Wilmington-based Rockford Equity Partners announced it has acquired College Square Shopping Center in Salisbury, MD. Price was not immediately disclosed.
College Square is an 86,442 square foot retail center anchored by Planet Fitness and Ace Hardware. Rockford Capital acquired the building at 56 percent occupancy. It will make enhancements to the property to attract new tenants.
Located on West College Avenue near Salisbury University, College Square is positioned to cater to both the university-related population and the south Salisbury communities. To market the available 38,000 square feet of space, Rockford Capital has engaged KLNB’s Kevin Barrett as the exclusive leasing agent.
Nick Hammonds, principal at Rockford Capital, stated: “This opportunity delivered the optimal combination of in-place income, growth potential, and a great location. The proximity to Salisbury University offers a strong and growing base for our current and future tenants to provide needed goods and services.”
Rockford Capital is actively pursuing additional value-add investment opportunities throughout the mid-Atlantic and southeast regions.
Rockford Capital Partners is a private real estate firm specializing in the acquisition, repositioning, and management of small- to mid-size commercial real estate assets throughout the eastern U.S. The team focuses on identifying fundamentally strong, yet undervalued, properties and unlocking value through a proven active management process and targeted capital investments. For further information, visit http://www.rockfordcp.com
