Valley Plaza. Picture courtesy of Klein Enterprises
Klein Enterprises has finalized the redevelopment of Valley Plaza, a 190,900-square-foot purchasing middle in Hagerstown, Md. The corporate bought the asset from Cedar Realty Belief in July, as a part of a $130 million portfolio transaction, in response to Industrial Observer. The acquisition included 9 grocery-anchored retail belongings throughout Maryland, Virginia and Pennsylvania.
The retail sector is experiencing a shift in how properties are utilized by clients, retailers and operators. With these adjustments occurring quickly, house owners should adapt their areas and determine the simplest methods to make use of their properties. Enhancements at Valley Plaza embody a revamped exterior, new signage on the pylons, a resurfaced parking zone and improved lighting.
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The retail middle hosts an array of tenants, together with McDonald’s, Mexicali Cantina, Roy Rogers, Tractor Provide and Interest Foyer, amongst others. The latter opened at Valley Plaza in September final yr, following the relocation from Wesel Boulevard.
As well as, Maryland’s first Boot Barn is about to open at Valley Plaza on the first of February this yr. Grocery Outlet, the grocery store chain’s first location within the state, opened on the location in the summertime of final yr.
Situated at 1701 Massey Blvd. in Hagerstown’s retail hall, Valley Plaza is lower than 2 miles from Interstate 81, offering quick access to the encircling Washington County. The purchasing middle sees an annual common every day visitors of 91,095 autos and serves 86,531 residents inside a 5-mile radius.
