TD&A Announces Sale of North Point Mall
BALTIMORE – Trout Daniel & Associates, a full-service commercial real estate firm, announces the sale of North Point Mall, located on North Point Blvd in Baltimore County.
Situated near Dundalk and sandwiched between Interstates 95 and 695, this 120,000 SF shopping center is anchored by Kmart and a strip of retail stores.
The property was sold to America’s Realty for $3.35 million. Trout Daniel & Associates’ Steven L. Cornblatt, Principal, and Gilbert R. Trout, Director of Investment Real Estate, represented the seller and procured the buyer in the transaction.
Cornblatt states, “the sale of this property is representative of the increasing investment value of the east side of Baltimore County. There are still opportunities in this area, but we feel this community is on the radar of many savvy investors and developers. The desirability of this area reflects the strength of redevelopment projects on Baltimore County and City’s east side, including the exciting Tradepoint Atlantic redevelopment of Sparrows Point.”
Trout states, “this deal is a perfect example of the power of TD&A’s commercial real estate arsenal: When this property hit the market, there was a 10,000 SF vacancy. However, during the course of working with this buyer, Jared Engel, an Associate with the firm, assisted the buyer in bringing in Family Dollar to sign a long-term lease. Additionally, through our relationships with Washington, DC investors, we introduced the buyer to an additional source of investment capital. These components added a solid foundation and financial logic which helped secure the deal, and went above and beyond the services offered by most investment sales brokerage firms.”
For information, contact Steven L. Cornblatt at 443-921-9331 or Gilbert R. Trout at 443-921-9332.