Crowdfunding Ownership of W.Baltimore’s Walbrook Junction Shopping Center is Open to Area Residents
Industry: Real Estate
Chicago TREND has launched a first of its kind crowdfunding campaign that is facilitating local ownership of the Walbrook Junction Shopping Center in West Baltimore.
Baltimore, MD (PRUnderground) January 13th, 2021
Chicago TREND, a Black-owned commercial real estate investment company, has launched a crowdfunding campaign that offers the opportunity for local ownership of the Walbrook Junction Shopping Center (WJSC) in West Baltimore. It’s the first crowdfunding campaign in the city of Baltimore that is inviting Black entrepreneurs, community residents, and impact investors to become co-owners of a commercial property.
“The WJSC crowdfunding opportunity, which is available through the registered funding portal, SmallChange.co, will allow West Baltimore residents to experience the wealth-building potential of shopping center ownership,” says Lyneir Richardson, CEO of Chicago TREND. “It’s a patient, purposeful real estate investment strategy that aims to keep local dollars close to home. It also helps socially conscious small investors and people of color to gain a meaningful stake in the revitalization of commercial corridors, Black shopping districts, and their own neighborhoods.”
WJSC is located at 3411-3425 Clifton Avenue in the Walbrook section of West Baltimore. Details about the property include:
- The shopping center has 47,070 square-feet of retail space that’s 97.5% leased.
- The 12 service-oriented tenants include a mix of national retailers (Rite-Aid, Save-A-Lot supermarket, Rent-A-Center, Papa John’s, Metro PCS, Boost Mobile) and single location local retailers.
- The tenants have been designated by the state of Maryland as providers of essential services.
- The tenants’ “Amazon-proof” offerings cater to the needs of the local community.
- The ownership will endeavor to hire local and Black-owned companies that deliver such services as leasing, management, repairs, and groundskeeping to maintain the property.
“The WJSC crowdfunding opportunity will be open for a short time,” says Richardson. “We have intentionally structured the deal to allow for community investors to own up to 49% of the shopping center. They’ll become members of the project entity and will own it with us. Thanks to a fairly new SEC regulation called Regulation Crowdfunding, everyone over the age of 18 can invest with just a little money.”
As a registered funding portal, SmallChange is a member of FINRA. For more information about this ownership opportunity, visit the Walbrook Junction Shopping Center crowdfunding page.
About The Chicago TREND Corporation
Chicago TREND catalyzes, accelerates and finances strategic retail development to drive neighborhood transformation.