Versa Real Estate Sells DC-Area Retail Center – Commercial Property Executive

January 13, 2023

 

Marlboro Square. Image courtesy of KLNB

Marlboro Investors LLC, an entity connected to Versa Real Estate, has sold Marlboro Square, a 92,649-square-foot, grocery-anchored shopping center in Upper Marlboro, Md., for $10.8 million. KLNB’s Chris Burnham, Vito Lupo, Jake Furnary and Andy Stape represented the seller, while Renaud Consulting negotiated on behalf of the buyer.

Anchored by a 37,981-square-foot Weis supermarket, the asset was 100 percent leased at the time of sale. The property’s tenant roster also features Dollar Tree, Advanced Auto Parts, Nipsey’s, KFC, America’s Best Wings, among others.

Completed in 1978, Marlboro Square encompasses 14 buildings spread across a 6.7-acre site, according to CommercialEdge data. The property also comprises approximately 10,800 square feet of vacant land, providing additional development potential.

The retail center is located at 5715 Crain Highway near the conjunction of Route 301 and Route 4, in an area here the traffic count can reach 31,871 vehicles per day. Marlboro Square is considered a central retail hub for the community, counting approximately 100,000 daily visitors.

In 2022, the retail environment started to rebound from the pandemic-induced difficulties, with transactions, openings and developments slowly increasing. However, the sector may face another challenge in 2023, caused by the rapid rise in inflation and interest rates.

 



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