Tim’s Furniture Mart Signs 67,320 SF Lease at 100-Store Hagerstown Premium Outlets, with Plans to Open this Summer

Lee & Associates | Maryland, which won leasing contract to fill this vacancy in late 2021, brokers lease on behalf of owner Simon Property Group 

(Photo credit: CoStar Group)

Tim’s Furniture Mart, a Maryland-based retailer of home furnishings and flooring, has signed a lease with Simon Property Group for 67,320 square feet of space within Hagerstown Premium Outlets, a 100-store outdoor property in Hagerstown, Maryland. Lee & Associates | Maryland, a fully-integrated commercial real estate brokerage and management firm, which was awarded the leasing assignment to fill this vacancy in late 2021, represented the landlord in this transaction. Bill Harrison and Steve Weiss, Senior Vice Presidents, as well as Ben Brooks, Associate with Lee & Associates brokered the lease. Tim’s Furniture Mart intends to open within the 485,000 square foot outlet center, located at the intersection of Interstate 70 and MD Route 65, this summer.

Tim’s Furniture Mart is assuming the free-standing space, which offers roadside visibility from Interstate 70, and was formerly occupied by Wolf’s Furniture. For a short time, the building was most utilized by the Maryland Department of Health to administer COVID-19 vaccines.

Tim’s Furniture Mart was founded by Kevin Nguyen and Sam Saleh with the intention of simplifying the furniture buying experience and offering tremendous value to customers. The concept is differentiated from its peers by the ability of customers to leave the store with its furniture purchases, rather than waiting many weeks or months to receive a shipment from overseas. The owners of Tim’s Furniture Mart have more than 30 years of experience each in the industry.

“The furniture category remains extremely robust as consumers continue to invest in their places of residence with updates, improvements and renovations to reflect new or expanded uses,” explained Sam Saleh. “With remote work remaining popular, this means the addition of a home office or the redesign of a bedroom or living space to accommodate office furniture. With people generally spending more time at home, consumers are looking for ways to upgrade or change their furniture. Hagerstown Premium Outlets is a high-visibility development, among the most visited shopping venue in the State of Maryland and the perfect location for our furniture concept.

Hagerstown Premium Outlets features tenants such as adidas, Brooks Brothers Factory Store, Gap Outlet, J. Crew Factory, Kate Spade New York, The North Face, Polo Ralph Lauren Factory Store and Under Armour. It is located 70 miles from both Baltimore and Washington, D.C, with nearly 250,000 consumers residing within a 15-mile radius.

“Based on the former use of the space, Tim’s Furniture Mart faces minimal tenant build-out in order to execute its real estate plan, which will feature a large open-space layout with an emphasis on displaying as much inventory as possible,” stated Bill Harrison of Lee & Associates Maryland. “The furniture store category, in recent years, has been benefitted from the desire among consumers to update or change their home furnishings, with new needs developing during the healthcare crisis. A person’s home also became a place to work, entertainment and sometimes educate and new furniture was needed to accommodate these uses. Tim’s Furniture Mart’s unique business model of providing goods to consumers immediately, rather than waiting for months at a time, will resonate with the ‘get it now mindset’ of shoppers.”

Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients. Visit https://www.lee-associates.com/offices/office/?id=1591