SVN | Miller CRE facilitates 21-acre land sale in Ocean City

OCEAN CITY, MD — The McClellan Team with SVN | Miller Commercial Real Estate announced the completion of the sale of 21 acres of land underlying Outlets Ocean City, a property subject to a long-term ground lease with leasehold improvements consisting of the well-known outdoor shopping center.

The McClellan Team (comprised of John McClellan, Kelly Jeter, and Chris Messick) facilitated a transaction involving detailed financial analysis, coordination among multiple stakeholders, and a solutions-oriented structure that resulted in the sale of the land to the contract purchaser of the leasehold improvements.

As part of the transition, The McClellan Team, in collaboration with fellow SVN | Miller advisor Ryan Finnegan, has been awarded the leasing assignment for the center.

Located along the West Ocean City corridor, Outlets Ocean City is a key retail destination serving both locals and visitors.