MacKenzie Commercial and Equity Retail Selected as Exclusive Sales Brokers for South End Shopping Center
150,000 square foot shopping center in Hagerstown, Maryland is presently 97% leased
MacKenzie Commercial Real Estate Services, LLC and Equity Retail Brokers has been selected by Coastal Equities as the exclusive sales brokers for South End Shopping Center a 150,000 square foot shopping center in Hagerstown, Maryland which is currently 97% leased. The asking price for the asset is $15 million and all offers are due by March 18. John Schultz and Timothy Harrington of MacKenzie Commercial Real Estate Services and Edward Ginn and Kenneth Yanni of Equity Retail Brokers are handling the requirement.
Anchored by Planet Fitness, Save-A-Lot, Goodwill Industries, Jo-Ann Fabrics, and Dollar General, South End Shopping Center is located at 1101-1181 Maryland Avenue and situated on a nearly 12-acre lot with more than 450 surface parking spaces. The asset fronts MD Route 632 and more than 12,000 vehicles pass the site on a daily basis. South End Shopping Center was constructed in 1966 and renovated in 2021, with a new building recently ground leased to Fulton Bank, which opened earlier this year.
Both MacKenzie Commercial Real Estate Services, based in Lutherville, Maryland and Equity Retail Brokers, located in Plymouth Meeting, Pennsylvania, are full-service commercial real estate services firms. Coast Equities, headquartered in Westin, Florida, is a commercial real estate development and management company focusing on neighborhood and community shopping centers.
“South End Shopping Center is a stabilized and well-maintained asset featuring several high-performing national tenants, which has created an extremely loyal consumer following in its submarket,” explained John Schultz of MacKenzie Commercial Real Estate Services. “Given the scarcity of value-add retail centers available for sale, we expect to generate tremendous interest from multiple investment groups and commercial real estate owners.”
MacKenzie Commercial Real Estate Services is the real estate brokerage arm of The MacKenzie Companies, which operates six full-service divisions addressing all real estate asset classes including MacKenzie Management Company, LLC, MacKenzie Contracting Company, LLC, MacKenzie Capital, LLC, MacKenzie Investment Group and Datastory Consulting. The company provides customized real estate solutions for institutional owners, investors, private companies and individuals. For additional information, visit www.mackenziecommercial.com