Pier 1 Imports Signs 10,453 Square Foot Lease at the Village at Waugh Chapel, to bring 340,000 Square Foot Retail Portion to 100% Occupancy
Mixed-use project in Gambrills, developed and owned by Greenberg Gibbons Commercial, also includes commercial office space, services, residential units and theatre
Gambrills, MD (December 21, 2003) – Pier 1 Imports has signed a lease with Greenberg Gibbons Commercial for 10,453 square feet of space at The Village at Waugh Chapel, bringing the 340,000 square foot retail portion of the mixed-used project to 100% occupancy. Located at the intersection of MD Route 3/301 and Waugh Chapel Road in Gambrills, anchor stores include Safeway, Marshalls, HomeGoods and Eckerd Drug. Pier 1 Imports is expected to open in Spring 2004.
Opened in 2000, the 425,000 square foot project features a distinctive “outdoor Main Street” architecture in western Anne Arundel County, and combines a complementary mix of commercial office space, senior living residential units, business and consumer services, restaurants and a 14-screen movie theatre. It is presently comprised of forty-five retailers, of which fourteen are contained on pad-site locations and fifteen businesses, including the Anne Arundel Health System, which occupies more than 40,000 square feet of space. The office space portion offers approximately 80,000 square feet of space and includes mostly physician and medical uses.
The Village at Waugh Chapel is contained on seventy-one acres of land and is differentiated by extensive landscaping featuring two man-made lakes and fountains, a waterfall, park space and a walking promenade and town squares. “Given the unparalleled highway visibility that the project enjoys from MD Route 3/301, our design and architectural team worked diligently to create a visual jewel,” explained Mark Bomse, Vice President of Greenberg Gibbons Commercial. “It was also important to combine form with function, as the project contains numerous business, retail and residential uses that are accessed at different times of the day and by various audiences,” he added.
Pier 1 Imports is billed as “North America’s largest specialty retailer” of unique, fashion-forward, decorative home furnishings, gifts and related items from more than fifty countries. At 10,453 square feet, it becomes the project’s fifth largest retailer. “With more than 13,000 residential units contained within The Village at Waugh Chapel’s primary trade area, and an additional 6500 units in various forms of construction, Pier 1 Imports will be an important destination retailer for the project,” he added.
“The Village at Waugh Chapel is among the most exciting mixed-use projects in Anne Arundel County, as it brings vibrancy, excitement and energy to the entire region,” stated Bill Badger, President of the Anne Arundel Economic Development Corporation. The marketplace has responded to this high-end development and it is an example of the quality development we strive to encourage.”
Added Anne Arundel County Executive Janet Owens, “The Village at Waugh Chapel has been an extraordinary success. It is a model of a successful mixed-use development that has lived up to its promise.”
“From our extensive research and experience with other projects, we believe the future of retailing exists with this ‘drive-up’ style of shopping,” said Mark Bomse, who oversaw the leasing phase of The Village at Waugh Chapel. “Consumers are responding favorably to this outdoor shopping environment as it harkens back to their experiences of the 60s and 70s, and it both simplifies and accelerates the shopping process. Sifting through crowded malls, fighting traffic and for parking spots are all experiences that are losing their appeal for many American consumers,” he added.
Martin Architectural Group of Philadelphia, PA was the lead architect for The Village at Waugh Chapel.
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
Larry Lichtenauer, LH&A 410-833-6205
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