KLNB Awarded Maryland Property Portfolio from DDR Corp.

8/23/17

KLNB to Lease Vacancies in Largo Town Center, Duvall Village and Harundale Plaza

KLNB, the full-service commercial real estate brokerage firm, announced today that it has been hired by DDR Corp. (NYSE: DDR) to lease vacant retail space and help develop strategies for adding value to three properties in Maryland: Largo Town Center, a 281,000-square-foot regional center in Largo, Md.; Duvall Village, an 88,000-square-foot shopping center in Bowie, Md.; and Harundale Plaza, a 218,000-square-foot regional center in Glen Burnie, Md. KLNB principal, Michael Patz, and KLNB associates, Cooper Henry and Joe Mekulski will represent DDR.

DDR is a real estate investment trust that owns and manages a high-quality portfolio of value-oriented shopping centers located in top markets across the United States. Its mission is to be the most admired providers of retail destinations and the first consideration for retailers, investors, partners and employees. The corporation’s portfolio is concentrated in high barrier-to-entry markets with stable populations and strong growth potential and is actively managed to create long-term shareholder value. DDR is publicly traded on the New York Stock Exchange under the symbol DDR.

While KLNB has represented DDR in the Virginia market, Patz says this is the first time the firm has represented DDR in Maryland.

“DDR is a major player in the real estate industry – it’s one of the largest publicly traded REIT companies in the country, representing 100 million square feet and nearly 300 retail properties throughout the U.S. and Puerto Rico,” said Patz. “We began our relationship with DDR while working on a variety of deals in Winchester, Va., White Marsh, Md. and Glen Burnie, Md. and wanted to grow the relationship further. Getting an account like this with three different listings is a big opportunity for us, and we are excited to expand our representation of the company’s properties throughout the Mid-Atlantic.”

Largo Town Center, located on the 900 block of Largo Center drive on the intersection of Routes 202 and 214, has easy access to I-495 and the frequently traveled Arena Drive. The property is anchored by Shoppers, Marshalls and Dollar Tree and features a mix of food and beverage tenants such as Subway, Largo Liquors, Little Caesars and Bojangles; community amenities such as Advanced Auto Parts, Armed Forces Career, SunTrust Bank and Minuteman Press; and fashion and beauty tenants such as Dress Barn, Super Beauty, New Magic Nails and Salon Plaza. The center is located in Largo, a densely populated community with an average household income of $87,779.

Duvall Village is located in the affluent Bowie trade area at the intersection of Annapolis Road and Glen Dale Road. The property has two points of ingress and egress off the Glen Dale Road, giving visitors easy access to the wide range of retail tenants such as Service Cleaners, KOF Sports Café, Educational System Federal Court Union and The Village Nail Bar. The shopping center sits within a heavily populated area, with 218,096 residents within a five-mile radius with an average household income of $102,507.

Harundale Plaza is located at the intersection of the 7000 block of Ritchie Highway and Aquahart Road. The property has high exposure to traffic on Ritchie Highway, making it easily accessible to the area’s 96,936 daytime visitors, located within a five-mile radius. Harundale Plaza is anchored by Burlington, Regency Furniture and HomeGoods and provides shoppers access to food and beverage tenants such as Outback, Mission BBQ and Sin Fronteras Café; and community amenities such as Croydon Vet Hospital, Rent-A-Center and Wells Fargo. The average household income within a five-miles radius of the property is $92,462 with an overall population of 184,465.

For leasing opportunities, contact Michael Patz (mpatz@klnb.com), Cooper Henry (chenry@klnb.com) and Joe Mekulski (jmekulski@klnb.com). For more information about KLNB’s retail leasing services, click here.

About KLNB

KLNB is a leading provider of commercial real estate services throughout the mid-Atlantic region. KLNB provides a variety of services including tenant and landlord representation, leasing, investment sales, property management, financing, and appraisal & valuation services. Headquartered in Maryland, close to 80 full-time brokerage professionals work across KLNB’s five full-service offices located in Towson and Columbia, Md.; Washington, D.C.; and Dulles and Tysons, Va. http://klnb.com

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