SRS Real Estate Partners announced that it recently completed the $6.275 million sale of The Shoppes at Waldorf Park, a Starbucks-anchored, multi-tenant retail property located at 3728 Robert S. Crain Highway in Waldorf, Maryland. Built in 2022 and situated on just over one-acre of land, the 8,485-square-foot (sf) four-tenant neighborhood retail center is home to a Starbucks drive-thru, Crumbl Cookies, Jersey Mike’s and Aspen Dental.
With the frontage along Crain Highway (Route 301) The Shoppes are the centerpiece of the larger 35,935-sf Waldorf Park shopping center that also includes a free-standing Chick-fil-A and additional retail shops. The new Waldorf Park is adjacent to St. Charles Towne Center, a one million-plus sf regional retail center. .
SRS’ Washington DC Capital Markets team, led by Andrew Fallon, Rick Fernandez, Ed Laycox and Philip Wellde Jr., facilitated the transaction and represented the seller, Republic Land Development. The buyer was a Maryland-based private family office, who bought the property with acquisition financing through TD Bank.
“Essential neighborhood retail continues to be a highly sought-after, vibrant property type. Buyers, both private and institutional, are attracted to these multi-tenant investment properties due to their strong tenancy, attractive lease structures, and quality locations. Based on the deal fundamentals, we were able to procure multiple offers resulting in a competitive bid and strong execution,” said Fallon.
“This property was attractive to the private family buyer as it offered minimal landlord responsibilities, credit tenants, and prime real estate directly on Crain Highway, the major commuter route and retail thoroughfare,” added Wellde.
The Washington DC SRS Capital Markets team delivered a series of standout sales for its clients in the Waldorf market. In addition to The Shoppes at Waldorf Park, SRS also sold the adjacent Chick-fil-A ground lease to a 1031 exchange buyer for $2.8 million. Both properties had been previously marketed before SRS took over the listing assignments and executed on the sales. Earlier this year, the team facilitated the sale of a 100,000-sf BJ’s Wholesale Club property in Waldorf for $24 million, bringing the combined value of assets sold by SRS in southern Maryland to approximately $34 million.
Year to date, SRS Capital Markets has completed approximately $1.5 billion in deal volume comprised of more than 415 transactions in 45 states. SRS currently has in excess of 660 properties actively on the market with a market value surpassing $3.2 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.