PASADENA, MD—As value-add opportunities are getting more difficult to source one buyer is pushing hard at uncovering hidden gems off market. The result — last month it acquired Pasadena Crossroads, a 319,519-square foot retail center close to Baltimore’s Central Business District, for $31.6 milllion.

The property, located at 8070 Governor Ritchie Highway, has many attributes in its favor: it is fully leased and anchored by Shoppers Food Warehouse, Kmart and LA Fitness. The 28-acre property was originally developed in the 1970s and underwent a renovation in 2008.

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