1 Dairyland Sq
Red Lion, PA 17356

The Dumes Falk Group of Marcus & Millichap is pleased to bring to market, Dairyland Square, a 144,780-square foot grocery anchored neighborhood shopping center in the Red Lion submarket of York, Pennsylvania. Dairyland Square is currently 47 percent occupied and has been anchored by Jerry's Great Valu for more than twenty-years. The property is situated on approximately 19 acres with multiple points of ingress and egress. Dairyland Square is a typical neighborhood center with internet resistant retailers that include a mixture of eight local and national tenants including Family Dollar, a medical office, three restaurants, a church, liquor store and an outdoor sporting goods store. All of these tenants are under triple-net leases and have excellent historical occupancy with the majority of leases dating back ten, twenty and even thirty-years. Jerry's Great Valu occupies 24 percent of the gross leasable area with nearly eight years remaining on a triple-net lease. Jerry's Great Valu, a York based discount grocery store that has been in business for over 30 years and is most well known for their homemade products, fresh produce and smoked meats. Red Lion is a residential borough of the city of York, located approximately 50-miles north of Baltimore and 100-miles west of Philadelphia. Dairyland Square is strategically positioned just off of State-Route 74, an east/west commuter corridor. Dairyland Square has a stable presence in the local market and a new housing development broke ground on a contiguous parcel in 2008. Today the community, and built-in customer base, has grown to encompass 92 townhomes that are 98 percent occupied along with another 50 single family homes. The surrounding population has seen nearly 16 percent population increase since 2000 within three-miles of the center. Within five-miles, the population has seen over 21 percent growth with 65,000 residents and average household incomes of more than $77,000. There are also more than 26,000 employees in three-miles and 51,000 in five-miles. Dairyland square provides an incoming investor the ability to acquire a value-add grocery anchored center located off of a commuter corridor within a growing market. The local demographics provides a strong and stable economic base for an investor to create tremendous upside though leasing up the 76,500-square feet of vacant space. An investor can begin to attract new tenants by infusing capital to renovate the center such as increasing signage and visibility along State-Route 74, a new façade and exterior paint would bring this dated center back to a dominate retail hub it once was. Attracting a national tenant to occupy the 50,000-square foot box at $3 per foot gross lease, and leasing up the eight inline spaces totaling 26,500-square feet at $6 to $9 under triple-net leases could potentially add an additional $350,000 to the NOI. Dairyland Square should remain an integral part of the community and will continue to serve as an invaluable shopping destination for local residents and travelers alike.