WESTMINSTER UNION BANK LEASES SITE FROM GREENBERG GIBBONS COMMERCIAL FOR CONSTRUCTION OF NEW BRANCH AT WESTMINSTER CROSSING
Owings Mills, MD (July 1, 2005) – Westminster Union Bank has leased a one-acre parcel from Greenberg Gibbons Commercial Corporation for the construction of a new 4000 square foot branch banking office on a pad site at Westminster Crossing. The 225,000 square foot shopping center is located at the intersection of Englar Road and MD Route 140 in Westminster, MD. The center, which has been undergoing a major renovation and releasing effort since Greenberg Gibbons Commercial purchased the site in 2003, is now virtually 100% leased.
The site represents an expansion of Westminster Union’s current branch that is located in an inline position at Westminster Crossing. The bank, which currently operates eighteen branches in the Carroll and Howard County region – including six in the greater Westminster area --is also headquartered in Westminster. The branch, which will feature four drive-thru lanes and an automated teller machine, is expected to commence construction this Summer and become operational by first quarter 2007.
“Westminster Crossing features an impressive array of new merchants to the Carroll County region, and our expansion and relocation to the pad site indicates our long-term commitment to this project,” stated Mark Pohlhaus, President and CEO of Westminster Union Bank. “Our new pad site location provides us with outstanding visibility from MD Route 140 and the prominence we need to serve current and attract new customers. This banking branch will be larger than our previous site, more modern and feature multi-lane drive-thrus for added convenience for our customers,” he added.
Since late November 2004, Greenberg Gibbons Commercial has added Bed, Bath & Beyond, Marshall’s, Michael’s Stores, Office Depot and Old Navy to its roster of merchants that also includes SuperFresh. Additional retailers that have signed leases and/or opened stores at Westminster Crossing include Gavigan’s Home Furnishings, Buffalo Wild Wings and Panera Bread.
“It is important to attract highly-recognized national retailers to the center, but we also value the importance of mixing these stores with locally-owned and community-oriented merchants that have long-standing relationships with local residents,” explained Mark Bomse, Vice President of Leasing for Greenberg Gibbons Commercial Corporation. “Westminster Union Bank has performed well at this center, and it brings a consistent and unique hometown flavor to the environment at Westminster Crossing,” he added.
Greenberg Gibbons Commercial, founded in 1968, focuses on the acquisition, development, leasing and management of mixed-use 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. The company presently owns and manages eighteen properties totaling more than three million square feet of space.
For additional information, Contact:
Greenberg Gibbons Commercial Corporation 410-559-2500
Larry Lichtenauer, LH&A 410-833-6205
