January 31, 2023 – Kyle Danielson and Matt Nadler of Horvath & Tremblay have successfully completed the sale of the Lexington Village Pad Sites in Lexington Park, Maryland. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $3,720,000.
The Lexington Village Pad Sites are located at 46320 Lexington Village Way in Lexington Park, Maryland. The Property was constructed in 2014 and 2016 and consists of a free-standing single tenant Sonic ground lease and a 4,850 square foot inline strip center leased to T-Mobile, Jimmy John’s, and Educational Systems Federal Credit Union. Sonic has a long-term ground lease and the remainder of the tenants have net leases providing protection against inflation, and three of the four tenants have scheduled rent increases in either their primary lease terms or renewal options. The Pad Sites are shadow anchored by Lexington Village (not part of the offering), which is home to Kohl’s, Dick’s Sporting Goods, Buffalo Wild Wings, Noodles & Company, Mattress Firm, and several local tenants. Lexington Village is situated at the signalized intersection of Three Notch Road (MD Route 235) and Buck Hewitt Road and also at the intersection of Three Notch Road and Lexington Village Way. The Property has outstanding visibility, frontage, and access along all three roads, is positioned in the heart of the area’s primary commercial district and is just minutes from the Naval Air Station Patuxent River.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.