Premier Acquires Kohl's and Dick's Anchored Center

Lexington Village Shopping Center, Lexington Park, MD

Premier is pleased to announce that on March 31, 2022 it acquired the 162,678 sf shopping center in Southern Maryland known as Lexington Village. The property includes a Kohl’s and a Dick’s Sporting Goods, as well as 4 other buildings. Built in 2011, the property is located in St. Mary’s County almost directly across the road from the Patuxent River Naval Air Station, home to 20,000 service and support personnel. Most of the tenancy represents national credit, including Kay Jewelers, Noodles and Company, Buffalo Wild Wings, Sport Clips, T Mobile, My Eye Doctor, and others. The center was purchased from Echo Realty for $24,950,000 and Community Bank of the Chesapeake placed a 65% LTV first trust loan. Mat Adler of Newmark represented the Seller. Lexington Village was 100% leased at the time of acquisition. Premier plans to sell off the Kohl’s, which is on a separate land parcel, and hold the balance of the center for the long term. Premier Management Services will handle the property management.