{"id":1004120045,"date":"2015-05-25T19:38:12","date_gmt":"2015-05-26T03:38:12","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=346180"},"modified":"2020-05-19T02:42:54","modified_gmt":"2020-05-19T10:42:54","slug":"inland-buys-owings-mills-new-town-village-center-for-31-7m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/inland-buys-owings-mills-new-town-village-center-for-31-7m\/","title":{"rendered":"Inland Buys Owings Mills\u2019 New Town Village Center for $31.7M"},"content":{"rendered":"

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

\"\"<\/a>An Illinois-based investor has purchased the New Town Village Center in Owings Mills. The property changed hands just months after it was placed on the market.<\/p>\n

Inland Real Estate Group, Inc. is the shopping center\u2019s new owner. It paid $31.68 million, or $269 per square foot, to buy the property from Black Oak Associates, LLC. The former owner purchased New Town Village in 2012, for $22.5 million. At that time, the shopping center was only 94 percent leased. Black Oak upgraded the property and managed to reduce vacancy. It also renewed the leases of 28 percent of the current tenants.<\/p>\n

In February, Black Oak hired<\/em><\/a> the Greysteel Company\u2019s Mid-Atlantic retail investment sales team to sell New Town Village. The team was led by Gil Neuman, the company\u2019s managing director. In a news release, Neuman said that the shopping center \u201ddrew interest from across the country.\u201d<\/p>\n

New Town Village was constructed in 1996, at 9700-9780 Groffs Mill Drive. It is a 117,593-square-foot community shopping center, anchored by a Giant Food. According to Greysteel, the property was 98% leased at the time of the sale, to twenty tenants. These include Starbucks, Hair Cuttery, M&T Bank, Merritt Athletic and Ledo Pizza.<\/p>\n

Photo credit: <\/em>Black Oak Associates<\/em><\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

An Illinois-based investor has purchased the New Town Village Center in Owings Mills. The property changed hands just months after it was placed on the market.<\/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":[],"class_list":["post-1004120045","post","type-post","status-publish","format-standard","hentry","category-baltimore","category-latest"],"acf":[],"yoast_head":"\nInland Buys Owings Mills\u2019 New Town Village Center for $31.7M - 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\/inland-buys-owings-mills-new-town-village-center-for-31-7m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inland Buys Owings Mills\u2019 New Town Village Center for $31.7M\" \/>\n<meta property=\"og:description\" content=\"An Illinois-based investor has purchased the New Town Village Center in Owings Mills. The property changed hands just months after it was placed on the market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/inland-buys-owings-mills-new-town-village-center-for-31-7m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-05-26T03:38:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-19T10:42:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/New-Town-Village-Center-300x129.gif\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-buys-owings-mills-new-town-village-center-for-31-7m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-buys-owings-mills-new-town-village-center-for-31-7m\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"Inland Buys Owings Mills\u2019 New Town Village Center for $31.7M\",\"datePublished\":\"2015-05-26T03:38:12+00:00\",\"dateModified\":\"2020-05-19T10:42:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-buys-owings-mills-new-town-village-center-for-31-7m\\\/\"},\"wordCount\":215,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-buys-owings-mills-new-town-village-center-for-31-7m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/05\\\/New-Town-Village-Center-300x129.gif\",\"articleSection\":[\"Baltimore\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-buys-owings-mills-new-town-village-center-for-31-7m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-buys-owings-mills-new-town-village-center-for-31-7m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-buys-owings-mills-new-town-village-center-for-31-7m\\\/\",\"name\":\"Inland Buys Owings Mills\u2019 New Town Village Center for $31.7M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-buys-owings-mills-new-town-village-center-for-31-7m\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-buys-owings-mills-new-town-village-center-for-31-7m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/05\\\/New-Town-Village-Center-300x129.gif\",\"datePublished\":\"2015-05-26T03:38:12+00:00\",\"dateModified\":\"2020-05-19T10:42:54+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-buys-owings-mills-new-town-village-center-for-31-7m\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-buys-owings-mills-new-town-village-center-for-31-7m\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-buys-owings-mills-new-town-village-center-for-31-7m\\\/#primaryimage\",\"url\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/05\\\/New-Town-Village-Center-300x129.gif\",\"contentUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/05\\\/New-Town-Village-Center-300x129.gif\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-buys-owings-mills-new-town-village-center-for-31-7m\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Inland Buys Owings Mills\u2019 New Town Village Center for $31.7M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\",\"name\":\"Adrian Maties\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g\",\"caption\":\"Adrian Maties\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/adrianmaties\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Inland Buys Owings Mills\u2019 New Town Village Center for $31.7M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/inland-buys-owings-mills-new-town-village-center-for-31-7m\/","og_locale":"en_US","og_type":"article","og_title":"Inland Buys Owings Mills\u2019 New Town Village Center for $31.7M","og_description":"An Illinois-based investor has purchased the New Town Village Center in Owings Mills. The property changed hands just months after it was placed on the market.","og_url":"https:\/\/www.commercialsearch.com\/news\/inland-buys-owings-mills-new-town-village-center-for-31-7m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2015-05-26T03:38:12+00:00","article_modified_time":"2020-05-19T10:42:54+00:00","og_image":[{"url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/New-Town-Village-Center-300x129.gif","type":"","width":"","height":""}],"author":"Adrian Maties","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/inland-buys-owings-mills-new-town-village-center-for-31-7m\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/inland-buys-owings-mills-new-town-village-center-for-31-7m\/"},"author":{"name":"Adrian Maties","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6dfc8d1c9006c9fd1c89d69133130109"},"headline":"Inland Buys Owings Mills\u2019 New Town Village Center for $31.7M","datePublished":"2015-05-26T03:38:12+00:00","dateModified":"2020-05-19T10:42:54+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/inland-buys-owings-mills-new-town-village-center-for-31-7m\/"},"wordCount":215,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/inland-buys-owings-mills-new-town-village-center-for-31-7m\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/New-Town-Village-Center-300x129.gif","articleSection":["Baltimore","News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/inland-buys-owings-mills-new-town-village-center-for-31-7m\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/inland-buys-owings-mills-new-town-village-center-for-31-7m\/","url":"https:\/\/www.commercialsearch.com\/news\/inland-buys-owings-mills-new-town-village-center-for-31-7m\/","name":"Inland Buys Owings Mills\u2019 New Town Village Center for $31.7M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/inland-buys-owings-mills-new-town-village-center-for-31-7m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/inland-buys-owings-mills-new-town-village-center-for-31-7m\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/New-Town-Village-Center-300x129.gif","datePublished":"2015-05-26T03:38:12+00:00","dateModified":"2020-05-19T10:42:54+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6dfc8d1c9006c9fd1c89d69133130109"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/inland-buys-owings-mills-new-town-village-center-for-31-7m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/inland-buys-owings-mills-new-town-village-center-for-31-7m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/inland-buys-owings-mills-new-town-village-center-for-31-7m\/#primaryimage","url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/New-Town-Village-Center-300x129.gif","contentUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/New-Town-Village-Center-300x129.gif"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/inland-buys-owings-mills-new-town-village-center-for-31-7m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Inland Buys Owings Mills\u2019 New Town Village Center for $31.7M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6dfc8d1c9006c9fd1c89d69133130109","name":"Adrian Maties","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g","caption":"Adrian Maties"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/adrianmaties\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004120045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/925"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004120045"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004120045\/revisions"}],"predecessor-version":[{"id":1004448466,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004120045\/revisions\/1004448466"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004120045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004120045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004120045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}