BALTIMORE, MD-Towson Commons, a 401,775-squarefoot mixed-use project has traded here for an undisclosed price.Garrison Investment Group snapped up the propertyat a cap rate somewhere in the mid-6s, Cassidy Turley'sJames S. Wellschlager tells GlobeSt.com.

Wellschlager and colleague Jonathan M.Carpenter represented the seller, Towson CommonsHH LLC/Capmark REO Holdings LLC in the transaction.

The local community will be happy to see some movement with thisproperty, which has been sitting at 70% occupancy in the heart ofdowntown Towson for some years, Wellschlager says. "The propertywas originally purchased in '05-'06 as a potential redevelopmentplay and it ended up going back to Capmark."

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.