Crosspoint Shopping Center

17151 Cole Rd, Hagerstown, MD, 21740-8319, US

Description

Jones Lang LaSalle, serving as exclusive advisor, proudly presents the acquisition opportunity for Crosspoint Shopping Center—a 170,114 SF Target shadowed regional shopping destination in Hagerstown, Maryland. This center showcases an exceptional tenant lineup with 98% of the property occupied by national or regional retailers and distinguished junior box co-anchors including Ross, Ocean State Job Lot, DSW, Michaels, and Petco.

Attracting 3.1 million shoppers annually, Crosspoint Shopping Center has established itself as a dominant retail destination in the market due to its high-performing, diverse tenant mix and location in a regional retail destination adjacent to Valley Mall, a 917,100 SF mall serving the larger Western Maryland, Central Pennsylvania and Eastern West Virginia markets.

The center features compelling value creation opportunities via the Mark-to-Market opportunity with junior anchor DSW, a potential pad site development, and the opportunity to spin off existing out-parcel strip centers to achieve cap rate accretion. This strategic positioning allows investors to capitalize on both stable current income and future growth potential.

Crosspoint Shopping Center offers an exceptional opportunity to acquire a high performing regional shopping center with premium shadow anchors that drive significant foot traffic and provides multiple avenues for value enhancement.

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Attributes

Building area net

15,804 m²

Occupancy

100%

Land area net

12.53 ha

WAULT

5.1 years

Media

Investment Highlights

• Highly Trafficked Shadow Anchor Mix: Creates consistent customer flow driven by financially stable and high-performing neighboring retailers including Target, Bob's Discount Furniture, Kohl's, OneLife Fitness, and Valley Mall

• Value Creation Opportunities: Features Mark-to-Market opportunity with DSW, potential pad site development, and ability to subdivide and sell off multi-tenant strip centers at an accretive cap rate

• Solid Fundamentals in Regional Retail Destination: Strategically positioned adjacent to Interstate 81 (88K VPD), generating exceptional consumer traffic with 3.1 million annual visits, placing it in the top 12% of shopping centers nationwide

• Diverse Tenant Mix and Income Profile: Provides variety of e-commerce resistant consumer offerings, with no single tenant responsible for more than 12% of rental revenue

• Strong Leasing Momentum: Five new tenants were signed in the past 5 years