Neuman Commercial Group, LLC has arranged the sale of The Shoppes at Bowie Town Center outside of Washington D.C. for $21 million. Located at 3811 Evergreen Parkway near the US Route 301 and 50 interchange in Bowie, Maryland, The Shoppes is a 104,000 square foot specialty retail extension of 578,000–square foot Bowie Town Center, the area’s leading open-air lifestyle shopping center. Developed in 2004 on 10.5 acres, the center is 98% leased to 12 national and regional tenants including Five Below, Party City, Goodwill, Bank of America, A.C. Moore, Music & Arts, David’s Bridal, Sprint, and California Tortilla. Neighboring Town Center tenants include Safeway, Macy’s, Sears, Best Buy, Barnes & Noble, Off Broadway Shoes, L.A. Fitness, Chipotle and Starbucks. Neuman Commercial Group, led by Principal, Gil Neuman, exclusively represented the seller, Shoppes at Bowie Town Center LLC, a private Maryland developer, and procured the buyer, J.A.R. New York RLT.
“We congratulate the sellers on successfully harvesting their original development after further diligent value creation, and the buyers for acquiring a modern stabilized center in a dense and growing highincome demographic,” stated Gil Neuman, Principal of Neuman Commercial Group, LLC.
The property draws from a wide trade area throughout Prince George’s and Anne Arundel Counties. 49,000 residents with $129,000 average household income live within a three-mile radius. Area landmarks include Six Flags America amusement theme park and Andrews Air Force Base.
Neuman Commercial Group formed in 2017 as a highly focused firm specializing in representing sellers of Mid-Atlantic anchored, unanchored, urban, and enclosed mall retail properties.
