Simon Property Group Inks 67 KSF Lease in Maryland

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Maryland-based retailer of home furnishings and flooring Tim’s Furniture Mart has signed a 67,320-square-foot lease at Simon Property Group’s Hagerstown Premium Outlets retail property in Hagerstown, Md. Lee & Associates brokered the agreement on behalf of both parties.

Tim’s Furniture Mart will assume the free-standing space previously occupied by Wolf’s Furniture as the company prepares for the opening of its new store this summer. The retail will be joining the existing tenant roster including adidas, Brooks Brothers Factory Store, Gap Outlet, J. Crew Factory, Kate Spade New York, The North Face, Polo Ralph Lauren Factory Store and Under Armour.

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Situated at the crossing of Interstate 70 and Maryland Route 65, the Hagerstown Premium Outlets spans an area of 485,000 square feet. This open-air retail property features 100 stores and serves a population of 250,000 customers within a 15-mile radius, according to Simon Property Group.

Lee & Associates Senior Vice Presidents Bill Harrison and Steve Weiss, along with Associate Ben Brooks brokered the lease on behalf of the landlord and the tenant.

As consumers persistently strive to enhance and transform their living spaces to accommodate new or expanded purposes, the furniture retail category retains its strong momentum, said Sam Saleh, founder of Tim’s Furniture Mart, in a prepared statement.

Remote work continues to be a prevalent choice, and this translates into the need to incorporate a home office or upgrade existing spaces such as bedrooms or living areas to accommodate office furniture, he added.