Perry Hall Marketplace Sold as Part of Deal

Perry Hall Marketplace has been sold.

Armada Hoffler Properties bought the Perry Hall shopping center in a structured deal that also included another property.

Armada Hoffler Properties, which is headquartered in Virginia Beach, Va., said in a statement that it chose to acquire the Perry Hall Marketplace and the Stone House Square in Hagerstown because they were in “strong markets.”

These centers are located in strong markets as is evidenced by average household income, within a three mile radius, in excess of $90,000 and $55,000 for Perry Hall Marketplace and Stone House Square, respectively. In addition, market retail occupancy rates are approximately 95 percent across both markets.

Perry Hall Marketplace is located at 9640 Belair Road in Perry Hall, where it is anchored by Safeway.

The shopping center on Belair Road is also home to Great Clips, Unique Boutique, SweetFrog, Subway, Swan Song Spirits, Serpico Pizza and Pasta and Bank of America.

Before the acquisition, both Perry Hall Marketplace and Hagerstown’s Stone House Square were owned by the Los Angeles-based CBRE Group.

• Perry Hall Breaks Ground on New $23M Community Near Safeway
• Third Subway Opens in Perry Hall

Screenshot from video of a double rainbow over Perry Hall Marketplace in May 2014, captured by Jennifer Miller/YouTube.

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