Transaction is final sale in a $20 million break-up strategy for the retail center
SRS Real Estate Partners is pleased to announce the $10.825 million sale of in-line shops at Waldorf Park, located at 3716 Crain Highway in Waldorf, Maryland. Built in 2022, the 22,425-square-foot (sf) property is situated on 2.03 acres and is 93% occupied by 12 tenants, including Comprehensive Primary Care, Club Pilates, and Naz’s Halal Food.
SRS Capital Markets Executive Vice President & Managing Principal Andrew Fallon and First Vice President Philip Wellde Jr. represented the seller, Republic Land Development. The buyer, a Maryland-based private investor, was represented by Matthew Antonis of Friend Commercial Real Estate.
“This transaction completes the third and final disposition in a structured three-asset monetization strategy for Waldorf Park, led by the SRS team on behalf of the seller. The 36,000-square-foot asset commanded an aggregate valuation of approximately $20 million, while the individual asset sale strategy achieved the most aggressive pricing for each portion of the property,” said Wellde.
“We consulted and advised on the sale of all three project components including the Chick-fil-A ground lease, the Starbucks-anchored strip center, and the larger in-line retail building. The breakup and individual asset sale strategy allowed us to maximize proceeds and successfully execute on a total project disposition over the course of a 24-month period,” said Fallon.
Waldorf Park is strategically positioned at the signalized intersection of Robert S. Crain Highway U.S. Route 301 and Smallwood Drive and is located one-half mile from Kaiser Permanente’s new $100 million medical facility. It is also adjacent to St. Charles Towne Center which features 1.1 million sf of retail space. The center is currently anchored by Dick’s Sporting Goods and will soon feature a state-of-the-art sports and wellness complex.
Waldorf is a growing suburb 25 miles south of Washington D.C. It’s a fast-developing D.C. hub with population growth totaling 10.61% since 2020. SRS has sold multiple properties in the area including BJ’s Wholesale Club and is under contract on a new McDonald’s ground lease sale in the new Shops at Fairway Village, a 35-acre mixed-use site with a Weis Markets grocer-anchored retail center and residential.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is celebrating 40 years of going the extra mile for its clients. A leader in consumer-driven real estate, SRS provides commercial real estate solutions across retail, industrial, and capital markets. Headquartered in Dallas with 29 offices nationwide, the firm measures its success by the achievement of its clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.