Picture by Kentaro Toma by way of Unsplash.com
Burlington Shops has signed a 30,000-square-foot lease at PREIT’s Springfield City Middle in Springfield, Va. The owner dealt with the lease in-house, in line with a spokesperson representing PREIT.
The shop is slated to open this 12 months. Burlington’s outlet will complement the LEGO Discovery Middle’s current opening on the property, in addition to different additions, together with Lovisa, BoxLunch, Day by day Thread and Carters, amongst others. The lease settlement with the most recent tenant is bringing the middle’s occupancy to 95.5 p.c.
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The property, initially accomplished in 1973, underwent a radical redevelopment course of that wrapped up in 2014, the identical spokesperson advised Business Property Government. PREIT bought the asset in 2015, from Vornado Realty Belief, for $452 million.
Positioned at 6601 Springfield Mall, the retail middle is accessible by way of Henry G. Shirley Memorial Freeway. Moreover, Springfield City Middle is positioned on the intersection of Interstates 95, 395, 495 and Fairfax Parkway.
A 1.7 million-square-foot Northern Virginia retail middle
Goal, Macy’s, JCPenney, Nordstrom Rack and 5 Beneath are among the many tenants on the 1.7 million-square-foot retail middle. In line with knowledge agency Placer.ai, Springfield City Middle has practically 1.1 million annual visits.
With the purpose to transform Springfield City Middle right into a reimagined mixed-use household leisure hub, PREIT unveiled plans for a 75,000-square-foot retail and leisure area on the property this 12 months. Moreover, the agency has not too long ago obtained approval from the Fairfax County Board of Supervisors for the addition of 460 flats and 165 lodge rooms on the location.
