(For more retail coverage, click GlobeSt.com/RETAIL.)

CATONSVILLE, MD-National Wholesale Liquidators has signed a 10-year lease to occupy 56,309 sf at Catonsville Plaza here. The retailer approached Forman Mills, another tenant in the 277,666-sf center, to see if it would be willing to share space, Geoff Mackler, a broker with H&R Retail, tells GlobeSt.com. This approach is an unusual tactic but understandable given the low vacancy rates for retail space in this submarket, he says.

“It’s a tight market right now and difficult to find space of that size,” he says. Mackler estimates vacancy rates to be under 5%. Rents for space in this market can range from $8 per sf to $18 per sf, depending on how close the facility is to I-695 and the building’s quality, he adds.

The shopping center is located at the intersection of Baltimore National Pike and Old Fredrick Road in Catonsville, a suburb of Baltimore.

Larry Hoffman and Scott Yurow with H&R Retail represented National Wholesale Liquidators in the transaction. The center’s owner, Catonsville Plaza LLC, represented itself.

The new National Wholesale Liquidators store is slated to open in March of 2007. Other tenants include Shoppers Food Warehouse and Citi Trends.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.