Acquisition Date: May 2020 Disposition Date: August 2021
The new 7-Eleven development is located at the Southeast corner of the intersection of US Route 50 and Samuel Bowen Boulevard in Ocean City, Maryland. Located along the regional retail corridor, the traffic lit intersection has a daily traffic count of approximately 28,500 vehicles per day. US Route 50 is the major thoroughfare between downtown Salisbury and Ocean City on the desirable “going to the beach” side of the street. Ocean City is a popular destination along the Atlantic Ocean with approximately eight million annual visitors featuring a boardwalk of hotels, restaurants, water parks and amusement parks. Each summer, Ocean City becomes the second most populated municipality in Maryland, after Baltimore.
The property is surrounded by national retailers and local attractions including Walmart, Home Depot, PetSmart, Ross, and Michaels to the west and Tanger Outlet Mall to the East. In addition to the attractions in Ocean City, the property is across the street from Ocean Downs Casino and Racetrack. This new 7-Eleven will attract thousands of customers from these numerous traffic generators.