Premier Sells Kohl's At Lexington Village

KOHLS at Lexington Village Shopping Center

Premier is pleased to announce that on August 17, 2022 it sold the 90,000 sf Kohl’s store at Lexington Village Shopping Center in Southern Maryland. Premier had acquired the Kohl’s store as part of its purchase 5 months earlier of the entire Lexington Village Shopping Center — see the announcement of that purchase below. The buyer was Lincoln Property Company and the brokers were Richard Murphy and Jonathan Hipp of Avison Young. The reason for the quick sale was the ability to turn an immediate profit for Premier and its investors who had purchased the property at a 7.7% cap and were able to sell the Kohl’s off at a 6.15% cap for a substantial profit. Premier will retain the remaining 5 buildings in the center, which include tenants such as Dick’s Sporting Goods, Kay Jewelers, Noodles and Company, Buffalo Wild Wings, Sport Clips, T Mobile, My Eye Doctor, and others. Premier also handles management and leasing at Lexington Village, which is currently 100% leased.