S hopping C enters

www.marejournal.com Mid Atlantic Real Estate Journal — Shopping Centers — 7A Marcus & Millichap, D.C. sells $938,000 asset, a 44,867 s/f retail property in Waldorf, MD Marcus & Millichap, NJ arranges $2.125 million sale of Woodland Park Plaza in New Jersey


ALDORF, MD , — Marcus & Millic- hap Real Estate

Investment Services , the nation’s largest real estate investment services firm, has announced the sale of Waldorf BP Retail Corner, a 44,867 s/f retail property located in Waldorf, MD, according to Bryn Merrey , regional man- ager of the firm’s Washington, D.C. office. The asset sold for $938,000. NathanPealer , investment specialist in Marcus & Millic- HI-LIGHTS Oct. 25 - Nov. 7, 2013

Woodland Park Plaza

Waldorf Retail Corner

hap’s Washington, D.C. office, had the listing to market the property on behalf of the seller, a limited liability company. The buyer, an individual/personal trust, was secured and repre- sented by Pealer. The Waldorf BP Retail Cor- ner is located at 2050 Crain Highway. The operational gas station and C-Store is locat- ed prominently in Waldorf, Charles County. Property con- sists of 1,872 s/f of building and is located on a 44,867 s/f lot. This station enjoys excel- lent access and visibility with a corner lot at a signalized intersection along the main

retail corridor of 301, also known as Crain Highway. At the time of sale, the property was operating as British Petro- leum (BP) gas station with 12 pumps (6 MPDs) and C-Store operations. The property was delivered vacant and free of encumbrances; allowing an operator of gas stations to take over operations seamlessly, branded or unbranded. WOODLAND PARK, NJ , — Marcus & Millichap Real Estate Investment Services, has announced the sale of a 7,872 s/f retail property located inWoodland Park, NJ, accord- ing to Ryan Nee , regional

manager of the firm’s New Jersey office. The asset sold for $2.125 million. Julienne Pape , an invest- ment specialist in Marcus & Millichap’s New Jersey office, had the listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Michael Lombardi , a senior associate in Marcus & Millichap’s New Jersey office. Woodland Park Plaza is a recently built 7,872 s/f retail center located in Woodland Park, midway between Route 46 and Interstate 80. This pris-

tine four-tenant strip center is 100% occupied with two na- tional tenants, U. S. Army and Subway and two local ones that include an insurance company and a nail salon. All tenants have occupied the space since the center was built in 2006. Woodland Park Plaza offered the investor the opportunity to acquire a well-positioned retail asset with substantial stabil- ity through NNN leases and established tenants. The marketing process pro- duced multiple offers above the listing price resulting in a closing price $100,000 over asking price. n


Retail Acquisition, Brokerage Services & Available Retail


13,640 s/f Petco opens at Levin- managed Hamilton Plaza

Metro Commercial completes +/-34,097 s/f lease for Ashley Furniture in Toms River, New Jersey

TOMS RIVER, NJ — As part of its leasing of Seacourt

P a v i l i o n , Metro Com- mercial an- n o u n c e d that it has brokered a n ew l e a s e transaction with Ashley Furniture. A s h l e y

8A WP Realty announces grand opening in 625,000 s/f plaza

Pete Nicholson

Furniture has leased +/-34,097 s/f at the 248,000 s/f Seacourt Pavilion. Metro Commercial’s Pete Nicholson represented the landlord, SP Acquisition As- sociates, LLC in the lease transaction, while Ashley Furniture was represented by


Seacourt Pavilion

www.marejournal.com ALSO INSIDE: People on the Move.....10A

Julius M. Feinblum Real Estate, Inc. “We’re striving to provide the most comprehensive level of service available in the

region,” said Nicholson. “Ash- ley Furniture will be a fine complement to the center where they are leasing all of the space between LA Fitness

and Loews Theaters.” This is the third anchor Met- ro Commercial has brought to the center bringing the occu- pancy to 96%. n

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