14 Nov Scheer Partners Secures New Management Contract for 289,000 Square Feet
California, MD – Scheer Partners, the leading provider of fully integrated commercial real estate services in the Washington and Baltimore metropolitan areas, announces today that it has executed a new management agreement with SJS-Wildewood S.C. LP for the Wildewood Shopping Center, a 289,000-square-foot center on 36 acres in California, Md.
Scheer Partners Senior Vice President Marc Schlesinger and Senior Property Manager Charlotte Cassell are responsible for the center’s day-to-day activities.
Wildewood Shopping Center boasts JC Penney, Belk and Sears Appliances as major anchor tenants in the rapidly expanding Southern Maryland market. St. Mary’s County is the fastest-growing jurisdiction in Suburban Maryland, due to significant growth at the nearby Naval Air Station Patuxent River.
Recently, Scheer Partners Senior Vice President Sandy Hunt signed a 23,400-square-foot lease at the Wildewood Shopping Center with Bed Bath & Beyond, a significant draw for the other retailers. The Bed Bath & Beyond deal brings the center to 95 percent occupied.
Scheer Partners Management Services will oversee all of the construction-related activities for the center’s renovation to accommodate Bed Bath & Beyond, which is scheduled to open in the spring of 2014.
“We are very enthusiastic about this new relationship and believe that the Southern Maryland market offers significant potential for Scheer Partners’ integrated service platform,” Hunt says.
SJS-Wildewood S.C. LP, a New Jersey-based owner of shopping centers throughout the mid-Atlantic region, acquired the Wildewood Shopping Center in 2003.
“Bed Bath & Beyond is an important new tenant for the center, and we are happy to entrust the timely renovation and construction of its store to Scheer Partners. We are excited about the management relationship and look forward to many new, exciting changes to the center to support all of our retail activities,” says Steve Cravitz, vice president of SJS-Wildewood S.C. LP.