Reisterstown Shopping Center recently changed hands for $40.6 million to a pair of Washington, D.C. area companies.
Real estate investment firm Lehrman and commercial real estate management firm Rappaport Co. partnered to acquire the Class B center last month. State records list the buyer as Reisterstown SC Borrower LLC, an entity linked to McLean, Virginia-based Rappaport. The seller was an entity of Baltimore-based Greenberg Gibbons.
“We are thrilled to take on Reisterstown Shopping Center,” said Henry Fonvielle, president of Rappaport, in a statement Thursday. “The center is a strong neighborhood asset, and this engagement is an exciting addition to our roster of properties. It reflects the trust owners place in our ability to elevate community shopping centers through thoughtful leasing, active management and a strategic long-term vision.”
The center is anchored by a nearly 30,000-square-foot Lidl, a 32,851-square-foot Lowe’s Outlet and several other national chains like Chipotle, Chick-fil-A, Planet Fitness and Starbucks. The center at 11989 Reisterstown Road has about 6,000 square feet of space available for lease.
