Nellis Corp, a developer based in Rockville, Maryland, recently purchased the Owen Brown Village Center from Winthrop Realty Trust, a New York based publicly traded (FUR) real estate investment trust.
This village center, originally opened in 1979, was originally developed by the real estate division of Giant Foods and is the only village center in Columbia that was not developed by The Rouse Company.
The purchase price was $5 million dollars for the 73,380 square foot shopping center, which seems to be a bargain price ($68.00 per square foot) considering that most commercial buildings in Columbia now trade for well over $200.00 per square foot.
The Bad Element
18 hours ago