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5820 Ballenger Creek PikeFrederick, MD 21703
Ballenger Creek Plaza
Asset ClassRetail
Rentable SF75,605
Occupancy: 100%Access Data Room
Neighborhood Retail Center Anchored by Urban Air Adventure Park
overview of deal

Overview

KLNB Retail Capital Markets is pleased to present for sale the fee simple interest in Ballenger Creek Plaza, a 75,605 SF neighborhood shopping center in Frederick, Maryland. The 100% occupied retail center is leased to 13 tenants and anchored by Urban Air Adventure Park with term through May-2031. Urban Air occupies 54% of the GLA while comprising 34% of the base rent with two remaining scheduled rent increases in their primary term, and in each of their two remaining option periods. Complimenting Urban Air is a reliable line-up of local and national retailers including Dollar General, in occupancy since 2014, and Celebree School, in occupancy since 1998. The center benefits from very limited near-term rollover risk, a staggered rollover schedule, and weighted average lease term remaining of 5.9 years

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Investment Highlights

- High performing Urban Air anchored retail center with junior anchors Dollar General and Celebree School

- Attractive cash flow growth with scheduled rent increases and net recovery structures

- Lengthy average tenure of 12+ years and WALT of 5.9 years

- Well maintained with full roof replacements in 2018-2022, each under warranty

- Positioned in extraordinarily dense residential submarket with 14,577 residents in a 1-mile radius

- Located in Frederick County, one of the fastest growing counties in Maryland with a 31% population growth since 2010

Top Caliber Demographics

1-Mile
3-Mile
5-Mile
Population
14,577
76,983
118,850
Avg HH Income
$120,882
$113,714
$125,479
Median Age
36.7
38.1
39.5
Annual Population Growth
0.89%
1.39%
1.66%
Population Growth Since 2010
34.31%
31.01%
27.93%
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5820 Ballenger Creek PikeFrederick, MD 21703
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Listing provided by Revere CRE