From MacKenzie Commercial Real Estate Services LLC:
MacKenzie Commercial Real Estate Services, LLC is proud to announce the completion of four lease transactions at Bel Air Town Center. The transactions, completed during the last half of 2014, mark a transition for the center as the commercial retail market exits the recession. The latest tenant, Stone’s Cove Kit Bar, will join recently opened Subway, Picket Fence Tax Service, and Angel Computer Repair, when the restaurant opens later this fall.
“The Center’s “Main & Main” location at heart of Bel Air, paired with the discretionary spending of the immediate trade area, made Bel Air Town Center the logical choice for these retailers,” said MacKenzie Associate Laura Williams. Williams, along with Executive Vice President Tom Fidler, Jr. represent the Landlord.
Located in the heart of Bel Air in Harford County, Bel Air Town Center features some of the strongest demographics in the area. The 90,000 square foot (sf) retail center, comprised of two strip centers and three pad-sites, stands at the Northbound crossroads of Route 1 (Baltimore Pike) and Route 24 (Vietnam Veterans Memorial Highway). The new tenants join regional favorite Liberatore’s and Woodlea Bakery along with national chains Chili’s, Taco Bell, and T-Mobile.
“Due to the intimate nature of Bel Air Town Center, all of the tenants in the center are easily visible from Route 1 and Route 24,” said Bel Air Town Center Owner Pete McGill of McGill Development. “We are extremely pleased with the uptick in leasing activity and look forward to keeping the momentum going as we enter the new year”.
Tight market conditions in Harford County’s approximately 9,500,000 sf of retail commercial real estate currently have pushed the area’s direct vacancy rate to approximately 3.39 percent. With little sublease space available in the market, existing space is expected to fill rapidly during the first half of 2015.
For more information on Bel Air Town Center, please visit www.belairtowncenter.com.