Owings Mills, Md. (February 23, 2016) — Greenberg Gibbons announced that it has purchased the Reisterstown Shopping Center, a 167,212-square-foot community shopping center in Reisterstown, Md.
Located on busy Reisterstown Road and accessible from nearby I-795, Reisterstown Shopping Center features Mars Supermarket, Planet Fitness, and a mix of national and regional stores and restaurants. Greenberg Gibbons plans to update and remerchandise the property and aims to bring new stores and restaurants to its retail lineup.
“Reisterstown Shopping Center gives us another opportunity to bring more high quality retailers to the bustling Reisterstown Road Corridor in addition to our Foundry Row project,” said Brian Gibbons, Chairman and CEO of Greenberg Gibbons. “We are excited to add the center to our growing portfolio of properties.”
Reisterstown Shopping Center was locally owned by a partnership including Chesapeake Realty Partners, which developed the project in 1960 and was managed by Fedder Management Corporation. The partnership developed the retail property as part of a 700 acre parcel that included 4,000 for-sale homes and 800 rental townhomes.
“We are pleased that a local, respected company is taking over this property, which has been in my family for 56 years,” said Lawrence Macks, Co-Chairman and CEO of Chesapeake Realty Partners. “We look forward to seeing Greenberg Gibbons build on that legacy of success.”