White Marlin Mall Now 98% Leased with Signing of 24,500 Square Foot Retailer
The Palace of the Emerald Coast inks deal with Greenberg Gibbons Commercial for space in 186,000 square foot Ocean City, MD shopping center
Ocean City, MD (March 2, 2004) – The Palace of the Emerald Coast has signed a lease with Greenberg Gibbons Commercial for 24,500 square feet of space at White Marlin Mall, bringing the 186,000 square foot shopping center to 98% occupancy. Located at the intersection of US Highway 50 and MD Route 611 in Ocean City, anchor stores include Marshalls, Staples and the five-screen Fox Theatres. The store is expected to open in early Spring.
Constructed in 1987, the shopping center is positioned adjacent to the 180,000 square foot Ocean City Factory Outlet Center which, combined, comprise the largest shopping center complex in the greater Ocean City area at approximately 350,000 square feet. Greenberg Gibbons Commercial initiated an extensive renovation and re-tenanting program last year which resulted in the addition of a number of new tenants including Marshalls and Staples. Dollar Days Party Zone also recently signed a lease for 5300 square feet of space.
The Palace of the Emerald Coast, which is headquartered in Destin, Florida will be the single occupant of free-standing site at the center. The national retailer carries an assortment of beach-related apparel, products, toys and accessories including bathing suits, towels, umbrellas and footwear. All items are sold at discount pricing.
“This new store will act as a consumer magnet to White Marlin Mall, as vacationers and local residents are always in need of beachwear, suntan lotion and assorted items,” stated J. Paul Mitchell, Senior Vice President of Greenberg Gibbons Commercial. “Part of the allure of visiting Ocean City is partaking in the adventure of shopping, and The Palace of the Emerald Coast will become a unique destination in its own right,” he added.
Each year, the population of Ocean City balloons to become the State’s second largest city during the Summer season, with more than eight million people visiting the resort town between Memorial Day and Labor Day. Weekend numbers of more than 320,000 residents and visitors are common during certain periods of the Summer.
“White Marlin Mall has a built-in and loyal customer following from year-round Ocean City residents, but is also benefited by the attraction of the beach during peak months. We have worked hard to attract merchants that appeal to both market segments, and position the project as one that offers high quality and value-oriented merchandise,” Mitchell added.
The developer expects to announce additional lease signings in the next several weeks, as certain merchants are replaced to further improve the tenant mix.
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:
J. Paul Mitchell, Greenberg Gibbons Commercial 410-559-2507
Larry Lichtenauer, LH&A 410-833-6205
