Shopping center developer Carl Verstandig, CEO of America's Realty, has reached an agreement to acquire the Long Reach Village Center in Columbia, Md., for $5.5 million. It will be Verstandig's first deal in Howard County. The 105,000-square-foot center is 84% leased. "Columbia is like a brand new market for us," Verstandig says. "We love Howard County, we think it's a great area. But it's always been too pricey."
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