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6611-6674 Annapolis RoadLandover Hills, MD 20784
Crestview Square
Asset ClassRetail
Occupancy84%
Square Feet: 74,694MSA: DCYear Renovated: 2014Access Data Room
Compelling Value Add Opportunity Within a Dense Retail Corridor of Annapolis Road
overview of deal

Overview

KLNB Retail Capital Markets is pleased to present the opportunity to acquire Crestview Square – a 74,694 square foot, value-add neighborhood center located in the dense Annapolis Road Retail Corridor. Positioned just 2 miles from the Washington DC line, Crestview Square benefits from immediate access to the nation’s capital and the densely populated innerbeltway communities enabling a wide regional customer draw. The center is anchored by Value Village, a national destination retailer, and enjoys 785 feet of frontage with prominent pylon signage along Annapolis Road, providing high visibility and outstanding connectivity. Crestview Square is currently 84% leased, with a tenant roster highlighted by nationally recognized and creditworthy operators including Value Village, T-Mobile, 7-Eleven, and Subway. Offering near-term upside, the property presents a compelling value-add opportunity through the lease-up of an 8,500 SF vacancy as well as the potential to create additional value through future pad spin-offs. With favorable regional demographics, an average tenant tenure of 18 years, and a proven history of community-focused tenancy, Crestview Square offers investors the rare opportunity to acquire a long-established retail center in a high-barrier, high-demand corridor of suburban Washington, DC.

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Investment Highlights

  • Value-add neighborhood retail opportunity; 84% in place occupancy
  • Anchored by Value Village, a subsidiary of Savers, which has over 315 locations Nationally
  • Strong rent roll with national and regional tenants, including Value Village, 7-Eleven, T-Mobile, H&R Block, Subway, Pizza Hut, and Rent- A-Center, supported by strong local operators such as American Best Wings, Adventure Dental, Luna Nails, and Crestview Wine & Spirits
  • Long tenant history and success, 18 years of average occupancy at the center
  • Well positioned in the larger submarket and along Annapolis Road; surrounded by a dense retail corridor seeing 36,000+ vehicles per day
  • Attractive neighborhood demographics: 25,151 residents within a mile radius with an average household Income of $123,409 which is projected to increase 2.31% annually through 2030

Table Information

1 Mile
3 Mile
5 Mile
Total Population
25,151
153,820
445,463
AVG Household Income
$110,095
$109,525
$111,196
AVG Household Income Growth
2.31%
2.08%
2.04%
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6611-6674 Annapolis RoadLandover Hills, MD 20784

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