Overview
KLNB Retail Capital Markets is pleased to exclusively offer for sale the fee simple interest in The Commons Shops, a 45,909 SF premier retail center strategically positioned within “The Commons” — a dominant 233,292 SF power center anchored by Target, ALDI, DICK’S Sporting Goods, T.J. Maxx, Michaels, Five Below, and other national retailers. The Commons Shops is currently 92% leased, featuring a strong roster of national and credit tenants, including Dollar Tree, Jersey Mike’s, and Hair Cuttery, each ranking in the top percentile for foot traffic statewide and nationally, per Placer.Ai. Located in a growing industrial and logistics corridor, Martinsburg attracts major distribution and manufacturing investment. With 138,000 residents within a 20-minute drive and minimal retail competition, The Commons Shops offers strong rental upside and long-term value. This is a rare opportunity to acquire a high-performing, institutionally leased and managed retail asset in a submarket primed for continued growth and tenant demand.
Investment Highlights
- The Commons Shops is 92.15% leased to nationally recognized and credit-rated retailers, which collectively occupy 89% of the gross leasable area, underscoring the center’s appeal to high-performing retail brands.
- Upside offered through the lease up but also the ability to take advantage of a mark to market campaign with 21.5% of the GLA having in-place below market rent
- Strategically integrated into a larger regional shopping hub, The Commons, which provides shadow anchors from some top retail leaders including Target, Aldi, DICK’s Sporting Goods, Ulta Beauty, Five Below, Michaels, T.J. Maxx, Old Navy, PetSmart and Best Buy, providing built-in cross-shopping and destination appeal.
- The Commons Shops stands as the only credit-anchored retail strip center within the Town of Martinsburg, making it a highly attractive location for tenants seeking market entry or expansion.
- The Center offers unrivaled visibility from I-81, the dominant regional highway serving the Eastern Panhandle and greater Mid-Atlantic corridor, with traffic volumes exceeding 61,000 vehicles per day.
- Martinsburg sits along one of the fastest-growing industrial corridors in the Mid-Atlantic, fueled by distribution and manufacturing activity along the I-81 spine.
- Dense consumer base of 138,000 residents within a 20-minute drive which expands the catchment area and supports year-round visitation
Demographics
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