A busy retail hub on the York Road corridor in Cockeysville has changed hands for $6.3 million.
Troy’s Corner Shopping Center was acquired this month by the investment group Bavar Properties Group LLC. The 16,500-square-foot strip mall at 10029 York Road is fully leased with tenants that include Subway, 7-Eleven and Leslie Pool Supplies.
The seller was Troy Development LLC. Mark Mueller, of Broad Reach Retail Partners, brokered the deal for both the buyer and the seller.
Troy’s Corner sits on a 1.5-acre site just north of Padonia Road in the busy suburban retail corridor. The center has 70 parking spaces. Bavar officials said Friday they are planning to pump $500,000 into upgrades and renovations at the center by the end of summer including landscaping, new retail signage and an updated facade.
Bavar also owns the shopping center next door, York Marketplace, at 10015 York Road.
Tenants there include Five Guys Burger and Fries, Saladworks, Cold Stone Creamery and Bray & Scarff. The Timonium-based company is family-owned and has more than 3.5 million square feet of commercial space in Maryland, Virginia, Pennsylvania and Florida.
“Our ability to purchase a center adjacent to one of our existing properties, to leverage the ownership of both properties from an asset management perspective, was a major consideration,” said Rob Bavar vice president of Bavar Properties, in a statement.