Family Trust Buys The Shoppes at Bowie Town Center

The Shoppes at Bowie Town Center

BOWIE, MD–J.A.R. New York RLT, a private family trust based in New York, has acquired The Shoppes at Bowie Town Center for $21 million. Neuman Commercial Group, led by Principal Gil Neuman represented the seller, a private Maryland developer, and procured the buyer.

The Shoppes at Bowie Town Center has, like most retail outside of the Beltway, been affected by the downturn in retail, Neuman tells GlobeSt.com. “Urban retail — meaning the inner core of DC — hasn’t been affected too much in terms of cap rates but for everything outside we’ve seen a lowering of pricing and fewer buyers.” The junior boxes, which average about 15,000 square feet to 30,000 square feet have been most affected, he added.