The Commons

Jones Lang LaSalle, as exclusive advisor, is pleased to present the opportunity to acquire The Commons – a dual grocery-anchored 279,201 square foot power center with an outstanding anchor lineup including: Dick’s, Best Buy, Aldi, TJ Maxx, Old Navy, PetSmart, Michaels and Target (shadow anchor). Located 75 miles northwest of Washington, DC, The Commons is the dominant shopping center in the market and benefits from its placement in between the distribution hubs of Hagerstown, MD, Frederick, MD, and Winchester, VA, enabling a regional customer draw from a wide trade area. With an outstanding location on the burgeoning I-81 Corridor (63,000 VPD) and within the rapidly growing Martinsburg, West Virginia submarket, The Commons also benefits from a surging surrounding development pipeline, including 3M of Industrial SF to be delivered by 2027. Currently 98.9% leased, The Commons combines cash flow stability with an opportunity to add value by marking below market leases to market. Within the next 10 years, 20% of GLA will be expiring without options at rents 36% below market. Tenants with a complete year of recent sales data have an excellent 6.4% weighted average health ratio. With tenants performing exceptionally well, further complemented by favorable population, job, and income growth, The Commons has fortified its position as the market leading asset with minimal competition and significant further potential for rent growth.