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Continental Realty Corp., on behalf of Continental Realty Fund V, L.P., has sold the Centre at Hagerstown, a 292,000-square-foot regional shopping center in Hagerstown, Md., for $36.3 million.

CRC purchased the shopping center back in 2019, as an investment through Fund V. Since acquiring the asset, the Baltimore-based company has sold nine out of 10 free-standing pad sites for $16.1 million, with an average cap rate of 5.4 percent. The total exit value, including the sale of the shopping center, has reached approximately $52.4 million—more than double the initial purchase price of $23.5 million.