KLNB RETAIL BROKERS LEASES WITH UNLEASHED BY PETCO AND PHENIX SALON SUITES AT UNIVERSITY TOWN CENTER IN HYATTSVILLE

BALTIMORE, MD (March 27, 2014) – KLNB Retail has brokered two leases totaling more than 9,000 square feet of space at University Town Center, a new 82,000 square foot retail center located within the Hyattsville and College Park sections of Prince George’s County. A project of Pittsburgh-based ECHO Real Estate Services Company, the center will be anchored by Safeway and include numerous complementary restaurants and retailers. Ryan Wilner and Ryan Minnehan of KLNB Retail are overseeing the marketing and leasing activities for this project which is expected to be delivered in late 2015.

The KLNB Retail team recently brokered a 4,600 square foot lease with Unleashed by Petco, a new “urban-tailored” brand of the national chain serving the pet category, which will be located within a free-standing building near the entrance of the shopping center. In addition, KLNB Retail brokered a 4,500 square foot lease with Phenix Salon Suites, a “boutique salon suite concept” serving both the male and female audiences. Approximately 15,000 square feet of space remains available for lease.

University Town Center fronts on East-West Highway (MD Route 410) and is positioned at the intersection of America Boulevard. The project is located within one mile of the University of Maryland at College Park and is diagonally adjacent to the Prince George’s Plaza Metro station.

Approximately 1.3 million square feet of commercial office space is contained within University Town Center, in addition to a 910-bed university student housing tower, and more than 1,000 new, luxury apartments are within close proximity. Nearly 200,000 people reside within a three-mile radius of the project, including more than 60,000 separate households.    

“The Hyattsville and College Park sections of Prince George’s County are rapidly changing, as numerous development groups and investors are recognizing the significant growth opportunities presented by drivers such as the University of Maryland at College Park,” explained Ryan Wilner, principal with KLNB Retail. “A strong feature of this activity is the current wave of residential development projects that provide convenient access to the Prince George’s Metro station and regional mall. ECHO Realty is proceeding with this development to provide new retail choices to the emerging population in this section of Prince George’s County. University Town Center has a strong anchor tenant in Safeway and is perfectly positioned to leverage the outstanding demographics that currently exist in the immediate area, and the expected influx of new population.”

ECHO Real Estate Services Company is a division of ECHO Realty, a full-service, privately-owned developer and manager of commercial real estate with offices in Pittsburgh, Indianapolis and Washington, D.C. The company owns and manages more than 160 properties totaling more than eight million square feet of space, with a focus on grocery-anchored shopping centers and power centers. For more information, visit www.echorealty.com

            KLNB, LLC is comprised of two real estate services companies that include NAI KLNB, a division that focuses on the sale and leasing of commercial office, industrial and warehouse properties, as well as KLNB Retail, which specializes in the sale and leasing of retail properties as well as tenant representation. The company also provides a full range of integrated brokerage, sales, financial, investment and strategic advisory services to the commercial office, industrial and retail marketplace.