Paul Collins and Jud Ryan of Cassidy & Pinkard Colliersrepresented the seller, Calvert Village LP. Located at 186 W. DaresBeach Rd. along the highly traveled Route 2/4, Calvert VillageMarketplace is anchored by a Safeway, a 55,301-sf structurecompleted in December 2003. A second anchor, the 13,500-sf ApexMovie Theatre, has the added benefit of being the only movie housein Calvert County.
Calvert Village Marketplace fits the Columbia, SC-basedcompany's core investment MO, which is to acquire grocery-anchoredshopping centers in close-in metro areas. Earlier this year, thecompany acquired an 84,502-sf shopping center in Arlington, VA,for $22million as reported in GlobeSt.com. Typically its strategyis to re-tenant or reposition. Increasingly, however, the companyhas been considering new redevelopment options outside of themodel, including mixed-useprojects. Edens & Avant was unavailable to be reachedfor comment on its latest acquisition.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
