Institutional Property Advisors Closes International Foods Anchored Retail Center Sale in Baltimore
January 20, 2026
BALTIMORE, Jan. 20, 2026 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of Highlandtown Village, a 57,524-square-foot retail center anchored by Hazlo International Foods in Baltimore, Maryland.
“Demand for grocery-anchored shopping centers continues to grow,” said David Crotts, IPA managing director investments. “Hazlo has a strong operating history at this location and is on a long-term lease. The supermarket’s grocery sales have grown 40% since 2018.” Crotts and Dean Zang, IPA executive managing director investments, represented the seller for this transaction.
Surrounded by the Highlandtown, Canton, Patterson Park, Brewer’s Hill and Baltimore Highland neighborhoods, the population within a five-mile radius is over 472,500. U.S. Route 40 and Interstate 895, which see over 28,000 and 41,580 vehicles per day, respectively, are nearby. The Highlands Forge mixed-use development, which has 190,000 square feet of commercial space is adjacent and Johns Hopkins Bayview Medical Center is within proximity.
Built in 1987, Highlandtown Center was 100% occupied at the time of the sale. The center’s top five tenants by income are Hazlo, Dollar Tree, Baltimore Bark House, Fishtail Wine, and Song’s Beauty Supplies. These five tenants produce over 77% of the gross income and have an average weighted lease term of 6.6 years. Overall, average tenant occupancy is over 14 years.
“Demand for grocery-anchored shopping centers continues to grow,” said David Crotts, IPA managing director investments. “Hazlo has a strong operating history at this location and is on a long-term lease. The supermarket’s grocery sales have grown 40% since 2018.” Crotts and Dean Zang, IPA executive managing director investments, represented the seller for this transaction.
Surrounded by the Highlandtown, Canton, Patterson Park, Brewer’s Hill and Baltimore Highland neighborhoods, the population within a five-mile radius is over 472,500. U.S. Route 40 and Interstate 895, which see over 28,000 and 41,580 vehicles per day, respectively, are nearby. The Highlands Forge mixed-use development, which has 190,000 square feet of commercial space is adjacent and Johns Hopkins Bayview Medical Center is within proximity.
Built in 1987, Highlandtown Center was 100% occupied at the time of the sale. The center’s top five tenants by income are Hazlo, Dollar Tree, Baltimore Bark House, Fishtail Wine, and Song’s Beauty Supplies. These five tenants produce over 77% of the gross income and have an average weighted lease term of 6.6 years. Overall, average tenant occupancy is over 14 years.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.