Foxshire Plaza

Jones Lang LaSalle, as exclusive advisor, is pleased to present the acquisition opportunity for Foxshire Plaza—a 47,410 SF un-anchored shopping center in Hagerstown, Maryland. Foxshire Plaza serves a densely populated trade area with over 103,000 residents within a 5-mile radius. Within the immediate 2-mile boundary, the center benefits from major demand drivers including Meritus Health Center, Hagerstown Community College, and several multifamily developments. Additionally, the center is strategically positioned along Route 40, Hagerstown’s busiest commercial corridor, providing access to over 58K vehicles per day.

The tenant roster features a diverse mix of uses, with service tenants representing 23% of revenue and providing ecommerce-resistant demand. National credit tenants such as Dollar Tree and First Cash Pawn Brokers account for nearly 40% of rent. No single tenant represents more than 21% of rental revenue, reducing rollover risk. Seven new tenants have been signed over the past four years, confirming strong market demand and validating the center’s appeal. A Dunkin’ Donuts/Baskin-Robbins drive-through pad site presents a potential spin-off opportunity to achieve cap rate compression.

Foxshire Plaza represents an opportunity to acquire an un-anchored asset in a high-demand location with strong fundamentals and a clear value enhancement lever.