In The News: Retail Asset Sold for $4.08 Million in Columbia

on June 5, 2018

Columbia, Maryland – Edge Commercial’s Capital Markets Group is pleased to announce the sale of Columbia Gateway Plaza located at 7185 Columbia Gateway Drive in Columbia, Maryland, for $4,080,000. The transaction was originated at Metropolis Capital Advisors by the investment sales team led by Joe Friedman, where he represented the Seller, Columbia Gateway Plaza, LLC and procured the Buyer, Remy Retail, LLC.

The 24,000 square foot neighborhood strip center is 84% leased to a complementary mix of local and regional service providers including Columbia Bank, Weight Watchers, a salon, dance studio and restaurants. Constructed in 1990, Columbia Gateway sits on 4-acres and features an abundant 5.95 per 1,000 parking ratio. The center is uniquely positioned within the 630-acre Columbia Gateway Business Park, home to over 15,000 employees and one of the largest suburban office parks in the Baltimore-Washington corridor. Additionally, Columbia Gateway Plaza benefits from Howard County’s nationally-ranked demographics featuring a $120,000 median household income and a densely populated local customer base with nearly 75,000 households within five miles of the center.

“The sale signifies the strong investor appetite for well-positioned neighborhood retail assets that provide convenient dining and services that are not easily replaced by Amazon” said Joe Friedman.

Edge Commercial is a locally owned commercial real estate advisory, management and investment company based in the Washington, DC Metropolitan area. The firm’s entrepreneurial approach and commitment to service has enabled Edge to deliver superior results to its clients and partners since its inception. Currently, Edge manages and leases more than 8.5 million square feet of commercial space in Maryland, Pennsylvania, Virginia, and the District of Columbia. For more information, visit www.edgecre.com.

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bhadminIn The News: Retail Asset Sold for $4.08 Million in Columbia