The vacancy rate across the portfolio is negligible, which is not surprising given that most of the retail centers are the dominant properties in their respective trade area, Wilner says. "All together we will be leasing out approximately 30,000 sf." The asking rental rates for these properties will range from $25 per sf to $45 per sf.
KLNB is in the process of evaluating each center on a case-by-case basis, he explains. "We are evaluating the vacancies and putting together a target tenant list for each space. We are looking at opportunities to not only bring in new tenants but move players around in order to create even more value in the portfolio."
The projects include the Boulevard at the Capital Centre, a 480,000-sf shopping venue in Largo, MD that was the former site of the Capital Centre sports complex; Centre at Laurel, a 140,000-sf project also in Laurel, MD; Chantilly Crossing, a 77,000-sf center in Chantilly, VA; a 275,000-sf shopping center in Annapolis, MD called Gateway Village; Reisterstown Road Plaza, a 804,000-sf retail project in Baltimore City that was formerly an enclosed mall; the Shoppes at Quarterfield, a 62,000-sf center in Severn, MD; the 400,000-sf Tollgate Plaza in Bel Air, MD; and Towson Circle, a 110,000-sf center in the heart of Towson, MD.
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