Neuman Commercial Group arranges the sale of 104,000 s/f Shoppes At Bowie Town Center for $21M

February 20, 2018

 

 

 Bowie, MD — Neuman Commercial Group, LLC has arranged the sale of The Shoppes at Bowie Town Center outside of Washington, DC for $21 million. Located at 3811 Evergreen Parkway near the US Rte. 301 and 50 interchange in Bowie. The Shoppes is a 104,000 s/f  specialty retail extension of 578,000 s/f Bowie Town Center, the area’s leading open-air lifestyle shopping center. Developed in 2004 on 10.5 acres, the center is 98% leased to 12 national and regional tenants including Five Below, Party City, Goodwill, Bank of America, A.C. Moore, Music & Arts, David’s Bridal, Sprint, and California Tortilla. Neighboring Town Center tenants include Safeway, Macy’s, Sears, Best Buy, Barnes & Noble, Off Broadway Shoes, L.A. Fitness, Chipotle and Starbucks. Neuman Commercial Group, led by principal, Gil Neuman, represented the seller, Shoppes at Bowie Town Center LLC, a private Maryland developer, and procured the buyer, J.A.R. New York RLT.“We congratulate the sellers on successfully harvesting their original development after further diligent value creation, and the buyers for acquiring a modern stabilized center in a dense and growing high-income demographic,” said Gil Neuman, principal of Neuman Commercial Group, LLC.

The property draws from a wide trade area throughout Prince George’s and Anne Arundel Counties. 49,000 residents with $129,000 average household income live within a three-mile radius. Area landmarks include Six Flags America amusement theme park and Andrews Air Force Base. 

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