LAUREL, MARYLAND — H&R Retail, a Washington-Baltimore based retail real estate services company, announced it recently brokered two major lease transactions with Michaels and Staples to open stores at Laurel Lakes Centre. In addition, Red Lobster has executed a lease and will construct a freestanding restaurant at the center.

According to H&R Retail Principal Jim Crilley, "The leases fit into the plan to redevelop and re-merchandise the center. The new retailers will certainly strenghten and complement the existing tenant mix." H&R Retail brokers David Ward, Geoff Mackler, and Mr. Crilly handled the lease transactions on behalf of the center's owners, Laurel Lakes, LLC.

Laurel Lakes previously contained a movie theater and a K-Mart. H&R was retained by the new ownershi to replace the vacated tanants and bring in retailers that would revitalize the center. Last year, Lowes Home Improvement Warehouse, an H&R Retail client, opened a 163,000-square-foot store at Laurel Lakes.

The Michaels and Staples leases are part of H&R Retail's efforts to balance the center's tenant base with retailers in the 20,000 to 30,000-square-foot range. The stores will open some time next year. H&R is negotiating with other national retailers to complete the re-tenanting of the center.

The 420,000-square-foot center is located at Route 1 and Cypress Lane. Existing tenants include Safeway, Best Buy, Lowes, and Hallmark, as well as a number of other restaurants and service uses.

About H&R Retail
H&R Retail, with offices in Timonium and Chevy Chase, Maryland, is the largest retail-only brokerage firm in the Washington, D.C./ Baltimore metropolitan area. The firm exclusively represents over 65 properties and over 40 retailers and restarants. In addition, a variety of national big box and chain retailers exclusively utilize H&R's services to assist with expansion plans throughout the region.