MacKenzie Commercial Real Estate Services recently facilitated the sale of Walnut Park Plaza, a 20,200 square-foot retail center in Finksburg, Maryland. The property is located at 2970 Dede Road and was sold to NF Dede, LLC.
The seller was represented by Senior Vice Presidents Dennis Boyle and Chris Walsh, as well as Real Estate Advisor Graham Sevy from MacKenzie. The previous owner was Mudgett Family LLC.
This single-story retail center is situated along MD Route 140 and had a leasing rate of 65% at the time of sale. Some notable tenants include Magass Family Medicine and Urgent Care, Ronnie Ruffner State Farm Insurance Agency, JJ Gloss appliance repair company,and Taqueria el Guacamole Mexican restaurant.
In addition to the main shopping center building on one acre of land,the sale also includes a one-third-acre storage padand an adjacent2.5-acre parcel that could potentially be developed in the future.“The property has great potential for long-term value growth with approximately7 ,500 square feetof available retail space,” said Boyle about this attractive asset.
Connect CRE reported that MacKenzie Commercial recently closed on the sale of Walnut Park Plaza near Baltimore.This popular shopping destination spans over20 ,000square feetin Finksburg,Marylandatthe address2970DedeRoad.ItwaspurchasedbyNF DedeLLCfromthesellerMudgettFamilyLLC.SeniorVicePresidentsDennisBoyleandChrisWalshaswellasRealEstateAdvisorGrahamSevyrepresentedthepreviousowner.MacKenziespecializesincommercialrealestateservicesandsuccessfullybrokeredthisdealfortheirclient.ThepropertyislocatedalongMDRoute140andcurrentlyhasaleasingrateof65%.SomeprominenttenantsincludeMagassFamilyMedicine,UrgentCare,RonnieRuffnerStateFarmInsuranceAgency,JJGlossappliance repair company,andTaqueriaelGuacamoleMexicanrestaurant.
In addition to the main shopping center building, which sits on a one-acre parcel of land, the sale also includes a one-third-acre storage pad and an adjacent 2.5-acre parcel that could potentially be developed in the future. According to Boyle, this property has great potential for long-term value growth with approximately 7,500 square feet of available retail space.
MacKenzie Commercial is known for their expertise in commercial real estate services and their ability to successfully broker deals like this one. With Walnut Park Plaza’s prime location along MD Route 140 and its diverse mix of tenants, it is sure to continue being a popular shopping destination near Baltimore.
