Saul Centers sells Belvedere Gardens shopping center

Saul Centers Inc., a Bethesda real estate investment trust, has sold the Belvedere Gardens shopping center in Baltimore for $3.9 million.

The 55,000-square-foot shopping center is located at 5800 Hillen Road and is anchored by a Family Dollar (NYSE: FDO) store. The center is 34 percent leased, Saul said in a statement. The buyer was not disclosed.

The sale price excludes closing costs. Saul (NYSE: BFS) expects to report a $3.5 million gain on the sale during the fourth quarter.

Saul operates and…