Baltimore County News
115,000 Square Feet of Retail Space in Downtown Towson
Towson Commons Retail LLC, a local investment group consisting of affiliates of MFI and Woodmont Properties II, LLC, has purchased the retail portion of Towson Commons, adding to the more than $1 billion in recent private investment to downtown Towson.
Local retail-focused brokerage firm MFI Realty is the leasing agent and is affiliated with the buyers of the 115,000 square feet of retail space along York Road and Pennsylvania Avenue.
“We are excited to see MFI and Woodmont Properties going big in downtown Towson,” said Baltimore County Executive Kevin Kamenetz. “This is an exciting moment for Towson Commons. We have the on-the-ground local expertise of MFI Realty and its large presence along the York Road corridor combined with the business relationships and insight of well-established real estate investment firms.”
A Mix of Amenities
“Towson Commons is in the heart of a prestigious retail market with pent-up demand. We envision a mix of amenities to serve the many different customers in downtown Towson—residents, students, professionals and destination shoppers alike,” said Michael Stoltz, director of leasing for MFI Realty.
The street front retail space for lease at Towson Commons is connected to a separately owned and renovated 231,000-square-foot Class A office tower anchored by General Dynamics Information Technology, a new 54,000-square-foot LA Fitness and an 887-space adjacent parking garage.
“MFI Realty is positioned to bring local market understanding to a long-neglected institutional-quality retail project at the center of Towson,” said Stoltz. “With all of the recent development in Towson, we are thrilled to bring a fresh new perspective combined with a modern reconfiguration of the ground floor retail at Towson Commons. We envision an eclectic mix. A white table cloth restaurant might be next to a local boutique; a place for students to stop, study and change up could be next to a destination national retailer.”
"The time is right for these prime storefronts to come alive in downtown Towson,” said Kamenetz. “This will be the first time in a generation the Towson Commons retail spaces have been controlled by a local developer. We look forward to the first lease announcements.”
MFI Realty Brings Local Retail Expertise
One of the leading retail-focused brokerage firms in the Baltimore-Washington region, MFI Realty specializes in leasing, tenant representation, investment sales and mortgage brokerage. MFI Realty leases a portfolio of more than 45 retail properties, totaling over 4,000,000 square feet, and also represents a variety of tenants.
Over $1 Billion in Recent Towson Investment
With more than $1 billion in recent private investment, downtown Towson is a major destination for the Baltimore market. Projects include the new 15-screen Cinemark theatres and restaurants at Towson Square, 2,700 new downtown apartments and townhomes and the Towson City Center office tower, which houses 600 workers at Towson University programs and headquarters for MileOne Automotive and Remedi Senior Care. Under construction at York Road and Towsontown Boulevard is Towson Row, a one-million-square-foot mixed-use development with a Whole Foods Market, luxury and student housing, offices, a hotel and open public greenspace.
Revised September 26, 2016