M id A tlantic Real Estate Journal — Retail Development — October 2024 — 45
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R etail D evelopment
Team facilitates sale of Pemberton Pharmacy in Salisbury, MD The McClellan Team of SVN | Miller sells two Napa Auto Parts stores totaling 26,504 s/f in MD
S ALISBURY AND POCOMOKE, MD — John McClellan and Kelly Jeter recently sold two net leased Napa Auto Parts stores in Salisbury and Pocomoke. The Napa Auto Parts store in Salisbury was a 20,204 s/f building at 651 Roland St. The Pocomoke store was a 6,300 s/f building at 1238 Ocean Hgwy. Through detailed analysis and evaluation of the proper- ties and the new leases that were in place, the McClellan Team was able to develop a comprehensive marketing effort by which they gar- nered multiple offers and were able to put both prop- erties under contract within about one month of listing. The buyer was an out of state investment group seeking to grow their regional holdings and had a strong preference for single tenant retail users. “Myself and partner, Kelly Jeter, facilitated the exten- sive, yet timely due diligence process, and our client was able to successfully close on both properties within the quick contract timeline. The buyer was pleased to acquire these low maintenance in- vestments with new 5-year leases and our client was pleased to complete a timely disposition at a desirable sales price,” said McClellan. The seller said, “I have worked with John and his team for many years. For me, hiring John and SVN | Miller was a no brainer. His network and national reach contributed to multiple offers and a successful transaction. I truly feel John always had my best interest in mind and I am pleased the McClellan Team was able to deliver on both the sales of the Napa stores as well as advising on reinvestment efforts.” In a separate transaction, The McClellan Team sold the former Pemberton Pharmacy on Pemberton Dr., Salisbury, John McClellan and Kelly Jeter represented the seller, while fellow team member, Chris Messick , represented the buyer. The former Pemberton Pharmacy will now be the home to Papayo Market. Pa- payo Market is renowned for its premium quality grocer- ies sourced from around the globe. With its flagship store already established in Seaford,
651 Roland St.
“John and Kelly were in- strumental in facilitating this sale,” remarked the seller. “Their dedication and strate- gic approach were key in navi- gating through the intricacies of the deal.” The buyer shared, “We are excited to open for business Pocomoke Napa Autoparts
on Pemberton Dr. and look forward to providing Salis- bury residents as well as the surrounding townships with a unique experience. We are grateful to Chris Messick and the McClellan Team for their guidance throughout this process.” MAREJ Former Pemberton Pharmacy
the world. The new Papayo Market location promises to be a vibrant hub where everyone can explore a new selection of foods. This strategic location offers ample opportunities for Papayo Market to thrive, serving as a focal point for community engagement.
Shown from left: Kelly Jeter, John McClellan, and Chris Messick Delaware, Papayo Market’s expansion to Salisbury signi- fies a commitment to provid - ing residents with access to the finest foods from across
22nd Annual Lenders Directory Deadline Date: November 13th
We will be publishing our 22nd Annual Lenders Directory in the November issue. To ensure your company, lending officers and mortgage brokers are included in this special issue, contact us today! How to Participate: Free Listing, Single Block $100 or Double Block $200 OR Submit a by-lined expert article or Q&A with a half page ad ($695) or full page ad ($995) marej.com | lea@marejournal.com | 781.740.2900
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