The Hampshire Companies Unloads Fully-Leased 319,519-Square-Foot Retail Center in Pasadena, MD to The Sterling Organization
Pasadena, MD. -- The Hampshire Companies, a full service, private real estate investment firm with equity in assets valued at more than $2.5 billion, announced today the sale of a 319,519-square-foot retail center known as the Pasadena Crossroads, located at 8070 Governor Ritchie Highway in Pasadena, Maryland, to The Sterling Organization. The fully-leased, highly visible retail center is anchored by Shoppers Food Warehouse, Kmart and LA Fitness.
The 28-acre property was renovated in 2008 and is in close proximity to I-97 as well as the Baltimore Central Business District and the Baltimore-Washington International Airport. The Pasadena Crossroads boasts prominent frontage on Ritchie Highway and Jumper’s Hole Road and is a community fixture in a market with strong overall demographics.
“The sale of Pasadena Crossroads was driven by extremely competitive market conditions and recent favorable sales,” said Igor Derbaremdiker, Transactions Manager at The Hampshire Companies. “Executing our proven investment strategy coupled with the center’s strong performance, diversified tenant mix, and macroeconomic conditions allowed us to identify an opportunity to maximize economic returns for our investors.”
American East Real Estate Company LLC, Howard Stotsky Real Estate Investments and KLNB Retail represented The Hampshire Companies in the transaction.
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