Continental Realty Corporation (CRC), a Baltimore-based real estate investment and management company, has completed the sale of Merritt Manor Shopping Center, an 88,332-square-foot fitness-anchored retail center in Dundalk for $11.9 million to Abrams Development Group, a Columbia-based commercial real estate company.
Located at 1119-1211 Merritt Blvd., the asset was 96% leased and occupied at the time of the sales transaction. Dean Zang, executive managing director for investments, and David Crotts, vice president for investments of Marcus & Millichap’s Washington office handled marketing and sales activities and represented Continental in this transaction.
Anchored by Gold’s Gym, the tenant roster features a mix of national and local retailers, including Sherwin-Williams, Dollar General, Hair Cuttery, GNC, Chicken Rico and Leslie’s Swimming Pool Supplies. The center is located at the signalized intersection of Merritt Boulevard and German Hill Road, and nearly 42,000 vehicles pass the site daily.
CRC acquired the property in 2013, which was 83% leased, for $8.6 million. Continental executed on a comprehensive renovation of the center’s exterior facade, enhanced all landscaping elements, and upgraded the center’s signage following the acquisition. This capital repositioning strengthened leasing demand for the center. In addition to improving the tenancy and renewing the successful tenants in place at the time of acquisition, CRC also subdivided a roadside pad site and successfully sold the pad into the triple net market in 2021.