Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Dunkirk Gateway, a 133,269-square-foot, grocery-anchored shopping center in the Washington, D.C., bedroom community of Dunkirk, Maryland.
HFF marketed the property on behalf of the seller, a commingled fund managed by Clarion Partners. Lehrco Corporation purchased the asset.
Dunkirk Gateway is situated on more than 18 acres at 10790 Town Center Boulevard in Calvert County, one of the wealthiest counties in the U.S. Considered the commercial anchor of the city of Dunkirk, the property’s position along Route 4 provides direct access to Washington, D.C., which is approximately 25 miles away. Anchored by Giant, the No. 1 grocer in the Washington, D.C. region, the 98-percent-leased center is also home to a variety of national and regional tenants, including Sherwin Williams, Olympia Sports, Ledo Pizza, Capital One Bank, Verizon Wireless, AutoZone, Bank of America and Starbucks. The property is shadow anchored by Wal-Mart.
The HFF investment sales team representing the seller was led by John Owendoff and Jordan Lex.
About Clarion Partners
Clarion Partners, an SEC-registered investment adviser, FCA authorized manager and FINRA member firm, has been a leading U.S. real estate investment manager for more than 34 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles, São Paulo, Seattle and Washington, D.C. With more than $42 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors. More information about the firm is available atwww.clarionpartners.com.
About Lehrco Corporation
Lehrco Corporation, a retail development and management company headquartered in Washington, D.C., is owned by native Washingtonian Sam Lehrman, grandson of one of the Giant Food founders. Lehrco’s portfolio represents one of the largest retail portfolios owned by an individual in the Washington, D.C. area and includes very successful grocery-anchored shopping centers totaling over 1 million square feet.
The success of Lehrco’s Class A shopping center portfolio can be attributed to their location in Washington, D.C.’s prime suburban markets and to Mr. Lehrman’s philosophy to acquire select grocery-anchored shopping centers and to hold them for the long term. As such, Mr. Lehrman allocates significant capital to ensure his properties are maintained and enhanced in keeping with Class A properties in the area.
About HFF
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
