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Time Equities Invests $23M in Strategy to Acquire “Essential” Grocery-Anchored Plazas in MD, Elsewhere

 

By: Lisa McDuffie

Time Equities, Inc., has acquired Harundale Plaza in Glen Burnie (near Silver Spring), MD, for $16.4 million. The 217,619 square-foot grocery-anchored hopping center is located on Ritchie highway and anchored by Lidl Grocery.

 

Time Equities, Inc., also recently purchased Triangle Mart, a 53,358-square-foot, 100% tenant occupied plaza in Jackson, MS, for $2.5 million and Ridgewood Plaza, a 36,307-square-foot center in Munster, IN, for $4.5 million.

 

“Our continued expansion into grocery-anchored shopping centers highlights the trends we saw over the past year, in which grocery stores and other essential retail locations were profitable through the most uncertain times,” said Ami Ziff, director of national retail at Time Equities, Inc.

 

In Maryland’s Harundale Plaza transaction, Ryan Sciullo, R. William Kent, Matt Karempelis and Chris Decoufle of CBRE represented the sellers, SITE Centers and Limited Partners, while Ami Ziff, Jonathan Kim and Grant Scott represented Time Equities, Inc.

 

Original Post: Time Equities Invests $23M in Strategy to Acquire “Essential” Grocery-Anchored Plazas in MD, Elsewhere – ConnectCRE