KLNB has arranged the sale of Crestview Square, a value-add neighborhood shopping center in Landover Hills, Maryland. The 74,694-square-foot retail property is located at 6611 Annapolis Road within the Annapolis Road retail corridor, approximately two miles from the Washington, D.C. line.
KLNB’s Retail Capital Markets team, led by Chris Burnham and Vito Lupo, represented the seller in the transaction and also sourced the buyer, SK Property Management. The dual role underscores KLNB’s involvement on both sides of the deal, from marketing the asset to identifying and securing the new owner.
Crestview Square is anchored by national destination retailer Value Village, providing a key traffic driver for the center. Additional tenants include T-Mobile, 7-Eleven, Pizza Hut, and Subway, reflecting a mix of daily-needs and service-oriented retailers. The property benefits from an average tenant tenure of 18 years, indicating a long-standing and stable tenant base.
The center is currently 84% leased, leaving an 8,500-square-foot vacancy that offers immediate upside potential for SK Property Management. This vacancy supports the value-add positioning of the asset, giving the new owner an opportunity to increase income through lease-up.
According to KLNB, a lack of available retail space in the surrounding area contributed to strong competition among investors for Crestview Square. The tight supply environment within the Annapolis Road corridor helped differentiate the asset, particularly given the limited number of value-add opportunities trading in this location.
Burnham described Crestview Square as a strong investment opportunity, noting that the combination of constrained transaction velocity in the corridor and minimal comparable value-add offerings made the property stand out to investors. Those dynamics, together with the center’s established tenancy and proximity to the Washington, D.C. border, framed the acquisition as a targeted play on both stability and future leasing upside for the buyer.
