June 2, 2025

Continental Realty Corporation Promotes Joe Schaefer To Director – Net Lease & Special Projects

BALTIMORE, MD (June 2, 2025) – Continental Realty Corporation (CRC), a Baltimore-based real estate investment and management company active in 13 states and with a portfolio value exceeding $4 billion, has announced the promotion of Joe Schaefer to the newly-created position of Director – Net Lease & Special Projects. Schaefer joined the company in 2018 and was formerly a Real Estate Manager with the company.

In his new position, Schaefer will focus on the pad site parcelization and net lease process, with responsibilities that include managing subdivisions, securing entitlements, crafting reciprocal easement agreements and other title documents, coordinating due diligence on net lease dispositions, and overseeing the development and opening of new outparcel tenants. He will also drive special projects for CRC’s commercial team, with activities including managing zoning, parking, and sign variances, as well as overseeing the rollout of ancillary revenue initiatives such as EV charging stations.

This promotion underscores CRC’s continuing retail investment strategy involving the parcelization and divestment of pad sites connected to its existing shopping center portfolio. Over the past five years, the company has sold more than 30 pad sites totaling over $76 million in value, which has served to return capital and de-risk certain retail assets early in a shopping center’s hold period.

According to Blake Dickinson, CRC’s Vice President – Net Lease Strategy, the company plans to accelerate its net lease activities to take advantage of existing fundamentals in the retail real estate industry that have heightened interest in strategically-located pad sites – especially those featuring drive thru capabilities – among restaurants, coffee shops, financial institutions, automotive-related users, and daycare and healthcare providers.

“Our net lease team utilizes an intentional and deliberate approach to each pad site,” Dickinson explained. “This starts with identifying potential end-users, with the objective to maximize value for all stakeholders and introduce under-served retail categories which benefit both the adjoining shopping center and the surrounding community. Once a user is secured, our oversight continues during the permitting, construction, and dispositions phases to facilitate execution and drive value throughout the business cycle.”

“The work is complex, and Joe’s persistence and expertise in navigating intricate legal documents, splitting parcels, and securing municipal approvals has been an instrumental part of our net lease efforts. This promotion reflects his attention to detail, creative thinking, and problem-solving abilities which have generated tremendous value to CRC,” he added.

Schaefer has more than 14 years of commercial real estate experience in operations, management, and dispositions. Before joining CRC, he functioned as Director of Operations for Landmark Realty, where he managed the day-to-day operations of its residential portfolio. He earned a Bachelor of Arts degree in Managerial Economics from Allegheny College and a Master of Professional Studies, Real Estate Development from Georgetown University. Schaefer holds commercial real estate licenses in multiple states and is a member of the Urban Land Institute.

Headquartered in Baltimore, Maryland and founded in 1960, Continental Realty Corporation is a full-service commercial real estate and investment company focused on acquiring and operating retail and multifamily properties. The privately held firm owns and manages a diversified portfolio of retail centers consisting of approximately eight million square feet of commercial space and more than 10,000 apartment homes across 13 states, with a portfolio value exceeding $4 billion. For additional information, visit www.crcrealty.com.