PINEFIEL S O U T H
INVESTMENT HIGHLIGHTS ISCOUNT RETAIL ANCHORE CENTER 71,465 square foot retail center that is fully leased, including discount retailers ollar General and Value Village Thrift, and located directly off of Crain Highway, the main thoroughfare in Waldorf, Maryland IVERSIFIE TENANT MIX The property boasts a variety of retailers which encompass uses such as discount retail, medical, fast casual food options, financial services and child care facilities, which are all inherently resistant to internet related pressures on the retail environment and cater directly to the daily needs of the future residents of Waldorf Station PREMIER VISIBILITY AN ACCESSIBILITY The property is strategically located right off of Crain Highway (Route 301), the prominent local thoroughfare for the market, which sees 59,000 vehicles each day. Additionally the asset offers three points of ingress and egress along with great visibility from a signalized intersection
INVESTMENT HIGHLIGHTS AFFLUENT EMOGRAPHIC POPULATION The asset is surrounded by affluent consumers with an average household income in excess of $101,700 and $105,400 within three and five miles of the asset respectively. Additionally, the immediate population is set to grow with the development of Waldorf Station, which will add 800 residential units directly adjacent to the property. GOO FUNAMENTAL REAL ESTATE The stabilized property achieves a compound annual growth rate of 3.39% due to favorable contractual lease escalations and the opportunity to push rents upon rollover. Additionally, the location is ideal for morning commuters heading to C TOTAL SQUARE FEET 71,465 SF CAGR 3.39% CRAIN HIGHWAY (ROUTE 301) 59,000 VP INGRESS + EGRESS 3 POINTS 3 MILE RAIUS AHHI $101,700 5 MILE RAIUS AHHI $105,400
EXECUTIVE SUMMARY Newmark Knight Frank s Retail Capital Markets Group has been exclusively retained to sell Pinefield South Shopping Center, a 71,465 square foot discount-anchored neighborhood center located directly off of Crain Highway in Waldorf, Maryland. The Fully leased center provides investors with strong cash flow, an ideal tenant mix, and fundamentally sound real estate that benefits from direct access to Route 301 (Crain Highway). Pinefield South Shopping Center is home to a diverse tenant roster that is anchored by discount-retailers ollar General and Value Village Thrift Stores, which are complemented nicely by a robust mix of medical, financial and beauty tenants. The roster construction creates favorable retail synergies that result in an asset with tenants that are inherently internet resistant due to the service-oriented nature of their use. The asset will be offered free and clear of existing debt, allowing investors the opportunity to acquire a fully stabilized asset in a developing market that will be growing considerably in the coming years.
EXECUTIVE SUMMARY The property is surrounded by an affluent consumer base that boasts average household incomes over $101,000 and $105,000 within the surrounding 3 and 5-mile radius respectively. Additionally, the asset benefits from its strategic location along Route 301, which yields exposure to 59,000 vehicles each day and is the main thoroughfare for the submarket. The shopping center serves as an ideal commuter destination in the morning as local residents travel north towards Washington C (23 miles away) daily. The center is home to a Krispy Kreme pad that is ideal for morning pit stops and is complemented nicely by a neighboring fueling station. ON A AILY BASIS IN CHARLES COUNTY 60% ARE COMMUTERS A MAJORITY OF THOSE AILY COMMUTERS PASS PINEFIEL SOUTH
5 STEPHENS CROSSING RETAIL LANSCAPE FUTURE EVELOPMENT 1,295 RESIENTIAL UNITS BRANYWINE CROSSING VILLAGES AT TIMOTHY BRANCH N R YSO FUTURE EVELOPMENT 1,200 RESIENTIAL UNITS 373 ACCO K PINEFIEL 301 EEK R S CAILLAC CROSSING SHOPS AT WALORF WALORF STATION FUTURE EVELOPMENT YR G A WALORF MARKETPLACE R E N R 301 IN G 5 W A SH CR AI TO N ST. CHARLES TOWNE CENTER N H W R Y 228 L RR 500,000 SF OF COMMERCIAL 800 RESIENTIAL UNITS O BE 925 SM A LL W O CHARLES COUNTY PLAZA WALORF SHOPPERS WORL O R PO PL AR HIL LR O U T H
AERIAL MAP WALORF MARKETPLACE THE SHOPS AT WALORF CENTER WALORF STATION -100 TOWNHOMES -135,000 SF OF RETAIL - 430 APARTMENTS WALORF FAMILY THRIFT STORE CRAIN HIGHWAY 59,000 VP NAP
SITE PLAN MATTAWOMAN/BEANTOWN ROA NAP US Fuels NAP Leftys BBQ Invictus Cigars Vape Jungle Shark Bar and Seafood Waldorf Family Thrift Store 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 18 Lorraine Anderson Salon Lendmark Financial Services The Mane Floor Hair Studio Jose Guzman Imaginations Early Learning Gittleson, S Imaginations Early Learning Mega Nails Pinefield Massage Therapy Healing Place 16 Hanson Pharmacy 17 301 CRAIN HIGHWAY 59,000 VP TENANT LIST 1. Lefty's BBQ 5,400 7. The Mane Floor Hair Studio 1,500 13. Pinefield Massage Therapy 1,500 2. Invictus Cigars 1,600 8. Jose Guzman 1,740 14. Waldorf Family Thrift Store 19,834 3. Vape Jungle, LLC 1,600 9. Imaginations Early Learning 4,260 15. Healing Place 9,916 4. ollar General 9,815 10. Gittleson, S 1,500 16. Hanson Pharmacy 1,500 5. Lorraine Anderson Salon 1,500 11. Imaginations Early Learning - 17. Subway 1,200 6. Lendmark Financial Services 1,500 12. Mega Nails 1,500 18. Shark Bar and Seafood 5,600
M A R Y L A N CHESAPEAKE BAY ROCKVILLE STERLING WHEATON FROM IA IA RESTON MCLEAN BETHESA ISTRICT OF COLUMBIA SILVER SPRING GREENBELT BOWIE ANNAPOLIS ARLINGTON ISTRICT HEIGHTS V I R G I N I A ANNAALE ALEXANRIA CA SPRINGFIEL CLINTON 5 ANREWS AIR FORCE BASE WOOBRIGE FORT BELVOIR FORT WASHINGTON PINEFIEL S O U T H WWALORF ST CHARLES 231 GEOFFREY MILLER Executive Managing irector (617) 863.8615 gmillerd@ngkf.com MATHEW ALER Managing irector (202) 664.5912 mat.adler@ngkf.com CHRISTIAN BRANNELLY Senior Financial Analyst (617) 863.8548 234 cbrannelly@ngkf.com CHRIS HUESGEN Financial 235 Analyst (202) 664.5909 chris.huesgen@ngkf.com FINANCING INFO JOE ONATO Vice Chairman (202) 312.5787 jdonato@ngkf.com