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BALTIMORE, MD-Two newly inked single-tenant net lease deals in Maryland, both brokered by Marcus & Millichap Real Estate Investment Brokerage Company, indicate buyers and sellers here have adjusted to the new interest rate environment.

Regional manager Jeff Algatt tells GlobeSt.com that the single tenant net lease investment sector had slowed down about 90 days ago as interest rates began to climb. “Now we see it coming back to an active market again,” he says.

Pace-Ingleside LLC, based in Missouri, has sold SEC US Route 40 and Ingleside Ave. in Catonsville, Md., a 14,820 sf single-tenant retail building leased by Walgreens, for $8.5 million, or $573.55 per sf, to New York-based P&A Fortang, Inc. through an IRC 1031 Tax Deferred Exchange. Mark Taylor and Dean Zang of the Taylor-Zang Retail Investment Group, of Marcus & Millichap’s Philadelphia office, represented Pace-Ingleside. The Taylor-Zang Group also represented the buyer.

Hall Cambridge Investments, LLC, based in Maryland, has sold 701 Sunburst Highway in Cambridge, Md., a 10,908 sf single-tenant retail building leased by Eckerd to Delaware-based Cambridge Eck, LLC, which purchased the Rite Aid for $4.8 million, or $440.04 per sf. Taylor and Zang represented Hall Cambridge Investments in this deal as well. Matt Whiteside of Marcus & Millichap’s Milwaukee office represented Cambridge Eck.

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