February 20, 2020
Carlyle Development Group has acquired Mount Clare Junction, a 234,036-square-foot grocery-anchored retail center in Baltimore. The sales price was reported as $20 million.
Located at 1223 W. Pratt St., the shopping center features a tenant roster that includes Price Rite, Family Dollar and Capital One, as well as the Baltimore Housing Authority and Maryland Department of Social Services. The center is currently 82% occupied.
Christopher Burnham, David Crotts and Dean Zang of IPA represented the seller, Fortress Investment Group, in the transaction. The property last traded for $8.7 million in 2017.
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