A local investment group announced the purchase of the retail portion of Towson Commons Tuesday.
Towson Commons Retail, LLC consists of the affiliates of MFI and Woodmont Properties II, LLC. MFI Realty, a local retail-focused brokerage firm, is the leasing agent. They have an established affiliation with the buyers of the 115,000 square feet of retail space along York Rd. and Pennsylvania Ave.
"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, professional and destination shoppers alike," said director of leasing for MFI Realty, Michael Stoltz.
MFI Realty is one the leading retail-focused brokerage firms in the Baltimore-Washington area. The firm specializes in leasing, tenant representation, investment sales and mortgage brokerage. MFI Realty leases more than 45 retail properties.
"The time is right for these prime storefronts to come alive in downtown Towson," said Baltimore County Executive Kevin 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 announcement."
Recent investments in downtown Towson, such as Cinemark theaters, Towson Row, and Towson Square, have made it a major destination for the Baltimore market.