24,000-SQUARE-FOOT RETAIL CENTER SELLS FOR $3.5 MILLION IN MARYLAND

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COLUMBIA, MD. — Columbia Gateway Plaza LLC has acquired The Shoppes at Gateway Plaza, a 24,000-square-foot retail center situated within the 630-acre Columbia Gateway Business Community at 7185 Columbia Gateway Dr. in Columbia. Sanford Gateway LLC, an affiliate of Stanford Properties, sold the center for $3.5 million or $148 per square foot. The center is currently 87 percent leased to a mixture of restaurants and business service amenities, including The Columbia Bank. Rick Porter of Goldstone Realty represented the buyer; Gil Neuman of KLNB Retail Investment Sales represented the seller in the transaction.

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