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February 20, 2020 Comments Off on Carlyle Development Snags Baltimore Shopping Center for $20M Views: 501 Baltimore, Top Washington, D.C., Washington, D.C. News

Carlyle Development Snags Baltimore Shopping Center for $20M

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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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