MCRES Brokers Sale of Five-Building, 185,000 SF Normandy Shopping Center for $57.5 Million
Owen Rouse and Tom Green represents the seller and procures the buyer for property anchored by Planet Fitness and Triveni international market in Ellicott City section of Howard County, Maryland
Normandy National Pike, LLC has acquired Normandy Shopping Center, a five-building asset composed of 185,000 square feet of commercial office and retail space from Normandy Venture, LP for $57.5 million. Owen Rouse, Vice President and associate Tom Green of MacKenzie Commercial Real Estate Services, LLC represented the seller and procured the buyer for the property consisting of three separate parcels and contained within a nearly 25-acre site at 8450 Baltimore National Pike, in the Ellicott City section of Howard County, Maryland. Normandy National Pike, LLC is a partnership owned by Ellicott City residents Gurmit, Ish, and Maninder Singh.
Fronting MD Route 40 (Baltimore-National Pike) at the eastern entrance of Howard County near MD Route 29, Normandy Shopping Center is anchored by Planet Fitness, Triveni Supermarket, Pinebrook Montessori Childcare, Bank of America, High’s Dairy Store and Kelsey’s Restaurant. With more than 45 tenants, the center offers 10 different American and international cuisine restaurants and a variety of retail and professional services including Safesplash Swim School, Uptown Cheapskate, and J&J Sew N Vac. A nearly six-acre undeveloped lot that is part of the center offers the new owners the opportunity to expand the project.
“When Normandy Shopping Center was delivered in 1961, the asset was the original mixed-use project and the first grocery-anchored shopping center in the Howard County area, and was developed on land continuously owned by the Moxley family for more than 130 years,” stated MacKenzie’s Rouse. “With a dominant grocery store anchor, as well as restaurants and retailers in various categories, it served as the primary shopping destination for consumers over an extended time. The departure of Safeway after more than five decades prompted the previous owners to invest in a significant, successful redevelopment which elevated the center to its currently 100 percent occupancy level.”
Rouse added that Normandy Shopping Center represents the first local project in the local area for the new ownership group. “We fielded a substantial amount of competitive offers for the property, as historically low retail vacancy levels, the lack of new shopping centers being developed, and rising rental rates has fanned the interest among investors in the retail category. Normandy Shopping Center is now fully-stabilized, the physical plant is in excellent condition, and the new owners have secured an asset that will increase in value over the long-term,” he added.
Armed with commercial real estate experience in the Howard County area spanning more than 25 years, Rouse further noted that “he understands the market, the players in the local real estate industry, and the projects extremely well.”
“Normandy Shopping Center is an iconic project and its tremendous roadside presence overlooking US Route 40 positions the asset as a true Howard County landmark,” Rouse said. “If you live or work anywhere in Howard County, you have visited its restaurants and retailers countless times.”
MacKenzie Commercial Real Estate Services is the real estate brokerage arm of The MacKenzie Companies, which operates five full-service divisions addressing all real estate asset classes including MacKenzie Management Company, MacKenzie Contracting Company, MacKenzie Capital, and MacKenzie Investment Group. The company provides customized real estate solutions for institutional owners, investors, private companies, and individuals. For additional information, visit www.mackenziecommercial.com
