Continental Realty Corp. Initiates Renovation Activities on Carney Village Shopping Center

$2 million cosmetic and structural improvement project underway at 52,000 square foot shopping center in Baltimore County

Continental Realty Corporation has initiated wholesale renovation activities on the Carney Village Shopping Center, a 52,000 square foot retail property located at the corner of Joppa Road and Harford Road in Baltimore County.  The improvements, valued at approximately $2 million, will be completed by The Mullan Contracting Company with Arium AE serving as the architect and A/A Signs producing the new signage.  The renovation coincides with a long-term commitment from anchor Mars Supermarket to continue serving the community from this location.

The renovation will result in the installation of a modernized façade, new storefront signage and two new pylon signs at the center’s main entrances.  The construction package also includes the installation of a new Firestone TPO roof system, which features a tan color that will reflect the sun’s rays and reduce energy usage for businesses within the shopping center.  In addition, sidewalks will be replaced, the parking lot will be sealed and cart corrals will be incorporated throughout the parking field for use by Mars’ customers.

The final phase of the improvements will involve the creation of several green areas within the center, including a courtyard-style garden with native plant species and the installation of public benches and bike racks.

Originally constructed in 1974, Carney Village is 100% leased to nine tenants.  Along with Mars, other occupants include CVS Pharmacy and Baltimore County Savings Bank.  More than 275,000 people reside within a five-mile radius of the shopping center and average household income levels exceed $73,000.

“This renovation represents an investment in the present and future tenants of Carney Village and reinforces our commitment to provide the local community with high-quality retail projects that are both convenient and attractive,” explained David Donato, Vice President, Commercial Division of Continental Realty. “Significant physical upgrades are required at every real estate asset over time.  With Mars pledging to stay on as a first-rate anchor for the center, we felt like the time was right to improve the overall shopping environment for all of our tenants and their customers.”

“We are pleased to maintain this solid relationship between two Baltimore-based companies,” added Christopher D’Anna, Chairman and CEO of Mars Supermarkets, Inc.  “This renovation will help Mars meet the grocery needs of the Carney community and enable us to continue providing the distinctive blend of friendly service, outstanding product selection and affordable prices that our customers have come to expect.”

Headquartered in Baltimore and founded in 1960, Continental Realty Corporation is a full-service commercial real estate development and management company. The privately-owned firm manages a diversified portfolio of commercial office buildings and retail centers consisting of more than 2.5 million square feet of space, as well as apartment home communities featuring more than 7,000 multi-family homes. Positioned throughout Maryland and Florida, the value of the portfolio exceeds $1 billion. Continental Realty focuses on asset value generation achieved through expert leasing and property management activities and long-term ownership. For additional information, visit www.crcrealty.com.

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