Joint venture buys Glen Burnie plaza for $17.6 million

Acadia-MCB Holding Co. LLC, a joint venture between affiliates of Baltimore-based MCB Real Estate LLC and Acadia Realty Trust, announced Wednesday the acquisition of the 265,000-square-foot Arundel Plaza on Ritchie Highway in Glen Burnie.

Arundel Plaza, which is anchored by a Giant supermarket and a Lowe's home-improvement store, is the third center acquired by the joint venture in the past year and a half, according to a statement from Acadia Realty Trust, based in White Plains, N.Y., and MCB Real Estate.

The purchase price was $17.6 million, according to the joint venture.