Acquisition increases Klein Enterprises’ retail portfolio to over 20 properties

Baltimore-based real estate developer Klein Enterprises has acquired the North East Station Shopping Center, located at 2500-2548 West Pulaski Highway in North East, Maryland for $11,625,000.

The 87,006-square-foot shopping center is anchored by a Food Lion grocery store. Additional tenants in the 90.3 percent-leased center include a Walgreens, Waffle House, AutoZone, Wendy’s and West Marine. The shopping center is also in close proximity to Charlestown Crossing, a Klein Enterprises residential property.

“North East Station allows us to grow our already strong portfolio of retail assets,” said Daniel Klein, president of Klein Enterprises. “As we continue to expand geographically, we are thrilled to add North East Station to our Maryland properties.”

North East Station is less than a mile from the Principio Industrial Park, which will house the new Amazon distribution center and its 700 full-time employees, and is just two miles from another Klein Enterprises development, the Apartments at Charlestown Crossing. At the entrance to North East Station, the new 40,000-square-foot Cecil County Public Library is being built and expected to open in late 2019. It will be the county’s busiest library, featuring expanded small business and childhood learning centers.

“We expect that both the Amazon distribution center and the new library will draw significant traffic to the shopping center,” said Klein.

About Klein Enterprises

Over four generations, Klein Enterprises has grown from a single department store to more than 3 million square feet of commercial and residential properties, all while upholding a tradition of hard work and innovative ideas instilled by the Klein family. Klein Enterprises, based in Baltimore, has decades of experience and success in development, acquisitions, brokerage, leasing, property and asset management. For more information on Klein Enterprises, visit www.kleinenterprises.com.