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SILVER SPRING, MD-A local partnership is putting a strip mall here for sale, with a call for offers expected to go out on Friday. Located close to the District’s border at 8601-53 Spring Center, off of 16th St. and East-West Highway, the 50,000-square-foot retail center is 98% occupied. The asking price, according to Kirk M. Knight, associate director at Marcus & Millichap’s National Retail/Office group, is $16.7 million. 

Few retail properties have traded, or been put on the market for that matter, making establishing a comp difficult. That is largely due to a buyer-seller disconnect on price expectations that Knight says is only now starting to realign. “All of the patient money that was waiting for assets to come to market during the downturn is losing its patience,” he tells GlobeSt.com. “The consensus is that we are at the bottom of the market, so buyers and sellers are feeling more secure in pulling the trigger.” 

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