BUFFALO WILD WINGS AND PANERA BREAD SIGN LEASES AT WESTMINSTER CROSSING FOR 11,400 SQUARE FEET
Casual-dining restaurant selects Westminster as its first Maryland location, with plans to open fifteen additional sites
Westminster, MD (September 23, 2004) – Greenberg Gibbons Commercial has announced that Buffalo Wild Wings Grill & Bar has signed a pad lease for a 6400 square foot free-standing restaurant, and Panera Bread has finalized a deal for 5000 square feet at Westminster Crossing, a 225,000 square foot shopping center located at the intersection of Englar Road and MD Route 140 in Westminster, MD. This represents the first location in the State of Maryland for Buffalo Wild Wings, with the franchisee making plans to open up to fifteen additional sites within the next several years.
Since November of last year, Greenberg Gibbons Commercial has signed major leases with Marshall’s (31,674 square feet), Bed, Bath & Beyond (25,079 square feet), Michaels Stores (25,000 square feet), Office Depot (18,540 square feet) and Old Navy (14,725 square feet), cumulatively representing nearly 115,000 square feet of space. The center is now more than 87% leased, with one anchor position and several small in-line spaces left to be leased totaling approximately 39,000 square feet of space. Greenberg Gibbons Commercial is currently negotiating leases for this remaining balance of retail space.
Buffalo Wild Wings, which was named as one of the “Top 10 fastest-growing restaurant chains in the country,” combines a versatile menu featuring salads, hamburgers and appetizers with a sports-themed atmosphere complete with more than fifty television sets, including numerous 10 foot x 12 foot high-definition TVs. The restaurant’s signature New York-style buffalo wings are served with a customer’s choice of twelve different sauces.
“The City of Westminster and Carroll County represents the perfect market for this concept with its bedroom-community characteristics, the close proximity of a regional mall and a university (McDaniel College), and the neighboring towns,” explained Michael Bailey of MTB Partners, which is the restaurant’s franchise rights holder for Maryland, Michigan and Illinois. “Smaller towns work extremely well for us, as we like to be involved in the community. We also expect to draw customers from a seven to ten-mile radius of the center,” he added.
The restaurant, which will be located on a pad site at Westminster Crossing, caters to families with its casual atmosphere, affordable prices and wide menu choices. Buffalo Wild Wings is expected to open in early 2005 in Westminster, joining more than 285 locations in thirty states. A second store is opening in Hagerstown in Spring 2005.
Panera Bread will be situated in an in-line space in Westminster Crossing and expects to open in Spring 2005. The national chain presently operates more than 670 bakery-cafes in thirty-five states around the country, serving freshly baked bread, muffins and other pastries, in addition to offering breakfast, lunch and dinner items. Signature items for Panera Bread include made-to-order sandwiches, soup in bread bowls and a variety of freshly-brewed coffees.
“Restaurants help create a unique identity for shopping centers and, in Buffalo Wild Wings and Panera Bread, Westminster Crossing has two additional attractions that will stimulate numerous customer visitations from throughout Carroll County,” said Mark Bomse, Vice President of Greenberg Gibbons Commercial who oversees leasing activities at the center. “The two restaurants also complement each other extremely well, with Panera Bread focusing on the breakfast and lunch clientele and Buffalo Wild Wings catering primarily to lunch and dinner patrons. It is an ideal mix that will attract customers at different times of the day,” he added.
Last year, Greenberg Gibbons Commercial unveiled plans to inject more than $15 million in improvements into the former Englar Shopping Center and former Lowe’s hardware store site. The western portion of the shopping center contains approximately 125,000 square feet of space and features SuperFresh, Office Depot, Michaels and CVS Pharmacy. Bed, Bath & Beyond, Old Navy and Marshalls are located in the center’s east section.
Construction work began last November on the upgrades at Westminster Crossing, which includes new exterior facades on the retail center and both roadside pylon and in-store signage. More than 44,000 active consumers reside within a five-mile radius of Westminster Crossing, with a median household income exceeding $64,000.
“Our re-tenanting program is nearing completion and we have been extremely successful in attracting a number of highly recognizable and destination-style retailers to Westminster Crossing, including several that established their inaugural stores in Carroll County,” stated Greenberg, Chairman of the Board of Greenberg Gibbons Commercial. “This project is a testament to our company’s consistent ability to transform under-utilized retail venues into projects that add value and economic vitality to an entire region. Westminster Crossing is strategically positioned to capture the residential areas in central Carroll County, northwestern Baltimore County and southern Pennsylvania,” he added.
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. Greenberg Gibbons Commercial presently owns and manages eighteen properties totaling more than three million square feet of space throughout Maryland, Virginia and Louisiana.
For additional information:
Contact: Mark Bomse, Greenberg Gibbons Commercial
410-559-2500 ext. 114
Larry Lichtenauer, LH&A 410-833-6205
