Olympia Sports Lease at Lakeshore Plaza is Firm’s First Store Location in Greater Baltimore Metropolitan Region
BALTIMORE (April 11, 2012) – Olympia Sports, a sporting goods and apparel retailer that operates more than 200 locations throughout the Northeast and Mid-Atlantic regions, has signed a lease with St. John Properties, Inc. for 4,600 square feet of space at Lakeshore Plaza in Pasadena, MD. This location, within the 161,000 square foot retail center located near the intersection of MD Route 100 and Magothy Beach Road, is the Maine-based retail chain’s first store in the Baltimore metropolitan region. Olympia Sports expects to open the Laskeshore Plaza store this fall.
Also at Lakeshore Plaza, CPR® Cell Phone Repair has signed a lease for 1,200 square feet of space and Executive Wireless, a Verizon Wireless authorized agent with eight stores in the Maryland area, has signed a lease that will double its current space at the center to approximately 2,600 square feet. With these agreements, Lakeshore Plaza is now 94% leased.
Founded in 1975, Olympia Sports features a broad assortment of national brand merchandise – including Adidas, Champion, New Balance, Nike, Reebok and Under Armour – in sports equipment, fitness equipment and apparel, athletic footwear, popular sports/leisure wear and accessories. The store offers an Olympia Edge Rewards program that provides discounts to loyal customers, and operates The Olympia Sports Foundation Clothing Bank, which provides new clothing to individuals or families in need of assistance. The nearest Olympia Sports Maryland location, which opened last November, is situated in Dunkirk Gateway in Calvert County, south of Washington, D.C.
CPR Cell Phone Repair is a franchise chain with more than 80 cell phone and electronic device repair stores throughout the United States, Canada and South America. Verizon Wireless operates the largest 4G LTE network in the country through more than 2,000 stores, serving nearly 108 million total wireless connections, including more than 92 million customers.
“Olympia Sports represents the perfect complement to Lakeshore Plaza and our existing tenant roster, as it fills a need in the sporting goods category that is currently under-served in the immediate region,” explained Bill Holzman, Assistant Vice President – Retail Leasing for St. John Properties. “We are extremely impresssed with the company’s track record of recognizing emerging fashion and equipment trends in the sporting goods industry, coupled with its customer-first approach to operations. We are certain that the concept will be immediately embraced in Anne Arundel County and beyond.
“The addition and expansion of two retailers serving the wireless product category demonstrates the strength of this industry and its ever-expanding popularity among consumers,” Holzman added. “This tenant segment is historically a high traffic-generator, and that will benefit other Lakeshore Plaza tenants as well.”
St. John Properties invested more than $3 million in a renovation and improvement package at Lakeshore Plaza that incorporated exterior upgrades such as providing a new color scheme throughout the center, adding new lighting fixtures and a modernized canopy section, replacing columns with new structures comprised of round wood, and adding architectural features to the towers and roofscape. The center, which is anchored by Safeway supermarket, Ace Hardware and Hallmark, includes a mix of 20 additional stores in the soft goods, apparel, business and consumers services and restaurant categories.
Lakeshore Plaza serves communities situated in eastern Anne Arundel County, including Pasadena and Arnold. More than 112,000 residents live within a five-mile radius of the retail center, with average household income exceeding $96,000.
About St. John Properties
St. John Properties, Inc., founded in 1971 as MIE Properties, owns and has developed more than 14 million square feet of R&D/flex, office, warehouse and retail space in Maryland, Colorado, Louisiana, Virginia and Wisconsin. For more information about the company, visit sjp.mu9b0uf9-liquidwebsites.com.
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Director of Marketing, St. John Properties Inc.