| EASTON, MD, DECEMBER 2020- Matthew Trader of Rinnier Development Company recently closed on a massive, 35,000 sqaure feet lease deal to bring Big Lots to the Tred Avon Square shopping center located on Marlboro Road in Easton, MD. Big Lots, who was represented by Shary Thur of Thur & Associates, will be backfilling the unit historically occupied by Peebles and more recently Gordmans. Gordmans had just filled the vacancy left behind by Peebles when the Pandemic hit and caused them to close. The owners of Tred Avon Square, like many landlords around the country, were about to be left with a huge void. Then Trader made a phone call to Big Lots' Broker, Shary Thur and together, they were able to negotiate a deal to quickly fill the space with Big Lots before a 25% vacancy was left at the center. The deal not only helped ownership fill a major void, but it also landed them one of the strongest retail tenants in the Commercial Real Estate industry. Big Lots is a national credit tenant with over 1,400 locations in 47 states. They are also publicly traded on the New York Stock exchange and employ over 40,000 people. Their sales have surged during the Covid Crisis. In fact, according to Bizjournals.com, Big Lots net sales for the third quarter were up a record 18% to 1.378 billion from 1.168 billion last year. This can be attributed to their stay-at-home products, like furniture and furnishings. All of which you can find at their new location in Easton, MD, when they open at the Tred Avon Square in 2021. Trader comments, “This deal was very rewarding for me because I recognize how important it is, not just for Tred Avon Square, but also the town of Easton. Landing a tenant of Big Lots caliber, not only adds a lot of value to the center but more importantly, creates a lot of new jobs for the community. I believe they are going to do exceptionally well in the Easton Market and they could not have selected a better location. Tred Avon Square is a true neighborhood shopping center with a dynamic tenant mix that I believe will complement Big Lots well. With that said, I want to give a special thanks to Big Lots' Broker, Shary Thur. This deal would not be possible without her persistence! Also, I can't say enough good things about everyone on the landlord's team. They are incredible to work with and I'm grateful for the opportunity they have given me to handle the leasing at Tred Avon Square." Matthew Trader specializes in the sale, leasing, and marketing of commercial properties. To contact Matthew, please call 443-614-4297, or email mtrader@rinnier.com. |
