105 E North Pointe Dr
Salisbury, MD 21804

Pegasus Investments is pleased to present the opportunity to acquire an extremely well-located single tenant net leased PetSmart with 20-years of historical occupancy. Located in Salisbury, Maryland at the main entrance to The Commons – a 300,000 SF institutionally owned shopping center anchored by Target, Home Depot and Best Buy, the property is arguably the best junior box in the market. The immediate retail trade area boasts occupancy of 98.9%, an impressive metric considering the 1.2M SF of open air shopping centers surrounding the subject property (Costar, June 2019). Further, as the only full format pet supply store within 25-miles, the PetSmart has enjoyed continuous occupancy since 1999 and recently extended its lease term to 2025. The investment property is secured by a uniquely passive net lease structure, requiring very minimal property management by the landlord. PetSmart, the #1 ranked pet supply retailer in the country, currently has over 1,650 stores in North America and has opened 500 in the last decade alone.