Kimco Realty Corp. (NYSE:KIM) announced today that Giant Food, a subsidiary of Ahold Delhaize USA, will occupy 66,450 square feet at Mill Station, the companys $108 million Signature Series development in Baltimore County, Maryland, on the site of the former Owings Mills Mall. Giant, a preeminent grocery banner in the Mid-Atlantic region, will join previously announced anchors including Lowes Home Improvement, Marshalls, HomeSense, Burlington, Five Below, AMC Theatre and Costco, which is set to open next month. With the addition of Giant, the 621,000-square-foot open-air shopping and lifestyle destination is now approximately 90% leased.
The tenant lineup taking shape at Mill Station has all the necessary elements for a successful open-air shopping destination: everyday goods and services, popular treasure-hunt and bargain retailers, and exciting entertainment and dining options, said David Jamieson, Kimcos Chief Operating Officer. We continue to see strong retailer demand across multiple categories, reinforcing the guiding philosophy of our 2020 Vision strategy “ that there will always be demand for high-quality real estate.
Kimco also unveiled final architectural renderings for Mill Stations Courtyard, where 45,000 square feet of retail will surround a four-season landscaped lawn and outdoor gathering space. The Courtyards modern design will offer an inviting impression not only from the bordering retail, but also from the surrounding office buildings, whose tenants will be able to walk to the Courtyard along Mill Stations new pedestrian systems, creating a campus-like setting.
The Courtyard is central to our vision for Mill Station as a true lifestyle destination, said Tom Simmons, President of Kimcos Mid-Atlantic Region. This space has endless potential for programming and events that will draw in shoppers and visitors, and were confident it will rival any community gathering space in Baltimore County.
Upon completion, Mill Station will house up to 30 tenants, with a mix of national, regional and local retailers and restaurants arranged in a modern, open layout incorporating green space and a network of walkways connecting to existing office and retail. The center will serve a population of 167,000 in the surrounding five-mile radius, with an average household income of approximately $95,000. The project enjoys direct access to I-795 and sits adjacent to the Owings Mills Station stop on Baltimores Metro SubwayLink. Retailer openings will commence this fall with Costco and continue through 2019.
Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North Americas largest publicly traded owners and operators of open-air shopping centers. As of June 30, 2018, the company owned interests in 460 U.S. shopping centers comprising 79 million square feet of leasable space primarily concentrated in the top major metropolitan markets. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for 60 years. For further information, please visit www.kimcorealty.com, the companys blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.
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