National hard surface flooring and accessories retailer signs 85,794 square foot lease with Continental Realty Corporation and plans to open in former Kmart space at 8980 Waltham Woods Road in mid-2022
Floor & Decor has leased the former Kmart store at North Plaza Shopping Center
Floor & Decor, a multi-channel specialty retailer of hard surface flooring and accessories, has selected North Plaza Shopping Center in Parkville, Maryland as the site for its first location in the greater Baltimore metropolitan region. The Atlanta-based company, which operates nearly 160 stores across 31 states, has signed a lease with Continental Realty Corporation (CRC) for 85,794 square feet of space in the 340,000 square foot retail center located at 8980 Waltham Woods Road in Baltimore County. Floor & Decor intends to employ more than 60 full and part-time workers in the space formerly occupied by Kmart and is planning a mid-2022 opening. The lease brings North Plaza Shopping Center to 100% occupancy. Blake Dickinson and Cherene Keenan of Continental Realty Corporation represented the landlord and John Meyer and Brian Finkelstein of KLNB represented the tenant in this transaction.
Floor & Decor offers a complete selection of tile, wood, stone, laminate and vinyl flooring materials, as well as related tools and accessories. The retailer utilizes a warehouse-format that averages approximately 80,000 square feet of space and enables the instant availability of a large inventory of products suitable for kitchens, bathrooms and outdoor areas. Floor & Decor also stocks a full range of decoratives and fixtures, including backsplashes, vanities and vanity tops, shower doors, sinks and shower doors. The store, which also provides installation services, is suitable for general contractors and consumers.
This Parkville store represents the second Maryland location for Floor & Decor, which also operates a store in the Gaithersburg section of Montgomery County.
North Plaza Shopping Center is positioned near the intersection of Perring Parkway and E. Joppa Road and is adjacent to an exit off Interstate 695 (Baltimore Beltway). Anchored by Safeway and Ross Dress for Less, the project features more than 30 tenants comprised of national, regional and locally-owned retailers, restaurants, and service providers. Other representative tenants include Harbor Freight Tools, The Y in Central Maryland, Chuck E. Cheese, Gabe’s, Five Guys Bugers& Fries, Wockenfuss Candies, Sherwin-Williams, and Sally Beauty Supply. More than 102,000 consumers reside within a three-mile radius of the center, including more than 43,000 households with an average household income exceeding $93,000.
“Floor &Decor appeals to many different target audiences and, over the past two years, the home improvement category has ranked among the highest performers in the retail sector,” stated David Donato, CRC’s Chief Operating Officer. “We are confident that Floor & Decor’s extensive product selection and affordable pricing will prove extremely attractive to Baltimore County home improvement enthusiasts, do-it-yourselfers, and contractors. As a regional draw with stores that often attract customers from an expansive trade area, we look forward to this location serving both neighborhood shoppers and consumers from across the Baltimore metropolitan region.”
“Floor & Decor is in the midst of an aggressive expansion program throughout the country and has recently added several stores in the Maryland and Northern Virginia region,” said KLNB Principal John Meyer. “They are particularly attracted to high-growth areas with dense residential populations, as well as areas with older housing stock that offer the opportunity for home improvements. North Plaza met all of the criteria we look for in our search, including a strategic location, proximity to other regional retailers and strong demographics.”
“Floor & Decor will greatly enhance one of our most established and important shopping centers along the Joppa Road corridor,” stated Baltimore County Councilman David Marks (Fifth District). “I am thrilled by this new option in northeastern Baltimore County and thank Continental Realty Corporation for working to attract such a nationally renowned tenant.”
Headquartered in Baltimore and founded in 1960, Continental Realty Corporation is a full-service commercial real estate and investment company focused on acquiring and operating retail and multifamily properties. The privately-held firm owns and manages a diversified portfolio of retail centers consisting of more than five million square feet of commercial space and over 9,000 apartment homes across ten states, with a portfolio value exceeding $3 billion. For additional information, visit www.crcrealty.com
