Continental Realty Corp Sells Governors Commons Shopping Center In Glen Burnie For $9.6M
Governor Ritchie Highway
$9,600,000
$74/SF
Building Size
129,242 SF
Asset Type
Retail
Closing
Jan 24, 2025
AI
Continental Realty Corp. sold a shopping center located at 7311 Governor Ritchie Hwy, Glen Burnie, MD. The property spans 129,242 square feet and was sold for $9.6 million, translating to a price per square foot of $74.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,600,000
- Sale Date: 01/24/2025
- Seller: Continental Realty Corp
- Broker Representatives: David Crotts & Dean Zang - Institutional Property Advisors
The deal involved the representation of the seller, Continental Realty Corp, by brokers David Crotts and Dean Zang from Institutional Property Advisors, ensuring the transaction was facilitated by experienced professionals in the retail real estate market.
Players
Severna Park Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.65%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93