Ordnance Plaza
Glen Burnie, Maryland

Property Type: Retail Shopping Center

Acquisition Date: June 2002

Investment Thesis & Opportunities

  • Recognized value of under-leveraged asset (26% vacancy at acquisition)
  • Dominant tenancy with Staples, Sports Authority, McDonalds and PetSmart and shadow anchor tenants Home Depot and Costco
  • Institutional quality asset

Value Add Activities

  • Active leasing initiative
  • Executed lease with Sears
  • Executed lease with Planet Fitness as complementary tenant to Sports Authority