WexTrust Sells Grocery-Anchored Shopping Center

ESSEX, MD-A Chicago-based private equity firm has sold its only Baltimore asset for an undisclosed price. A spokesman for WexTrust Capital tells GlobeSt.com that while the firm will not release pricing details it did realize a “significant profit” in the sale of the grocery-anchored retail center for the short time that it owned the asset.

Referred to as Hyde Park Station, by local shoppers in this Baltimore suburb, the class A, 57,077-sf, one-story structure is anchored by Food Lion and contains eight tenant suites that range from 1,200 sf to 37,119 sf. It is fully occupied, according to the spokesperson. “After WexTrust acquired it, [the firm] focused on improving its performance in order to resell it,” he says. “It was never intended to be a long term hold in the portfolio.”

The property, which WexTrust acquired in November 2004, was sold through its affiliate Hyde Park Investors LLC to a Boston-based investment advisor. The buyer was represented by Tim Hearn of KLNB Management.

Hyde Park Station is located on a 7.5 acres parcel in between Southeast Boulevard to the west and Back River Neck Road to the east.

“Grocery-anchored shopping centers continue to be among the most actively pursued asset types by long-term real estate investors,” says Matt Gurvey, investment advisor for WexTrust, in a press release. “We are pleased to have completed this transaction, and in-turn delivered a significant return on investment to our investors.”