belk
REAL ESTATE

Maryland mall transformation is nearly complete

BY Al Urbanski

Three department store anchors left Valley Mall in Hagerstown, Md., but only two years later the vacated space is nearly all leased up.

Onelife Fitness, which offers dynamic turf workout areas, HydroMassage, and indoor and outdoor salt water swimming pools, opened this month in 70,000 sq. ft. of that space. It joins Tilt Studio in the former Macy’s box, with its entertainment menu of bowling, laser tag, and arcade games.

Dick’s Sporting Goods, meanwhile, has signed a lease for 59,000 sq. ft. of a Sears box recaptured by owner PREIT, with a planned opening in spring of 2020.

Last October, the region’s first Belk department store opened in 123,000 sq. ft. of the former Bon-Ton store, just nine months after the bankrupt retailer departed Valley Mall.

“PREIT’s ability to remain ahead of the curve and create a portfolio that is attractive to new tenants and facilitate a vision has written a successful transformation story for Valley Mall,” said Joseph Coradino, CEO of PREIT.

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