154,299 square-foot shopping center sells to MegaMart

Klein Enterprises, a Baltimore-based real estate developer, announced today the sale of Patapsco Village, a 154,229 square-foot shopping center located at 3400 Annapolis Road in Halethorpe, Maryland to MegaMart, an owner and operator of nine Latin American focused grocery stores throughout the Mid-Atlantic region. The Patapsco Village shopping center was initially developed by an affiliate of Klein Enterprises in 1983 and has been owned and operated by Klein Enterprises since that time. The transaction was finalized on Tuesday, January 8, 2019.

MegaMart will open its recognizable brand of grocer in the former Food King space and intends to work alongside other existing tenants including Roses Discount Store, M&T Bank, Rainbow, and Shoe City to continue to service the surrounding community.

The transaction is consistent with Klein Enterprises’ long-term strategy of optimizing its existing portfolio and expanding both its asset class and geographic footprint throughout the broader Mid-Atlantic region. Klein Enterprises continues to evaluate opportunistic transactions regarding its legacy portfolio in addition to new acquisition and development opportunities.

About Klein Enterprises

Over four generations, Klein Enterprises has grown from a single department store to?over 35 properties comprised of over 2 million square feet of commercial properties and approximately 1800 Class A multifamily units, all while upholding a tradition of hard work and innovation 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.