Overview
KLNB Retail Capital Markets, as exclusive advisor, is pleased to present the Dogwood Station— an 84,913 SF value add opportunity neighborhood center spanning 2 freestanding multitenant buildings and one single tenant pad site located in the mature Woodlawn submarket of Baltimore County, Maryland. The property benefits from a 5.3-year WALT, an average tenant tenure of 18.7 years, and a heavy credit profile with 37.1% of base rent driven by national and regional tenants. Situated at the signalized intersection of Dogwood Road and N. Rolling Road with 26,566 VPD the center is surrounded by 97,088 residents within 3 miles with an average household income of $98,724. Dogwood Station offers investors a rare opportunity to acquire a stabilized neighborhood shopping center with a seasoned rent roll that has tremendous upside from leasing the current 34% in-place vacancy.
Investment Highlights
- Neighborhood shopping center with a rare compelling value-add opportunity; 66% occupied offering significant upside through an active leasing and management campaign
- Recent leasing momentum with pad site at lease for 20 years with Tim Hortons, recent inline suite of 1,125 at lease and Dollar Tree extending their lease early for 7 years
- The average length of occupancy across the rent roll is at an impressive 18.7 years with seven tenants having maintained occupancy for over 10 years, five for over 20 years and five for over 30 years
- High performing Family Dollar; tenant reports sales above national average and according to Placer.ai, is in the 94th percentile statewide
- Dogwood Station’s tenant roster reflects a well-curated mix of local, regional, and national operators uniquely suited to the surrounding neighborhood dynamic.
- The Woodlawn submarket offers one of the densest residential trade areas in Baltimore County, with 97,088 residents within a 3-mile radius and an average household income of $98,724
Demographics
Photo Gallery
