Shopping center sells for $16.7M after 40 years

A Baltimore County shopping center has traded for $16.65 million in its first ownership change since 1981. The two-building Arbutus Shopping Center at 1052–1082 Maiden Choice Lane and 4733-4741 Westland Blvd. was sold to an LLC belonging to local investorMeir Duke, whose portfolio includes commercial assets and other shopping centers. The seller — Stamford, Connecticut-based AmCap Inc. — was looking to offload the center ahead of its debt maturation, according to KLNB Principal Chris Burnham, who advised the company along with his colleague Vito Lupo.