Stape and Lupo of KLNB completes sale of Enterprise Plaza Shopping Center in Lanham, MD
LANHAM, MD — KLNB Investment Sales Group announced the completion of the sale of Enterprise Plaza Shopping Center, a highly-visible, 190,211 s/f shopping center on 16.77 acres in Lanham. Andy Stape and Vito Lupo of KLNB Investment Sales represented the seller, an affiliate of Combined Properties, Incorporated, on the transaction, and also procured the buyer, East Coast Acquisitions. This is the first acquisition in the mid-Atlantic region by the buyers. The property is anchored by Aldi and co-anchored by T.J. Maxx. Aldi recently exercised a five-year renewal option, through 2023. Other occupants of Enterprise Plaza include Verizon Wireless, Advance Auto Parts, and Dollar Tree. Four pad sites fronting Annapolis Road, also part of the center, are occupied by SunTrust, Shell, Taco Bell and Wendy’s. Plans to lease a 26,428 s/f, junior-box are underway.