Monday, September 21, 2015

Cost Plus World Market, Buybuy Baby Lease in Montco

by Steve Lubetkin,
Two premier retailers, Cost Plus World Market and buybuy BABY, will have a new home this winter in Montgomery County at The Goldenberg Group’s Water Tower Square, where they will be joining a national retail tenant lineup including The Home Depot, Planet Fitness, Office Max and Frank Theaters.

The Cost Plus World Market will lease 17,972 square feet and Buybuy BABY will lease 23,060 square feet.

“The Goldenberg Group is constantly working to keep our shopping centers vibrant by consistently delivering best-in-class retailers to our communities and the customers we serve,” says Adam Rosenzweig, the company’s senior vice president for leasing & asset management. “We are pleased and excited to bring these marquee retail brands, Cost Plus World Market and buybuy Baby, to the residents of Montgomery Township.”

Cost Plus World Market currently operates more than 270 stores nationwide. The grand opening of the Water Tower Square store will mark the retailer’s first store in Pennsylvania.  Cost Plus World Market offers unique, authentic, affordable items for home d├ęcor, home entertainment, and gift giving imported from across the globe.

Buybuy BABY is a specialty retailer for new and expectant parents providing a wide assortment of baby gear, furniture, feeding essentials and other products for pregnancy, parenthood, toddler transitions, and other childhood needs. The company operates more than 100 locations nationwide. Water Tower Square will be its first location in the suburbs of Philadelphia.

Both Cost Plus World Market and Buybuy BABY are wholly owned subsidiaries of Bed Bath & Beyond, with whom TGG has a 20-plus year working history.

Bed Bath & Beyond recognized the Water Tower Square shopping center location and trade area demographics as an ideal match for both of these popular retail brands. Situated at the “5 Points” intersection, the hub of Montgomery Township’s business district, Water Tower Square has 262,788 square feet of gross leasable area and is easily accessible from Route 309, Horsham Road, North Wales Road, and the Route 202 Bypass.

TGG says it will now focus on securing a restaurant for the allowable 5,500 square foot pad on the corner of Horsham and North Wales Roads.

“Now that our existing shopping center is 100% leased, we will work to bring a restaurant to the property that will drive additional traffic while providing a new dining experience for the neighborhood,” says Rosenzweig.

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