facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Maryland

/

Retail

/

Lease

/

17850 Garland Groh Boulevard

Crunch Hagerstown Leases 30,973 SF Retail Space At Centre, Hagerstown
LEASEDRetail

Crunch Hagerstown Leases 30,973 SF Retail Space At Centre, Hagerstown

17850 Garland Groh Boulevard

Building Size

30,973 SF

Asset Type

Retail

Closing

Apr 26, 2024

AI

The retail property at 17850 Garland Groh Boulevard in Hagerstown, MD, spanning 30,973 square feet, has been leased to Crunch Hagerstown, a fitness concept operating under the Crunch Fitness franchise. The lease agreement was facilitated at the Centre at Hagerstown, enhancing the regional shopping center's occupancy to 97 percent.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 17850 Garland Groh Boulevard
  • Market: Hagerstown, MD
  • Landlord: Kristina O’Keefe & Melissa Sweeney - Continental Realty Corporation
  • Tenant: Crunch Hagerstown
  • Brokers: Ryan Wilner, Matt Copeland & Michael L. Patz - KLNB Retail

The lease secured by Crunch Hagerstown marks a significant agreement that brings a new fitness offering to the regional shopping center, filling the previous Bed Bath and Beyond space. The deal highlights the proactive approach taken by both the landlord, Kristina O’Keefe & Melissa Sweeney of Continental Realty Corporation, and the tenant, Crunch Hagerstown, in aligning on mutually beneficial terms, contributing to the continued success and vibrancy of the Centre at Hagerstown.

Players

Matt Copeland

Broker

$1.9M

vol

3 deals

Broker

Hagerstown Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93