Our Lens

The Hampshire Companies Begin Expansion and Renovation at Fully-Leased Shopping Center in Pasadena, Md.

Improvements to Pasadena Crossroads Shopping Center are Expected to Bring Future Growth to Existing Tenants
Pasadena, Md.

The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2 billion, has announced that it has started construction and renovations at Pasadena Crossroads Shopping Center in Pasadena, Md. The shopping center is located strategically between Baltimore and Annapolis and is fully leased.

Site work at the 320,000-square-foot shopping center includes the demolition of a fast food building and a former theater as well as the reconfiguration of the parking lot, new lighting and landscaping. The renovations are taking place in connection with the addition of a new 40,000-square-foot LA Fitness facility which is scheduled to open in early spring of 2011 and a new 4,300-square-foot Chick-Fil-A Restaurant with a drive-thru which is scheduled to open in late fall of this year. Additional updates to the property include the recent renovation and Grand-Reopening of the Shopper’s Supermarket in May, 2010.

The multi-anchored shopping center is located at the intersection of Governor Ritchie Highway (MD Route 2) and Jumpers Hole Road in Pasadena, Md. The property is 100 percent occupied by a variety of big box tenants including Babies-R-Us, Kmart, Gardiner’s Furniture, J&H Party City and Rugged Wearhouse. In addition to the center’s quick access to major highways, it also offers excellent visibility and signalized access.

“Hampshire is proud to announce 100 percent occupancy at Pasadena Crossroads Shopping Center with the addition of these two new tenants, especially during a time when the number of vacancies in fast food restaurants and big box retailers is growing and many retail repositioning and growth plans have been put on hold,” said Robert Schmitt, a Principal of The Hampshire Companies. “The significant renovations and new tenancies are evidence of our past success with this suburban center and we look forward to the future growth that these updates will bring and the new conveniences that they will offer the surrounding community. This project reinforces Hampshire’s commitment to providing superior facilities and services for our tenants.”

About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at HampshireRE.com.

Tiffany Miller
R&J Public Relations