the 88-acre East Baltimore Revitalization Initiative, which aims to transform East Baltimore into a more sustainable, mixed-use community over the next few years. So far, this initiative has delivered more than 150 residential units, located just one block from the Church Square Shopping Center. Plans also call for the construction of 2,200 new and rehabilitated green homes and apartments, and two million square feet of commercial space, including a Life Sciences and Biotechnology Research Park.
Photo credit: The Hampshire Companies