Klein Enterprises Wraps Retail Center Revamp

Valley Plaza. Image courtesy of Klein Enterprises

Klein Enterprises has finalized the redevelopment of Valley Plaza, a 190,900-square-foot shopping center in Hagerstown, Md. The company purchased the asset from Cedar Realty Trust in July, as part of a $130 million portfolio transaction, according to Commercial Observer. The acquisition included nine grocery-anchored retail assets across Maryland, Virginia and Pennsylvania.

The retail sector is experiencing a shift in how properties are utilized by customers, retailers and operators. With these changes happening rapidly, owners must adapt their spaces and identify the most effective ways to use their properties. Improvements at Valley Plaza include a revamped exterior, new signage on the pylons, a resurfaced parking lot and improved lighting.

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The retail center hosts an array of tenants, including McDonald’s, Mexicali Cantina, Roy Rogers, Tractor Supply and Hobby Lobby, among others. The latter opened at Valley Plaza in September last year, following the relocation from Wesel Boulevard.

In addition, Maryland’s first Boot Barn is set to open at Valley Plaza on the 1st of February this year. Grocery Outlet, the supermarket chain’s first location in the state, opened at the location in the summer of last year.

Located at 1701 Massey Blvd. in Hagerstown’s retail corridor, Valley Plaza is less than 2 miles from Interstate 81, providing easy access to the surrounding Washington County. The shopping center sees an annual average daily traffic of 91,095 vehicles and serves 86,531 residents within a 5-mile radius.