IPA Negotiates Sale of 85,514 SF Coral Hills Shopping Center in Capitol Heights, MD

Institutional Property Advisors (IPA), a division of Marcus & Millichap, recently negotiated the sale of Coral Hills, an 85,514-square-foot shopping center in Capitol Heights, Maryland. Located approximately 10 miles from downtown Washington, D.C., the property was built in 1988 on over six acres. David Crotts and Dean Zang of IPA represented the national investment management company selling the asset and secured the undisclosed buyer. The sales price for the transaction was not disclosed.

Jared Cassidy of Marcus & Millichap Capital Corp. (MMCC) arranged the necessary financing for the buyer through an international bank. A key development for the center is the planned replacement of the former Shoppers Food anchor with international grocer New Grand Mart. Coral Hills currently hosts a diverse mix of tenants, including national retailers, medical and professional service providers, and various casual dining establishments. This sale highlights continued investor interest in well-located retail properties, especially those with new anchor tenants poised to drive foot traffic and enhance property value for future development or repositioning efforts.