New Town Village Center for sale

Adam Bednar//February 16, 2015//

The New Town Village Center, 117,593-square-foot shopping center in Owings Mills, is for sale, and Bethesda-based Greysteel Co.’s Mid-Atlantic retail team has been named the agent and adviser to the owner, Black Oak Associates LLC.

The shopping center, located on Groffs Mill Drive, is currently 98 percent leased and anchored by a Giant Food supermarket. Tenants in the center also include Starbucks, Hair Cuttery and Ledo Pizza.

“Since acquiring the property, ownership renewed 28 percent of the tenants, leased pre-existing vacancy, installed energy efficient lighting, upgraded the parking field and successfully lobbied Giant Food to add self-check-out kiosks to accommodate high volume” Greysteel Managing Director Gil Neuman said in a news release. “This is an attractive, long-term stabilized offering with built-in growth serving a dense and affluent captive consumer pool.”

Tags: maryland, owings mills, Greysteel, sale

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