DUNKIRK, MD–Lehrco Corp., a locally-based retail development and management company, has acquired Dunkirk Gateway, a 133,269-square-foot, grocery-anchored shopping center.  The seller, represented by HFF, was a commingled fund managed by Clarion Partners.

The purchase price has not been disclosed, however public records show that when Clarion Partners acquired the retail center in 2006 it paid $40.3 million, or $302 per square foot.

Lehrco Corp., is owned by native Washingtonian Sam Lehrman, grandson of one of the Giant Food founders. Lehrco's portfolio represents one of the largest retail portfolios owned by an individual in the Washington, DC area, according to HFF, totaling more than one-million-square feet.

Lehrman's market strategy is to acquire select grocery-anchored shopping centers and to hold them for the long term, while allocating significant capital to maintain and enhanced them.

Dunkirk Gateway is situated 18 acres at 10790 Town Center Boulevard in Calvert County. Anchored by Giant, it is 98% leased to such tenants as Sherwin Williams, Olympia Sports, Ledo Pizza, Capital One Bank, Verizon Wireless, AutoZone, Bank of America and Starbucks.  The property is shadow anchored by Wal-Mart.

 HFF's John Owendoff and Jordan Lex represented the seller.

DUNKIRK, MD–Lehrco Corp., a locally-based retail development and management company, has acquired Dunkirk Gateway, a 133,269-square-foot, grocery-anchored shopping center.  The seller, represented by HFF, was a commingled fund managed by Clarion Partners.

The purchase price has not been disclosed, however public records show that when Clarion Partners acquired the retail center in 2006 it paid $40.3 million, or $302 per square foot.

Lehrco Corp., is owned by native Washingtonian Sam Lehrman, grandson of one of the Giant Food founders. Lehrco's portfolio represents one of the largest retail portfolios owned by an individual in the Washington, DC area, according to HFF, totaling more than one-million-square feet.

Lehrman's market strategy is to acquire select grocery-anchored shopping centers and to hold them for the long term, while allocating significant capital to maintain and enhanced them.

Dunkirk Gateway is situated 18 acres at 10790 Town Center Boulevard in Calvert County. Anchored by Giant, it is 98% leased to such tenants as Sherwin Williams, Olympia Sports, Ledo Pizza, Capital One Bank, Verizon Wireless, AutoZone, Bank of America and Starbucks.  The property is shadow anchored by Wal-Mart.

 HFF's John Owendoff and Jordan Lex represented the seller.