8168 Elliott Rd
Easton, MD 21601
Staples Plaza · Retail Property For Sale

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer the fee simple interest in Staples Plaza, a 33,912 SF shopping strip in Easton, Talbot County, Maryland (the "Offering"). Staples Plaza is presently 80% occupied by Staples and a local nail salon along with two vacancies totaling 6,740 SF. This Offering presents an investor the opportunity to acquire a high-yield,, value-add center anchored by a long-established Staples location immediately across from a Walmart & Giant anchored center in the heart of Easton’s retail trade area on Maryland’s Eastern Shore. The Offering is anchored by a long-standing Staples location which has operated here since 2000 as an original build-to-suit for the tenant. Most recently, Staples executed a five-year renewal with only a $1.50 per-squarefoot rent concession. Staples does not report sales, though the tenant’s two recent renewals are a strong indication of this store’s profitability despite many chain wide closings and downsizings. Further, the store has no competition in the regional area as there is not another office supply store for more than 40 miles in Annapolis, Maryland. There is an opportunity to add value by leasing up the two remaining inline suites of 4,940 square-feet and 1,800 square-feet. The present ownership has not focused significant energy on leasing efforts. Hands-on leasing will be able to take advantage of this well-maintained property with strategic positioning just off the Route 50 corridor, a major East–West route connecting Washington, D.C. to the Eastern Shore of Maryland. Staples Plaza is effectively shadow-anchored by a highly trafficked Walmart and synergistic with the Shoppes at Easton, a 108,425 SF shopping center anchored by Giant Food and Dollar Tree, and the newly constructed Aldi on the intersection’s corner parcel. Additional neighboring land may also be able to be acquired from a third party owner if one wished to expand the development. The Property benefits from traffic generated by many national retailers, as well as other nearby retailers Walgreens, Wawa, Advance Auto Parts, Burger King, Taco Bell, and McDonald’s. Notable tenants such as Verizon, Caliber Collison and Royal Farms have also entered the market recently showing growth and momentum in the retail trade area. Easton is the county seat of Talbot County and located 70 miles from both Washington, DC and Baltimore and 40 miles southeast of Annapolis. Easton has a wide 25-mile trade radius as it draws from some of the most desirable and affluent vacation and second home destinations in the area including St. Michaels, Wye River, Oxford and Royal Oak. This is the biggest critical mass of retail for an hour in any direction with more than 163,663 people within the 25-mile trade area. Easton is growing and one of the commerce hubs on the Delmarva Peninsula. Its new residents are second homeowners as well as an influx of retirees fleeing the Western Shore and the New York City Metro Area.