10300 Little Patuxent Pkwy, Columbia, MD 21044-3341
- Super regional malls
- 454,000 SF
- 62.33 lot acres
Current Use by Public Records
- Chick-fil-A / Take-out & Catering / Catering Service
- AMC Columbia 14 / Cinema / Theater & Performing Art Venue
- SKECHERS Retail / Clothing & Fashion Store / (Bike/Boat/Book/etc) Store
- Carpenter Tan / Tanning Salon
- Yankee Candle / Industrial Manufacturer / Production Facility
Property Details for 10300 Little Patuxent Pkwy
- Year built
- 1971
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 62.33 lot acres
- Zone code
- NT
- Property type
- Super regional malls
- Property subtype
- Shopping centers
- APN
- 15-126248
- APU
- 15126248
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Sep 19, 2022 | $9,440,625 | Memd Columbia LLC | Ctl Propco I LLC | Deed | $54.6M · Acore Capital Mortgage LP |
| Sep 19, 2022 | — | Memd Columbia LLC | — | Deed · related | $54.6M · Acore Capital Mortgage LP |
| Jun 29, 2022 | $6,690,000 | Ctl Propco I LLC | J C Penney Corporation INC | Deed · related | — |
| Mar 1, 2022 | $6,690,000 | Ctl Propco I LLC | J C Penney Corporation INC | Deed | — |
| Dec 4, 2020 | — | Cm Theatre LLC | — | Deed · related | $250M · Column Financial INC |
| Sep 4, 2020 | — | Tmic Fs Anchor Parcel LLC | Gs Portfolio Holdings LLC | Grant Deed | — |
| Aug 31, 2018 | — | Cm Theatre LLC | — | Loan Modification · related | $350M · Miscellaneous Ins Co |
| Sep 5, 2012 | — | Mall Of Columbia Business Trust | — | Deed Of Trust · related | $350M · New York Life Insurance |
| Oct 10, 2007 | — | Cm Theatre Business Trust | — | Deed Of Trust · related | $340M · Metropolitan Life Insurance |
| Dec 23, 2003 | — | In Columbia Business Tr Mall | Columbia Mall INC | Quit Claim Deed · related | — |
| Nov 26, 2003 | — | In Columbia Mall | Howard Research & Development | Grant Deed · related | — |
Description
This exceptional investment opportunity presents a 170,382 square foot JCPenney store located in the highly desirable Columbia Mall in Howard County, Maryland. The property boasts a strong 16-year remaining lease term (expiring November 30, 2040) with a highly creditworthy tenant, JCPenney. The absolute NNN lease structure ensures zero landlord responsibilities, and features a 2% annual rent increase, providing consistent and growing income. Five, 5-year renewal options further enhance the long-term value of this investment. The property sits on a 2.91-acre lot and is part of a thriving shopping center, benefiting from the mall's over 9 million annual visitors and its "A" grade from Green Street, reflecting exceptional annual sales of $882 per square foot. The location is strategically positioned near major roadways, including Highway 29, and is surrounded by other prominent retailers and restaurants, including Apple, Chick-fil-A, Lululemon, and more. The surrounding area is characterized by high household incomes exceeding $170,000, a growing population (over 20% growth within a 1-mile radius since 2010), and low retail vacancy rates (4.4%). The lease is guaranteed by several restructured JCPenney corporate entities, maintaining a substantial net worth and liquidity. This property offers a compelling combination of strong tenant creditworthiness, a long-term lease, and a prime location in a high-performing retail market, making it an ideal investment for those seeking passive income and long-term growth. The property was built in 1971 and benefits from the mall's 2013 renovation and expansion. The mall is also adjacent to a new medical office building and near Johns Hopkins Howard County Medical Center.
Value Estimations
-
Alternative Use
- Use
- Estimation
- NEIGHBORHOOD: SHOPPING CENTER
- $9,585,000 Current use
- WAREHOUSE, STORAGE
- $15,595,000 Change: +63% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $13,590,000 Change: +42% Conversion: Difficult
- RETAIL STORES
- $9,720,000 Change: +1% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Columbia
- County
- Howard
- State
- Maryland
- Longitude
- -76.8614
- Latitude
- 39.2157
- CBSA code
- 12580
- CBSA name
- BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA
