BALTIMORE-The Port Covington Shopping Center anchored by a Walmart store here has been sold for $35 million.
Finmarc Management Inc. says it sold the shopping center and some vacant adjacent land to 2701 Port Covington Drive LLC. The shopping center, which is located on 58 acres along the South Baltimore waterfront, also includes a vacant Sam's Club location. In fact, Walmart is the only operating tenant at the shopping center, according to the Baltimore Business Journal.
Finmarc purchased the Walmart parcel in 2005 from Starwood Ceruzzi for $19.2 million. However, the project failed to attract the necessary tenancies to make it a success. See story in the Baltimore Business Journal.
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