BALTIMORE, MD., March 13, 2015 – Alex Cooper Auctioneers, Inc. a leading real estate auction house and brokerage firm in the mid-Atlantic region, announced the sale of “Brooklyn Park Plaza,” a 55,115± SF retail shopping center located on Ritchie Highway in Anne Arundel County, for $6,850,000. The anchor tenants include Save-A-Lot, McDonalds, Advanced Auto and Family Dollar.
Bradd Caplan, an associate for Alex Cooper Auctioneers, Inc. represented the buyer. “Owned and operated by the same partnership for decades, Brooklyn Park Plaza never officially made it to the open market,” says Caplan. “Back in June of ’14, we facilitated the sale of 36 multi-family units located in Bolton Hill for a client of ours. We then assisted our client in identifying a like-kind property and ultimately orchestrated a 1031 exchange on Brooklyn Park Plaza.”
“Brooklyn Park Plaza is a neighborhood retail shopping center that provides excellent roadside visibility,” adds Caplan. “The long term tenancy, low vacancy rate and significant annual income was very intriguing to our client.”