BALTIMORE, MD-New York City-based Katz Properties has acquired the 69,000-square foot Giant-anchored shopping center, Milford Mill, for $7.45 million.
The shopping center, located at the intersection of Liberty Road and Milford Mill Rd., is currently 96% occupied. The Giant anchor is anchored by a 58,000 square feet.
This purchase is the second acquisition in Baltimore County for Katz Properties in the past year. In June of 2013 it purchased Golden Ring Plaza in Rosedale. The company's Mid-Atlantic retail portfolio stretches from eastern Pennsylvania to Richmond, VA. However, it hopes to step up its presence even further in the Washington, DC/Baltimore region, says principal Daniel Katz. "The strong fundamentals of these markets make them an obvious target for us.”
Mortgage financing for Giant at Milford Mill was arranged by Tim Breda of Goedecke & Co. KLNB represented the seller in the transaction.
Leasing and property management services will be provided by Winslow Property Management, an affiliate of Katz Properties.
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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.
