Northmarq Arranges $26.8 Million Sale of Maryland Whole Foods Market

Northmarq, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a single-tenant retail store located at 300 Towson Row in Towson, Maryland. The property totals 63,750 square feet and is leased to Whole Foods Market, a multinational supermarket chain and subsidiary of Amazon. Jason Maier of Northmarq represented the buyer, a private investor based in New York. The 1031 exchange buyer acquired the asset from a Maryland-based investor for approximately $26.8 million. 

“We are excited to have completed the acquisition of this brand new retail condo that is triple net leased to Whole Foods,” said Maier, Senior Director in Northmarq’s New York office. “Greenburg Gibbons, the developer, has single handedly transformed the area around Towson University. This new mixed-use development project has converted the entire downtown area, bringing new student housing, vibrant retail with national tenants, hotels and of course this new trophy Whole Foods, which anchors the entire development and brings enormous traffic to the Towson community.” 

The property was built in 2021 and is situated on 4.3 acres in downtown Towson. The grocery store is the anchor tenant for the mixed-use development and is located less than one mile from Towson University and approximately 10 miles north of Baltimore.