Continental Realty Corporation (CRC) has completed the sale of Governors Commons, a neighborhood shopping center located at 7311 Governor Ritchie Highway in Glen Burnie, Maryland, for $9.57 million.

The recent disposition follows three previous parcelization executions at the asset resulting in a total gross sale price of $20.35 million. CRC acquired the center in 2019 for $16.2 million. Dean Zang and David Crotts of Marcus & Millichap represented CRC in this sales transaction.

“Governors Commons is the latest in a series of successful shopping center divestments by CRC in recent quarters,” said Haley Donato, CRC’s Senior Vice President of Asset Management & Finance. According to Donato, a significant driver of the success of the Governors Commons sale was the team’s expertise in subdividing and selling pad sites, which created significant cap rate arbitrage. CRC sold separate paid sites occupied by PNC Bank and Bubba’s 33, as well as a Gavigan’s Furniture freestanding anchor at a blended 5.3 percent cap rate.

Jay Nuss Realty Group, LLC completed the sale of a 37-unit, nine-masonry building apartment portfolio in Quincy, MA. The undisclosed buyer paid $10 million.

The investment team of Angela Nuss, Liz Tavares and Jay Nuss represented the seller, BAZ, LLC, and also procured the buyer for the property. The Jay Nuss Realty Group team worked with fellow Charles River Regional Chamber member JustJump Marketing, Inc. to design and implement the marketing plan for the sale of these units.

Located at 5, 14, 20, 26 and 32 Bishop Rd. and at 170, 176, 182 and 186 Summit Ave. in the Wollaston section of Quincy, the property features 32 apartments in eight buildings, and 5 apartments in a ninth building, all with updated kitchens and bathrooms. All but one of the units are two-bedroom apartments.

““This transaction is certain to contribute to the continued prosperity and appeal of the local community,” said Jay Nuss.

A building housing an Academy Sports + Outdoors in Brenham has sold for $10.26 million. SRS Real Estate Partners completed the sale of a newly developed 63,224-square-foot single-tenant retail property occupied by the sporting goods giant. The property has a 15-year, corporate-guaranteed lease in place.

Situated on approximately six acres, the property is located at 1041 Nolan Street in Brenham, TX. The City of Brenham is located between Austin and Houston. Academy Sports is within Market Square Brenham, a 51-acre development with 125,000 square feet of retail space and more than 200 multifamily units.