Waldorf Park, a prime new retail development in Waldorf, Maryland, broke ground on Tuesday, June 23, according to The Republic Family of Companies, the project’s developer. The center is slated to open to the public in the first half of 2021.
Leading Mid-Atlantic commercial real estate brokerage firm KLNB has been retained for retail leasing of the property. KLNB Principals Ryan Minnehan and Phil Ruxton, and Retail Specialist Alex Shearer, represent the landlord.
Leading tenants that have signed leases at Waldorf Park include Starbucks, Chick-fil-A, and Jersey Mike’s. KLNB Principals Dimitri Georgelakos and Bob Morris represented Chick-fil-A, and Retail Specialist Michael Ginsburg represented Jersey Mike’s.
“We are thrilled to be bringing Waldorf’s second Chick-fil-A to market, its only Starbucks with a drive-through, and its first Jersey Mike’s. Charles County has been one of the fastest growing counties in Maryland for several years running, and Waldorf Park is strategically placed right in the center of that growth,” said Stacy Hornstein, Senior Vice President at Republic.
“Waldorf Park is an excellent opportunity for retailers looking for brand-new space in a busy corridor,” said Minnehan. “All parties involved are confident this new project will bring attractive and desirable retail services to the Charles County community.”
Construction financing is being provided by Sandy Spring Bank. “We are very proud to be working with Sandy Spring Bank, and appreciate their commitment to our project and their 152-year dedication to providing financing to the greater Baltimore-Washington area,” said Hornstein.
In the evolving retail industry, Waldorf Park focuses on convenience retail and seeks to benefit from Charles County’s strong retail fundamentals. “The benefits of convenience retail has been a trend that has been on-going for years: the retail customer of today is seeking convenience, and Waldorf Park has been designed to provide customers and tenants with just that,” said Nicolas Aragon, Vice President at Republic. “In addition, Charles County has one of the highest per-capita sales leakage of any county in Maryland, making it a prime opportunity for tenants,” said Aragon.
Located right off of Crain Highway (Rt. 301), Waldorf Park boasts high visibility (54,281 AADT), multiple easy access points, and a variety of square footage opportunities. Aside from the three new tenants KLNB has recently signed at Waldorf Park, there are several other national tenants in the immediate area including Target, Macy’s, Dicks Sporting Goods, Safeway, CVS, Walgreens, Carrabba’s, Olive Garden, Wawa, and more. The project is also located adjacent to the 1.0 million square foot St Charles Towne Center mall, and several other national tenants that anchor the immediate area.
