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11989 Reisterstown Road

Gary Rappaport And Max Lehrman Acquire Reisterstown Shopping Center From Greenberg Gibbons For $40.62M
SOLDRetail

Gary Rappaport And Max Lehrman Acquire Reisterstown Shopping Center From Greenberg Gibbons For $40.62M

11989 Reisterstown Road

$40,623,000

$254/SF

Building Size

159,522 SF

Asset Type

Retail

Closing

Mar 12, 2026

AI

The property involved in this transaction is a retail asset located at 11989 Reisterstown Road in Reisterstown, Maryland. The property, known as Reisterstown Shopping Center, encompasses a total of 159,522 square feet and was acquired at a sale price of $40,623,000, translating to a price per square foot of $254.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $40,623,000
  • Buyer: Gary Rappaport & Max Lehrman
  • Seller: Greenberg Gibbons
  • Seller's Representative: Daniel Naughton & Jordan Lex - JLL
  • Buyer's Financing: Evan Parker - JLL
  • Annual Visits: ~3.2 million
  • Anchors: Lidl grocery store and Lowe’s Outlet
  • Other National Tenants: Planet Fitness, Starbucks, Chipotle, Dollar Tree, Walgreens, Jersey Mike’s, Bank of America, Mattress Warehouse, and Advance Auto Parts
  • Demographics: Strong demographics and limited new supply

The transaction included a joint venture partnership between Gary Rappaport and Max Lehrman, indicating a collaborative investment strategy for long-term, necessity-based retail opportunities. Jones Lang LaSalle played a dual role in this deal by representing the Seller and also arranging financing for the Buyer, highlighting their involvement in both aspects of the transaction.

Players

Jordan Lex

JLL

Broker

$647.2M

vol

11 deals

Broker
Rappaport
RappaportBuyer
Evan Parker

Evan Parker

JLL

Lender

$121.4M

vol

3 deals

Lender

Reisterstown Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.39%

Cash-on-Cash

-0.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93