KLNB secures sale of Marlboro Square shopping center

Daily Record Staff//January 11, 2023//

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Anchored by a freestanding 37,981-square-foot Weis supermarket, the 19-unit Marlboro Square shopping center is 100% leased with a mix of retail tenants that are suited for the surrounding neighborhood demographics. (File photo)

KLNB on Wednesday announced the $10.8 million sale of Marlboro Square at 5715 Crain Highway in Upper Marlboro.

The KLNB Retail Investment Sales Group of Vito Lupo, Chris Burnham, Andy Stape and Jake Furnary exclusively represented the seller, Marlboro Investors LLC in the transaction of the 92,649-square-foot shopping center. Renaud Consulting represented the purchaser.

Anchored by a freestanding 37,981-square-foot Weis supermarket, the 19-unit property is 100% leased with a mix of retail tenants that are suited for the surrounding neighborhood demographics. These tenants include junior anchors Advanced Auto and Dollar Tree, and a variety of brands that encompass fitness, personal health care, food and beverage and eye care. In addition, there is approximately 10,800-square-feet of vacant land directly adjacent to Weis providing additional development potential.

Despite a lending environment that continues to present challenges, and Weis’ relatively short remaining lease term, KLNB’s Retail Investment Sales Group secured seven first-round offers, leading to a competitive bidding environment for the seller.

This is the second transaction KLNB has facilitated for ownership. Partnering with clients on successive transactions is a common occurrence for the KLNB Investment Sales Group and is a testament to the professionalism and unmatched knowledge of the team.

Marlboro Square is in the county seat of Prince George’s County and 11 miles from Washington. The property is positioned along Crain Highway and with direct access from Pennsylvania Avenue.