Discount furniture chain signs lease with Hill Management Services, Inc. and recent leasing activity elevates 170,000 square foot neighborhood shopping center to 100 percent occupancy
CoStar Group, a company which provides information, analytics, and marketing services to the commercial real estate sector has recognized Value City Furniture’s 24,757 square foot lease at Bel Air Plaza as among the top leasing transactions completed in Q3 2023 in the greater Baltimore-Washington, D.C. region. The discount furniture chain, which operates multiple locations throughout Maryland, signed a lease with Hill Management Services, Inc. for space at the 170,000 square foot center in Harford County and intends to open later this year. Ashley Zito, Senior Leasing Manager and Danielle Bridge, Leasing Manager for Hill Management Services, as well as Mason Bernstein and Bob Morris represented the landlord in this transaction. Ryan Wilner of KLNB represented the tenant.
Located at 599 Baltimore Pikein Bel Air, the center is now fully-leased on the signing of recent leases completed with Crumbl Cookies, honeygrow and The Joint Chiropractic. Also anchored by ALDI, La-Z-Boy, Ross Dress for Less and Starbucks Coffee, Bel Air Plaza features a mix of more than 20 retailers including restaurants, healthcare groups and professional services providers.
Located near the intersection of US Route 1 and MD Route 24, nearly 120,000 consumers reside within a five-mile radius of the center, including nearly 45,000 households with an average household income approaching $142,000.
According to CoStar, “as big-ticket items involving sizable investments, commercial property transactions often have a wider impact with the community.” The Washington, D.C.-based company “recognizes the largest leases completed each quarter and the dealmakers who made them happen in their respective markets.”
“This is a high-profile lease that brings tremendous value to the greater Bel Air community,” stated Danielle Beyrodt, Vice President, and Chief Operating Officer of Hill Management Services. “Value City Furniture, with its wide product selection and reputation for responsive customer service represents an excellent addition to the tenant mix. There are many noteworthy transactions from which to choose, and we are honored that CoStar Group recognized the significance of this lease.”
Founded in 1976, Hill Management Services, Inc. is a privately-owned, full-service real estate development company. Located in Timonium, Maryland, Hill Management owns more than four million square feet of office, industrial and retail space as well as several hotel and self-storage facilities. Hill Management Services seeks to provide long-term investments, exceptional customer service, and develop long-lasting tenant-landlord relationships. For more information visit www.hillmgt.com