Trout Daniel & Associates, a full-service commercial real estate firm, announces the sale of Arundel Village Plaza, a six-building, 54,061 square foot retail center on 6.80 acres on Route 2/Ritchie Hwy in the retail corridor of Brooklyn, Maryland.
Gilbert Trout of TD&A represented the seller and procured the buyer, Talroy Holdings, LLC with Rockpark Group. Gil Neuman of Neuman Commercial Group acted as advisor to the buyer. The property was sold on Apil 4th for $9,010,000.
Arundel Village Plaza is 100% occupied by 14 tenants, with a mix of medical tenants, retail services, two State of Maryland leases, and five pad sites including Valvoline, Taco Bell and local favorites America’s Best Wings and El Salto.
States Trout: “Centers like Arundel Village Plaza, with tenants that provide a diverse mix of uses that are in-line with the needs of their surrounding communities, will always command interest from investors.”
“We had tremendous interest in this center and received competing offers from over 30 vetted and well-capitalized buyers,” stated Trout.
Gary Hackerman, Principal at Rockpark Group, stated: “We are grateful to Gilbert Trout for his uniquely extra-diligent brokerage to facilitate our first retail commercial acquisition.” He added: “We intend to sharpen curb appeal and operations to further improve this well positioned center.”
Arundel Village Plaza’s signalized intersection off of I-695 near I-97 and I-895 sees an average 41,000 cars passing daily. Almost 80,000 residents live within a three-mile radius, and 208,000 within five miles. Catty corner across the street Woodfall Greens is a new 230-unit apartment complex, while nearby 218 new Ryan Homes townhomes are now selling in the upper $300,000’s.
Contact Gilbert Trout at 443-921-9332 or gtrout@troutdaniel.com for more information.
About Trout Daniel & Associates
Trout Daniel & Associates is a full-service commercial real estate brokerage serving businesses throughout the mid-Atlantic and beyond. The firm takes a highly-customizable approach to providing a full range of commercial real estate services, including brokerage, development, consulting and management to the retail, office, industrial, multi-family and investment market segments. For more information, call: 410-435-4004 or visit: www.troutdaniel.com.
