The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at more than $2 billion, announced that Save-A-Lot, one of the nation's leading extreme value, carefully selected assortment grocery chains and a division of SUPERVALU (NYSE:SVU), has signed a long-term, 20,000-square-foot lease for a new store at Church Square Shopping Center. The center which is located at 929 North Caroline Street in East Baltimore, Md. is a joint venture of The Hampshire Companies and MCB Real Estate.
“Save-A-Lot is committed to building stores in neighborhoods that want convenience and access to fresh, nutritious food at a great low price,” said Bill Shaner the company President and CEO. “We are proud to be a member of the east Baltimore community and look forward to serving budget-conscious, value-seeking families in the area.”
Located in close proximity to Johns Hopkins Hospital’s Main Campus, Save-A-Lot’s lease will provide the east Baltimore area with the in-demand amenities and convenience that it was previously missing. Since acquiring the building in 2009, Hampshire and MCB Real Estate have undertaken steps to reposition the property and restore it as a thriving retail center that will benefit the surrounding community. The new lease with Save-A-Lot will be accompanied by additional cosmetic upgrades designed to enhance the center’s overall shopping experience and ultimately culminate Hampshire and MCB’s repositioning efforts.
“We focused our efforts on repositioning the property in order to attract the right tenant for the center and for the community,” said Rob Schmitt, a Principal of The Hampshire Companies. “As a result we were able to secure a tenant that will provide the surrounding area with a much needed convenience and service and will help to transform Church Square into a thriving retail center.” “Save-A-Lot will meet the key needs of a community much in need of grocery and other basic amenities,” added David Bramble, one of MCB’s Managing Partners, “When we acquired this center the local community’s leaders, led by City Council President Bernard C. "Jack" Young, made it very clear that the community was seeking a grocery store to stabilize this important neighborhood center. We are glad to know that we are one step closer to achieving this goal.”
Larry Hoffman and Scott Yurow of H&R Retail are the exclusive leasing agents for the shopping center.
About MCB Real Estate
MCB Real Estate is a Baltimore-based real estate investment firm which acquires retail, industrial and office assets in East Coast markets. Additional information on MCB is available at www.mcbrealestate.com.
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.
Save-A-Lot , a SUPERVALU (NYSE: SVU) company, is one of the nation’s leading hard discount, carefully selected assortment grocery chains, operating 1,200 stores in 39 states from Maine to California. Serving more than five million shoppers each week, Save-A-Lot offers a savings of up to 40 percent on groceries when compared to conventional stores. Customers enjoy savings on exclusive Save-A-Lot brands and national brands, plus fresh meat and farm-fresh fruits, vegetables and dairy, along with the most popular grocery and household items. Save-A-Lot helps its customers live richer, fuller lives by saving them money and time through a smart, convenient shopping experience featuring great food, great prices and great people every day. For more information on Save-A-Lot or to locate a store, please visit www.save-a-lot.com.
R&J Public Relations