SRS Real Estate Partners Closes $10.825M Waldorf Park Retail Center Sale, Completing $20M Break-Up Strategy

SRS Real Estate Partners has closed the $10.825 million sale of in-line retail shops at Waldorf Park, located at 3716 Crain Highway in Waldorf, Maryland, marking the final disposition in a structured three-asset monetization strategy that generated approximately $20 million in aggregate proceeds for seller Republic Land Development.

The buyer, a Maryland-based private investor, was represented by Matthew Antonis of Friend Commercial Real Estate. The deal was brokered on the seller's behalf by Andrew Fallon, Executive Vice President and Managing Principal at SRS Capital Markets, and Philip Wellde Jr., First Vice President at SRS Capital Markets.

Waldorf Park Retail Real Estate Transaction Details

The in-line retail building, built in 2022, spans 22,425 square feet on 2.03 acres and was 93% occupied at the time of closing by 12 tenants, including Comprehensive Primary Care, Club Pilates, and Naz's Halal Food. At $10.825 million, the transaction reflects a price of approximately $483 per square foot.

"This transaction completes the third and final disposition in a structured three-asset monetization strategy for Waldorf Park, led by the SRS team on behalf of the seller. The 36,000-square-foot asset commanded an aggregate valuation of approximately $20 million, while the individual asset sale strategy achieved the most aggressive pricing for each portion of the property," said Wellde.

"We consulted and advised on the sale of all three project components including the Chick-fil-A ground lease, the Starbucks-anchored strip center, and the larger in-line retail building. The breakup and individual asset sale strategy allowed us to maximize proceeds and successfully execute on a total project disposition over the course of a 24-month period," said Fallon.

Three-Asset Break-Up Strategy

The Waldorf Park disposition unfolded over 24 months and encompassed three separately marketed components of the approximately 36,000-square-foot retail center: a Chick-fil-A ground lease parcel, a Starbucks-anchored strip center, and the in-line retail building that closed in this final transaction. According to SRS, selling each asset individually — rather than as a single portfolio — allowed the team to target distinct buyer profiles and achieve more competitive pricing for each component.

Waldorf, Maryland Retail Real Estate Market Context

Waldorf Park is situated at the signalized intersection of Robert S. Crain Highway (U.S. Route 301) and Smallwood Drive, approximately 25 miles south of Washington, D.C. The property is located one-half mile from Kaiser Permanente's new $100 million medical facility and is adjacent to St. Charles Towne Center, a 1.1-million-square-foot regional mall currently anchored by Dick's Sporting Goods, which is slated to add a sports and wellness complex.

Waldorf has recorded population growth of 10.61% since 2020. SRS Real Estate Partners has been active in the Waldorf market, having previously brokered the sale of a BJ's Wholesale Club in the area. The firm is also under contract on a McDonald's ground lease sale at the Shops at Fairway Village, a 35-acre mixed-use development anchored by a Weis Markets grocery store that also includes a residential component.

About SRS Real Estate Partners

Founded in 1986, SRS Real Estate Partners is headquartered in Dallas and operates 29 offices nationwide. The firm provides commercial real estate services across retail, industrial, and capital markets. The Waldorf Park closing comes as the firm marks its 40th year in operation.