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
Reisterstown 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
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93