Greenberg Gibbons Commercial Corporation Unveils $15 Million Re-Development Plan for Westminster Retail Center
Site, at intersection of MD Route 140 and Englar Road, re-named Westminster Crossing and will be re-tenanted with big-box retailers
Westminster, MD (November 13, 2003) – Greenberg Gibbons Commercial Corporation has unveiled plans to inject more than $15 million in improvements into the former Englar Shopping Center and Lowe’s hardware store site, located at the intersection of Englar Road and MD Route 140 in Westminster, MD. Upon final completion in Fall 2004, the project, which was recently re-named Westminster Crossing, will feature approximately 225,000 square feet of lifestyle retailers, including several big-box tenants that will be new to Carroll County.
Greenberg Gibbons Commercial and KLNB Retail are overseeing leasing activities, with Mark Bomse of Greenberg Gibbons Commercial and Phil Ruxton of KLNB, supervising this program.
The western portion of the shopping center contains approximately 125,000 square feet of space including SuperFresh and CVS Pharmacy. Office Depot recently signed a lease for 18,540 square feet of space in the 73,200 square foot building formerly occupied by K-Mart and is expected to be operational in the second or third quarter 2004.
“Office Depot is a significant win for Westminster Crossing, as this destination retailer has proven to draw both retail consumers and businesses from a wide radius,” explained Mark Bomse, Vice President of Greenberg Gibbons Commercial Corporation. “We are considering a number of other destination retailers that have expressed interest in joining Office Depot at this site, and our plan is to further sub-divide the space with large users.”
The eastern portion of Westminster Crossing can be configured for more than 100,000 square feet of space which includes approximately 90,000 square feet of in-line space and three pad site locations. “Our leasing efforts are focused on big-box, lifestyle retailers that represent new shopping opportunities for Carroll County shoppers, as well as casual and fast-casual restaurants,” stated Phil Ruxton of KLNB Retail. “Categories that have expressed interest include apparel, home goods, books and pets. The availability of several large spaces in a growing demographic area has spawned interest from both regional and national retailers. The strong grocery store anchor is also a major amenity,” he added.
Construction work recently initiated on the upgrades at Westminster Crossing, which includes new exterior facades on the retail center, both roadside pylon and in-store signage and road improvements. “From both an architectural and practical view, our plan includes a lined-up access connecting the two portions of the center,” stated Bomse.
“Upon completion, Westminster Crossing will anchor the northern shopping district in Westminster, and act as a gateway to shoppers accessing the City from the western and northern regions. Our goal is to open the Center in conjunction with the 2004 back-to-school shopping season, which is historically the second busiest retailing period of the year,” he added.
“Westminster and Carroll County are considered extremely viable and growing markets, with more than 44,000 active consumers residing within a five-mile radius of these centers and a median household income exceeding $64,000,” stated Phil Ruxton of KLNB Retail. “Retailers such as Kohl’s, Target, Wal-Mart and Sears have a strong presence in Carroll County, which act as magnets for other area shopping centers,” he added.
“The efforts underway by Greenberg Gibbons Commercial represent a model for successful re-development in Carroll County,” stated Jack Lyburn, Executive Director of Carroll County Economic Development. “The company has taken an under-performing asset and transformed it into a project that will bring value to both businesses and residents in the area and spur similar business development projects on the Route 140 corridor,” he added.
KLNB features more than 50 full-time real estate professionals, and provides a full range of brokerage, financial and investment services, property/facilities management and strategic advisory services to the commercial office, industrial and retail sectors. KLNB maintains full-service offices in Baltimore City, Towson, and Columbia, MD as well as Vienna, VA.
Greenberg Gibbons Commercial, founded in 1968, focuses on the leasing, development, acquisition and management of commercial real estate properties and retail shopping centers in the Mid-Atlantic region. The firm builds value in these holdings through asset management, re-development and leasing activities.
For additional information contact:
Mark Bomse, Greenberg Gibbons Commercial 410-559-2500 ext. 114
Phil Ruxton, KLNB Retail 571-382-2077
Larry Lichtenauer, LH&A 410-833-6205
