Overview
KLNB Retail Capital Markets is pleased to announce for sale the ownership interest of a retail condominium regime, Circle East. The offering is comprised of an extremely well-located, 82,650 SF value-add retail condo in the dense and affluent Towson submarket of Baltimore County, Maryland. Constructed in 2020, the asset is well maintained and presents a value-add opportunity to lease up 35,505 SF of inline vacancy, and the property can be purchased significantly below replacement cost. Circle East is positioned in the heart of both downtown Towson and the submarket’s retail node and is within walking distance to major employment drivers Towson Town Mall, and both Towson University (19,400+ students) and Goucher College (1,090+ students). The subject property is comprised of strong national credit tenants such as Sweetgreen, Shake Shack, Ethan Allen, and Charles Schwab. With a healthy-weighted average lease term of 4.9 years on existing tenancy, and 43% of GLA available for lease, Circle East offers an investor a rare value-add opportunity with strong, in-place cash flow.
Investment Highlights
- 43% of the property is currently vacant and available for immediate lease-up. Suite sizes range from 1,400 SF to 8,220 SF, accommodating a wide range of retail uses.
- Shake Shack, Sweetgreen, Ethan Allen, and Charles Schwab are all strong national operators which make up 36% of the GLA and 64% of the in-place base rental income.
- Can be purchased with adjacent Towson Square allowing purchaser to acquire neighboring 138,000 SF retail asset anchored by high-performing Cinemark, please contact broker for more information.
- Adjacent to Towson Square anchored by the Cinemark Towson, the third most visited movie theater in the state. Ranks in the top 97th percentile in the country with 758k annual visits per placer.ai, allowing Circle East to act as a convenient food and dining option for those visiting the cinema.
- Insulated consumer base, located near numerous Colleges and economic anchors within Towson; 0.9 miles from Towson University and 0.5 miles from Goucher College, which have a total of 21,400+ students.
2025 Demographic Summary
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