Current Yield with Participation Funds (CYwP Funds) announced today that Current Yield with Participation Fund III (CYwP Fund III) has invested in Catonsville Plaza Shopping Center (Catonsville Plaza), a Class B, 279,585 sq. ft. grocery-anchored urban retail center in Catonsville, MD. The property’s excellent visibility and access draw high consumer traffic from a dense surrounding demographic.
Catonsville is a growing community in southwest Baltimore County, close to Baltimore; Washington, DC; major highways; commuter rail lines and BWI Airport. Catonsville Plaza is in the Baltimore National Pike/US Route 40 retail corridor, less than one mile from Exit 15A Catonsville on I-695.
Catonsville Plaza is 99 percent leased to 16 national and regional tenants; 53 percent of the tenants have been in occupancy for more than 10 years. The five major anchor tenants are Shoppers Food & Pharmacy, Salontra Select Suites, Forman Mills, Planet Aid and Planet Fitness. Other tenants include Dollar General, DaVita Dialysis, Merchant’s Tire & Auto Center, Dunkin’ Donuts and Subway.
Constructed in 1975, renovated in 1992 and 2015, the property is in good physical condition; recent major capital improvements include HVAC, parking lot upgrades and roof replacement.
The investment will be used to maintain a stabilized occupancy.