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TOWSON, MD-Shelbourne Properties I Inc., a Boston-based REIT, has surrendered its ownership of the 150,000-sf Loch Raven Plaza in exchange for a sum of approximately $10 million. The buyer has not yet been named in public records. The disposition of the property is part of Shelbourne’s liquidation plan, and leaves the company with partial interests in one other office structure and various hotels to sell.

Bound by Taylor Avenue and Goucher and Loch Raven boulevards, the shopping center recently underwent a revitalization project. JoAnn Farbrics and Greetings & Readings serve as anchors for the property, which is also home to such tenants as Firestone Tire Center and IHOP. KLNB Retail had handled the Loch Raven leasing assignment for the last decade. KLNB’s Keith T. Barnett tells GlobeSt.com that the new owner has its own in-house leasing team. Shopping center space in the area, Barnett adds, ranges from $20 to $30 per sf at higher-end properties, to the low- to mid-teens at other centers.

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