Pasadena, Md. – January 13, 2026 – NAI Coastal represented Gillis Gilkerson, a full-service construction and development company based on Maryland’s Eastern Shore, in acquiring a shopping center located at 8567 Fort Smallwood Road in Pasadena, Maryland. The sale price totaled $6.65 million.
The buyer was represented by the Joey Gilkerson, Chris Gilkerson, and Brad Gillis Team of NAI Coastal. Tim Harrington and Mike Ruocco of Mackenzie Retail represented the seller.
The newly acquired shopping center presents a significant redevelopment opportunity within the Pasadena market. The buyers intend to breathe new life into the center, with plans that include filling a long-vacant grocery store space with a new anchor tenant, supporting the existing tenant mix, and enhancing the overall appeal and functionality of the property.
“This acquisition aligns perfectly with our long-term vision of reinvesting in well-located neighborhood centers that have strong fundamentals but have been underutilized,” said the ownership group. “We see tremendous potential in this location and look forward to restoring it as a vibrant commercial hub for the community.”
Joey Gilkerson emphasized the collaborative nature of the transaction and the excitement surrounding the center’s future:
“This was a true team effort from start to finish,” said Gilkerson. “Working closely with Mackenzie and the entire group made for a smooth and successful closing. We’re excited to help bring new life into a center that has been sitting idle for quite some time and transform it into the asset it was always destined to be—one that strengthens the surrounding neighborhood and serves the community for years to come.”
For more information on this transaction, contact Joey Gilkerson by emailing Joey@NAICoastal.com or by calling 410- 543-5115.
About NAI Coastal
NAI Coastal is a full-service commercial brokerage headquartered at Riverview Commons, 150 West Market Street, Suite 101 in Downtown Salisbury, Maryland. The team of ten advisors have comprehensive market knowledge and an unwavering commitment to the Delmarva region. In addition to brokerage and development, NAI Coastal rounds out their service offerings with consulting, which covers leasing, assemblage, acquisition and sale and investment advising. For more information please visit www.naicoastal.com or call 410-543-5115.
