Search
 

Shopping Center Success with Old and New Tenants

BEL AIR, MD-The Festival at Bel Air, a 450,000-sf grocery-anchored center, watches a current tenant expand and a new tenant make its debut. Eckerd drugstore will double its space and the Bombay Co. will move into a 7,000-sf space.

By Barbra Murray | Updated on October 17, 2003

BEL AIR, MD-The nearly 450,000-sf Baltimore area-based community shopping center known as Festival at Bel Air has gotten an expanded commitment from one retailer and a new commitment form another. Drugstore chain Eckerd will more than double its current 7,000-sf store to 14,400 sf, and home furnishings shop the Bombay Co. will open its doors in the 7,000-sf space that now belongs to Eckerd. Construction of Eckerd’s new and larger locale gets underway this month, and is scheduled for completion in early 2004. Leasing terms for the two retailers have not been released, but as per the NAI 2003 Real Estate Planning Guide, average effective rents for suburban Baltimore shopping centers range from $15 to $22 per sf.

“The drugstore’s expansion and relocation is evidence of the success retailers enjoy at our shopping center,” says Bob Schwenger, VP of JBG Rosenfeld Retail, the company that owns and leases the retail center. “The entrance of a higher-end retailer like Bombay is in keeping with our ultimate goal to raise the level of tenancies at this property.” Other tenants at Festival include anchors KB Toy Works, Klein’s Supermarket, Kohl’s, Marshall’s, and the RoomStore Furniture.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.