Cushman & Wakefield has arranged the disposition of Frederick Shopping Center, a grocery-anchored retail property in Frederick, Maryland, totaling 236,615 square feet. The shopping center traded for $55.5 million, according to Cushman & Wakefield, in a transaction that brings the asset under new ownership for the first time since it was originally developed in 1957.
The seller, Rosenfeld Realty Company, retained Cushman & Wakefield to market the property and represent it in the sale. A capital markets team led by John Owendoff, Paul Collins and Miles Tonkel advised Rosenfeld Realty Company through the transaction process. On the buy side, a joint venture between Willard Retail and Frankel Properties acquired Frederick Shopping Center, marking the first ownership change in the center’s long history.
Cushman & Wakefield also advised the purchaser on the acquisition financing. Michael Zelin and Marshall Scallan, with Cushman & Wakefield, represented the joint venture in securing debt for the purchase, providing capital markets support alongside the investment sales assignment. Specific loan terms and the lender were not disclosed.
Frederick Shopping Center is reported to be 99% leased at the time of sale. The property is anchored by a Giant Eagle grocery store, which serves as the primary driver of traffic for the center. Additional tenants include Ashley Furniture, Staples, Glory Days Grill, Bonefish Grill, Capital One and PNC, reflecting a tenant mix spanning soft goods, dining and financial services.
The center has shown consistent operating strength since its original development in 1957, according to Cushman & Wakefield. The combination of a grocery anchor, a diverse tenant roster and high occupancy has supported performance over multiple cycles. With this transaction, the long-held asset transitions from single-ownership control under Rosenfeld Realty Company to a new joint venture ownership structure between Willard Retail and Frankel Properties.
Commenting on the sale, Owendoff noted that the transaction underscores the enduring strength and appeal of grocery-anchored retail centers in high-growth markets such as Frederick. The sale of Frederick Shopping Center highlights ongoing investor interest in stabilized, grocery-anchored retail assets with established tenancy and occupancy.
