In The News

H&R Retail Brokers Sale Of Stone House Square Shopping Center, Hagerstown, MD For $28.5 Million

The H&R Retail Investment Sales team of Mike Gorsage and Kate Howarth is pleased to announce the sale of Stone House Square, a 110,000-square-foot community shopping center located at the intersection of Leitersburg Pike (MD Rt. 60) and Cortland Drive in Hagerstown, Maryland.

The Oekos Group of Companies (“Oekos”), represented by H&R Retail, purchased the newly developed center from Faison for $28,500,000. The 110,000 square foot center is anchored by Weis Supermarkets and shadow-anchored by a Lowe’s Home Improvement store. The roughly 90% occupied center also is leased to national and regional tenants such as Chevy Chase Bank, Starbucks, Greene Turtle restaurant, & Friendly’s restaurant. This is the fifth acquisition for Oekos in the past 12 months which in total represent roughly $150 million in total acquisitions costs. Oekos continues to acquire properties and secure financing despite the recent economic conditions.

About H&R Retail

H&R Retail, with offices in Baltimore and Bethesda, Maryland, is the largest retail-only brokerage firm in the Washington, D.C./Baltimore metropolitan area. In addition to handling Investment Sales, the firm exclusively represents national and local tenants and property owners throughout the region.

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