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OWINGS MILLS, MD-Locally-based Black Oak Associates has made its fifth CRE acquisition in the past 18 months: a 117,000-square-foot grocery anchored shopping center for $22.5 million. Located here, the Giant-anchored New Town Village is more than 94% leased to such tenants as Merritt Athletic Club, Starbucks and M&T Bank. Rockville Bank in South Windsor, CT, provided the financing. Black Oak has tapped Keith Barnett at KLNB Retail to manage leasing.

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