Prince Frederick, Md. — MCB Real Estate and Generation Properties have broken ground on Armory Square, a 110,000-square-foot shopping center located in Prince Frederick, roughly 44 miles southeast of Washington, D.C. The site is situated on 12.5 acres that once housed Calvert Middle School. Tenants at the center will include Aldi, Michaels, Sneade’s Ace Home Center, Dash-In, First Watch, Jersey Mike’s, Hangry Joe’s, Always Ice Cream, Foster’s Grille and Quickway Hibachi.
Hagerstown, Md. — Continental Realty Corp. (CRC) has signed Crunch Fitness to a 30,973-square-foot retail lease in Hagerstown, a suburb of Washington, D.C. The fitness concept will backfill a former Bed Bath & Beyond space at Centre at Hagerstown, a nearly 300,000-square-foot regional shopping center located at 17850 Garland Groh Blvd. The lease brings the occupancy rate of the shopping center to 97 percent. Melissa Sweeney of CRC, along with Matt Copeland and Michael Patz of KLNB Retail, represented the landlord in the lease deal. Ryan Wilner of KLNB Retail …
Bowie, Md. — NAI Michael Cos. will develop South Lake Marketplace, a 600,000-square-foot mixed-use project within the $1.3 billion South Lake development underway in Bowie. Karington LLC, an affiliate of NAI Michael Cos., owns South Lake, which also features residential units being developed by Chesapeake Realty Partners. A grocer will anchor the Marketplace property, which will also feature other retail, restaurant, sports entertainment and hospitality concepts. The development will be situated adjacent to Liberty Sports Park, which features 10 professional sports fields and attracts 344,000 tournament attendees annually, according to NAI …
Waldorf, Md. — Sprouts Farmers Market will open a 24,942-square-foot store at The Shops at Waldorf Center, a 600,000-square-foot shopping center located in Waldorf, approximately 30 miles outside Washington, D.C. Scheduled to open in fall 2025, the store will be situated near DSW, CAVA, Five Below and Old Navy. Madison Marquette is the landlord of the property, which is managed by Avison Young.
Hagerstown, Md. — Legacy Realty Group Advisors has arranged the sale of Kenley Village, a 51,894-square-foot shopping center located in Hagerstown. Dollar General Market anchors the property, which was 66 percent occupied at the time of sale. Jacob Baruch, Jonah Warshaw and Ari Warshaw of Legacy represented both the buyer and seller in the transaction.
Glen Burnie, Md. — JLL has secured a $22 million loan for the refinancing of Arundel Plaza, a 282,039-square-foot shopping center located in Glen Burnie, a southern suburb of Baltimore. Michael Klein, Jon Mikula, Evan Parker and John Cumming of JLL arranged the five-year, fixed-rate financing through a life insurance company on behalf of the Singapore-based borrower, United Hampshire U.S. REIT. Arundel Plaza was fully leased at the time of financing to tenants including Lowe’s Home Improvement, Giant Food, Jersey Mike’s, FedEx, Hook & Reel, Panda Express and Chipotle Mexican Grill. …
Baltimore — Kneads Bakeshop has signed a 1,302-square-foot lease to open a bakery and coffee shop within The Village of Cross Keys shopping center in Baltimore. Scheduled to open this fall, the store will be located in a new jewel box building, situated between Always Ice Cream Co. and a new Asian restaurant being opened by Atlas Restaurant Group. Caves Valley Partners is the landlord at the property, which recently underwent renovations. Two new restaurant pads are also currently underway at the center, with completion scheduled for later this year.
Fayetteville, Ark. — Arkansas-based Slim Chickens has signed a franchise deal for seven new restaurants in the state of Maryland. Franchisee DDR Holdings, a venture between Darrin and Dennis Atlas, will open the units. DDR Holdings currently owns and operates two Slim Chickens stores in the state. The Slim Chickens brand has opened in more than 255 locations across the U.S. and the U.K., with more than 1,200 stores currently in development.
Hyattsville, Md. — JLL Capital Markets has arranged an $18.4 million loan to finance the acquisition of Metro Shops, a retail center located in the Washington, D.C. suburb of Hyattsville. Built in 2007 at 2900 Belcrest Center Drive, the property totals 160,623 square feet and is situated across from the 1 million-square-foot Mall at Prince George’s. Tenants at the center include Bob’s Discount Furniture, Staples, LA Fitness, Citibank and Dunkin’ Donuts. Michael Klein, Max Custer, Brian Buglione and Benjamin Morgenthal of JLL secured the financing through Loews Corp. on behalf of …
Conshohocken, Pa. — IKEA will open four stores featuring its new Plan & Order Point with Pick-Up format. Scheduled to open this year, the stores will be located in Austin, Texas, metro Atlanta and the greater Los Angeles area. Situated within Domain Shopping Center, the Austin store will open this summer and will mark the second IKEA location in the city. Plan & Order Points are “dedicated to kitchen, bedroom and living room projects,” according to the company’s website. The stores feature a smaller layout with no merchandise to be taken …
