Home Depot has purchased its own store at 15740 Shady Grove Road at the 270 Center in Gaithersburg. According to a report by Maryland Newsletters, Home Depot recently paid $55.5 million for the 102,190 SF building. The store was previously subdivided out of the larger shopping center so that it could be sold individually.
Home Depot is a co-anchor of 270 Center, a shopping center shadow-anchored by a powerful mix of destination retailers including Best Buy, Nordstrom Rack, and soon (maybe), a brand new Amazon Fresh grocer. The property benefits from high historical occupancy, high sales, and long-term leases. Nordstrom Rack has been at the property for ±10 years and is ranked the 2nd busiest Nordstrom Rack in the state of Maryland by customer foot traffic. Best Buy has co-anchored the property since its inception in 1994.
Featured photo courtesy of LoopNet.com