{"id":1004095829,"date":"2014-05-02T06:32:46","date_gmt":"2014-05-02T14:32:46","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=257244"},"modified":"2020-04-29T08:39:56","modified_gmt":"2020-04-29T16:39:56","slug":"atlantic-realty-buys-baltimores-alameda-marketplace-for-11-3m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/atlantic-realty-buys-baltimores-alameda-marketplace-for-11-3m\/","title":{"rendered":"Atlantic Realty Buys Baltimore\u2019s Alameda Marketplace for $11.3M"},"content":{"rendered":"

By Adrian Maties, Associate Editor<\/em><\/p>\n

A Baltimore City urban shopping center recently changed hands. The Alameda Marketplace was acquired by Atlantic Realty Companies for $11,305,000. Continental Realty Corporation was the seller.<\/p>\n

The Alameda Marketplace is located on 10.9 acres of land, at 5600 – 5658 The Alameda, not far from Good Samaritan Hospital. At the time of the sale, the property was 95\u00a0 percent occupied. Its tenant roster includes Stop Shop Save, Rite-Aid, Family Dollar, Goodwill, Bank of America, Rainbow and Rent-A-Center.<\/p>\n

Greysteel Co. represented the seller and also procured the buyer. Including the Alameda Marketplace, the real estate company arranged the sale of four significant shopping centers in the Baltimore Metro Area in the last nine months. Managing Director Gil Neuman led Greysteel\u2019s retail team.<\/p>\n

\u201cThe buyers acquired a center whose dense urban infill location and limited competition has maintained a high occupancy level for decades,\u201d Gil Neuman said in a press statement. \u201cWe identified Atlantic Realty Companies as experienced players most likely to unlock added value including capitalizing on an adjacent large swath of still undeveloped land,\u201d he added.<\/p>\n

\"\"<\/a>According to Greysteel, the Alameda Marketplace is located in the center of a dense northeast Baltimore City residential neighborhood, with an average population of 8,600 people per square mile and 230,000 residents within a three mile radius. Good Samaritan Hospital, Morgan State University, and Johns Hopkins University\u2019s main Homewood Campus are also located nearby.<\/p>\n

In a market outlook report for 2014, Marcus & Millichap also said that retail operations in the Baltimore area have steadily improved over the past three years and will strengthen in 2014, thanks to job growth and an increasing demand for space. Vacancy is expected to drop to 4.1 percent this year, while average rents will go up 3 percent to $19.75 per square foot.<\/p>\n

Chart courtesy of <\/em>Marcus&Millichap<\/em><\/a>. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A Baltimore City urban shopping center has recently changed hands. The Alameda Marketplace was acquired recently by Atlantic Realty Companies, for $11,305,000. Continental Realty Corporation was the seller.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1579,21742],"tags":[39414,1815],"class_list":["post-1004095829","post","type-post","status-publish","format-standard","hentry","category-baltimore","category-latest","tag-baltimore","tag-national"],"acf":[],"yoast_head":"\nAtlantic Realty Buys Baltimore\u2019s Alameda Marketplace for $11.3M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/atlantic-realty-buys-baltimores-alameda-marketplace-for-11-3m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Atlantic Realty Buys Baltimore\u2019s Alameda Marketplace for $11.3M\" \/>\n<meta property=\"og:description\" content=\"A Baltimore City urban shopping center has recently changed hands. 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