Damascus Shopping Center

Jones Lang LaSalle is pleased to present the opportunity to acquire Damascus Shopping Center - a 143,631 square foot shopping center in Damascus, MD. The Property is anchored by a high-performing Safeway which represents 38% of rental revenue and has 8+ years of remaining term. The Property is leased to an exceptional tenant mix with 77% of the Property’s GLA and 71% of rental revenue derived from national tenants. The Property has a strong history of tenant retention with an average tenure of 14.2 years, and the 4 largest tenants have been at the Property since it was redeveloped from 2008-2012.

Located at the northern tip of Montgomery County - one of the nation’s wealthiest counties - the Property is a community fixture, serving as the premier shopping center with 2.4 million annual visits which ranks in the 84th percentile among neighborhood centers nationally.

Currently 86% leased, Damascus Shopping Center offers future ownership immediate upside via lease-up of 18,563 square feet across 5 suites and 29,571 square feet of shop space with below-market rents. Additionally, two creditworthy single-tenant pad sites leased to McDonald’s on a ground lease and Dunkin’ Donuts / Baskin Robins offer accretive spin-off opportunities.