Marcus & Millichap Arranges Sale of $13M Newly Constructed Retail Project in Northern Maryland

BEL AIR, MD., Dec 3, 2025 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of the retail portion of the James Run Development in Bel Air, Maryland. James Run is the newest mix-use development in Harford County. The sale consisted of two separate transactions and four buildings totaling 26,794 square feet for a total consideration exceeding $13,000,000.

Two buildings were leased under long-term leases to Darden restaurant concepts, while the other two buildings were newly constructed retail strip centers leased to esteemed national names.

"Our marketing process was able to provide seamless reach to the various buyer pools that existed for this offering. Ultimately, that resulted in two very different buyer profiles; one institutional and the other a first-time shopping center purchaser," said Dean Zang, executive managing director investments. "We continue to find many new private groups seeking to invest in all types of retail properties. Our depth of experience in all things retail gives our team unapparelled reach to these lesser-known entities and individuals."

Zang, David Crotts, and Jeffrey Pensak, investment specialists in Marcus & Millichap's Washington, D.C. office, had the exclusive listing to market the property. The team also secured and represented the buyers in each transaction.

Shoppes at James Run consists of two pad sites under long-term ground leases to Olive Garden and Long Horn Steakhouse and a five-tenant retail strip located in Bel Air, Maryland. Constructed in 2024 and 2025, the retail strip consists of two buildings totaling 13,189 square feet to brands including Starbucks, Chipotle, and Tropical Smoothie Café. The Shoppes neighbor a new Royal Farms convenience store, Tesla supercharging station, and the aforementioned Longhorn Steakhouse and Olive Garden.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit https://www.MarcusMillichap.com.