Shopping Center Business

MAY 2015

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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192 • SHOPPING CENTER BUSINESS • MAY 2015 office workers, Ellsworth Place will stack category killer retailers including new anchors Ross Dress for Less, TJ Maxx and Michaels, and an existing renovated Marshalls and Burlington Coat Factory, while accommodating a number of new specialty store spaces. Other tenants in- clude McGinty's Irish Pub, T.D. Bank, Mod's Pizza, Ben & Jerry's, Noodles & Company, and Chipotle, with multiple leases being negotiated to open in the fall. ci design's role was to reconfigure the center to draw shoppers to anchors on multiple levels, renovate a well-kept but dated interior, and create more activity on the street-level exterior. "With more than 600,000 people living within five miles, more than eight million pedestrians walking past our entrances every year, and household incomes ex- ceeding $100,000, we needed to find a solution by opening up the project with new entrances and exciting signage," Pet- rie notes. "Downtown Silver Spring is the only location in Montgomery County that is a designated 'entertainment district.'" At the same time, we had to honor the past by planning around the historic status of parts of the property, respect the pres- ent by accommodating codes and shop- per tastes that have changed markedly since the 1990s, and plan for the future by laying the groundwork for more development above the center. City Place had been Petrie's attempt to draw visitors to down- town Silver Spring after the 1987 closure of the Hecht's department store in the 1980s. But few planned de- velopments followed immediately after City Place's opening. The mall prospered for its first seven years, even as neighboring blocks were redeveloped ear- ly in the 21st Century when Montgomery County committed millions of dollars to revitalizing the urban area. But without new development adjacent to the project, the mall began a slow decline. Bit by bit, Downtown Silver Spring be- came a thriving core: Discovery Commu- nications built a corporate headquarters in 2003, the Silver Spring Civic Building and Fillmore Silver Spring live music venue and several high-rise residential build- ings were completed, and the American Film Institute Silver Theatre and Cultural Centre opened just down the street from the mall. An outdoor ice skating rink also was constructed. Today, with some 8 million square feet of office space in the central business district, a daytime office population of more than 40,000 can walk to Ellsworth Place. The downtown also boasts eight hotels, housing more than 1,100 rooms. In addition, the site is accessible from Washington D.C., via the Red Line, the oldest and most-used in the area's Metro system. A planned new line from Bethesda, Maryland, scheduled to open in 2019, also will stop in the city. Silver Spring has the busiest bus depot in met- ropolitan Washington, D.C., with more than 60,000 riders daily. All of that density and activity, how- A rendering showing the vertical nature of Ellsworth Place. 265 SHOPPING CENTERS 1990 -2015 25 th ALABAMA FLORIDA GEORGIA NORTH CAROLINA SOUTH CAROLINA TENNESSEE LEASING | INVESTMENT SALES | MANAGEMENT The Loop | Kissimmee, Florida 434,909 Square Foot Retail Center 2 6 5 S H O P P I N G C E N T E R S 20 MILLION SQUARE FEET LICENSED REAL ESTAE BROKER WWW.CROSSMANCO.COM

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