Village Square Shopping Center

Jones Lang LaSalle, as exclusive advisor, is pleased to present the acquisition opportunity for Village Square — a 52,961 SF grocery-anchored shopping center in Smithsburg, Maryland, less than 20 minutes from Hagerstown. Anchored by Martin's, the #1 grocery chain in Washington County, the center benefits from a proven anchor tenant with over 30 years of continuous occupancy and a recent execution of a renewal option. This location generates $16.6M in annual sales ($491 PSF) with a strong 1.3% health ratio. The center features an institutional-quality tenant roster, with over 85% of rental revenue derived from national retailers including Martin's, Walgreens, Domino's, and Dunkin'. Walgreens demonstrates exceptional performance with sales exceeding $1,000 PSF and a sub-1% health ratio, while Domino's ranks as the #1 location within a 15-mile radius, securing its position as a prime destination within the center. Strategically positioned on Jefferson Road, the main connector between Smithsburg and Hagerstown, the property benefits from excellent visibility and serves an underserved trade area with limited competing grocery-anchored retail options.

The investment presents a compelling value-creation opportunity through below-market rents offering significant mark-to-market potential. The center's two largest tenants, Martin's and Walgreens, currently have in-place rents over 30% below market rates, positioning a future investor to capture substantial rent growth. Village Square represents a rare opportunity to acquire a stabilized, grocery-anchored asset with a best-in-class anchor tenant, national credit tenancy demonstrating strong sales performance, and a clear pathway for income enhancement in an undersupplied market.