Neuman Commercial Group, LLC today announced the sale of Hagerstown Shopping Center, a 124,000 square foot grocery anchored retail center in Hagerstown, Washington County, Maryland. The sale price was $13,200,000. Recently renovated, the center is 100% occupied by sixteen tenants including supermarket Aldi, Family Dollar, Mr. Tire, AutoZone, McCormick Paints, Super Shoe and Papa John’s. Gil Neuman of Neuman Commercial Group represented the seller, Bon Aviv Investments, and procured the buyer, a private family management office.

“Hagerstown Shopping Center sees steady high traffic and has historically remained fully occupied,” stated Gil Neuman, Principal at Neuman Commercial Group. He added: “The grocer recently expanded and extended their lease for a new long term.”

Located at the juncture of two major Interstates, I-81 and I-70, and at a critical freight transportation point for rail companies Norfolk Southern and CSX, Hagerstown serves as “Hub City” and headquarters to many nationally recognized shipping and manufacturing businesses. The city is the sixth largest city in Maryland, and a 60-minute commute to Baltimore, Washington, D.C., and Northern Virginia.

About Neuman Commercial Group

Neuman Commercial Group formed in 2017 as a highly focused firm specializing in arranging the disposition and acquisition of Mid-Atlantic retail and commercial assets. CoStar has named Neuman Commercial Group a Power Broker Top Firm Award winner.