7090 Deepage Dr - Freestanding FOR SALE


Columbia, MD 21045- Owen Brown
$11,333,718 USD
202-536-3783
7090 Deepage Dr, Columbia, MD for Sale
$11,333,718 USD
Freestanding - FOR SALE
1/3
null | 6.25% Cap Rate

7090 Deepage Dr
Columbia, MD 21045
Owen Brown


HIGHLIGHTS

  • 12,137 SF - 100% Occupied
  • Anchored by Starbucks – 19+ Years of Occupancy and a Recent 10-Year Lease Extension
  • Near 2% Compound Annual Growth Rate in Rent (CAGR)
  • 5+ Year Weighted Average Lease Term Remaining (WALT)

OVERVIEW

Anchored by Starbucks since 2006 The Property recently underwent a $2 million capital improvement project that included a building expansion, new façades, roofing, site and landscaping upgrades, and complete tenant build-outs. As part of the renovation, Starbucks relocated to the end-cap to allow for a drive-thru lane, and executed a 10-year lease extension, further reinforcing its long-term commitment to the location. Starbucks is joined by Crimson Coward, a rapidly expanding hot-chicken concept from California, which selected Snowden Crossing for its first Maryland location, and Charm City Run, a regional running and walking specialty company with seven locations around Maryland and Delaware. The center’s largest tenant, Curaleaf, a leading national cannabis operator, is well positioned to benefit from Maryland’s legalization of recreational cannabis. Curaleaf’s sales were $7.6 million in the past 12 months, up 242% since the state of Maryland legalized cannabis for recreational use. Positioned in the Heart of Columbia Situated in the heart of Columbia, Snowden Crossing enjoys a high-barrier-to-entry location within one of the most successful master-planned communities in the country. The Columbia South submarket has historically maintained exceptionally high occupancy rates, due in part to the arduous commercial planning and zoning requirements in the master-planned community. The Property benefits from excellent regional accessibility, positioned just off Interstate-95, between Route 32 (Patuxent Freeway) and Route 175 (Rouse Parkway), providing easy access throughout the greater Howard County trade area. Columbia is strategically located in Howard County —the 6th wealthiest county in the United States, midway between Washington, D.C. and Baltimore. It offers residents convenient access to both metropolitan job centers and allows local employers to draw from a highly educated, dual-market workforce. The area also benefits from proximity to several major regional employers in high-growth sectors, including Fort Meade 11 miles east—Maryland’s largest employer and home to the National Security Agency and U.S. Cyber Command.

FOR SALE DETAILS

PRICE

$11,333,718 USD

PRICE/SF

$934 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Snowden Crossing

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Fast Food, Restaurant, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1977

SPRINKLERS

-

PARKING SPACES

93

LAND DETAILS

LAND ACRES

1.75 AC

LAND SF

76,274 SF

ZONING

NT, Columbia

APN/PARCEL ID

16-108030

ASK ABOUT THIS PROPERTY

David CrottsInstitutional Property AdvisorsMore Info
202-536-3783

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

David CrottsInstitutional Property AdvisorsMore Info
202-536-3783

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.