Washington Prime Group Inc. (fka WPGGQ)

[Enterprising Investor]

Washington Prime Group Bringing New Lifestyle Tenants to Bowie Town Center, including Party HQ, an 18,000 SF Entertainment Destination (10/03/18)

COLUMBUS, Ohio, Oct. 03, 2018 (GLOBE NEWSWIRE) -- Washington Prime Group Inc. (NYSE: WPG) is enhancing the guest experience at Bowie Town Center, a hybrid Tier One property, and adjacent Bowie Town Center Strip, an Open Air property, located in Bowie, Maryland (collectively as “Bowie Town Center”), through the addition of new lifestyle tenancy including Party HQ, an approximately 18,000 square foot family-friendly entertainment concept. Bowie Town Center is anchored by a dynamic mix of retail, dining and entertainment uses, as well as grocery, fitness, wellness and beauty services.

Lou Conforti, CEO and Director of Washington Prime Group stated: “Whenever we have the opportunity to work with seasoned local entrepreneurs who understand, appreciate and, most importantly, respect the specific desires of a demographic constituency, the asset in question is always better served. Party HQ checks the aforementioned boxes and then some as they prepare to deliver their exciting entertainment concept to Bowie Town Center. As their motto is ‘best party from the Beltway to the Bay’, I’m looking forward to laser tag and bowling, albeit one handed as my other will be reserved for crab cakes.”

Conforti added: “Bowie Town Center guests, both existing and potential, deserve a more robust roster of goods, services, entertainment and dining. It is our objective to address these requirements via tenant diversification and common area activation which will reaffirm Bowie Town Center as the town center for this vibrant community. We look forward to further nurturing relationships with Bowie State University (shout out to the Bulldogs football team with four wins and one loss); the City of Bowie whose public officials have been proactive partners as we continue to rejuvenate this asset; the abundance of cultural, governmental and educational institutions within the immediate area; and every single resident who calls Bowie, Maryland their home.”

Washington Prime Group is executing its strategy of adding more lifestyle tenancy as a key element to enhancing the guest experience, driving guest traffic and extending duration of visits to its town centers. Lifestyle tenancy includes dining, entertainment, home furnishings, grocery, fitness, wellness and beauty services. As of August 31, 2018, the Company has leased over 2.7 million square feet throughout its total portfolio, which includes inline and anchor space, of which 64% of new leasing activity was to lifestyle tenancy.

Party HQ, a new concept created by locally-owned Sky High Sports & Entertainment, LLC, will offer the Bowie community and surrounding areas in-demand entertainment options including bowling, laser tag, arcade games, climbing walls, and virtual reality experiences. In addition, Party HQ will offer guests a full-service restaurant and lounge area, serving popular food, beer, wine and specialty cocktails. Party HQ will replace the food court at Bowie Town Center, adding new and differentiated uses for its guests. Party HQ expects to open in summer 2019.

Rodney Chambers, Sky High Sports & Entertainment Managing Partner stated: “Party HQ is sure to be the best party from the Beltway to the Bay.”

A group of restaurants including Chipotle Mexican Grill, First Watch, Five Guys Burgers and Fries, Jimmy John’s, Longhorn Steakhouse, Noodles & Company, Olive Garden, Panda Express, Panera Bread, Potbelly Sandwich Works, Red Robin Gourmet Burgers and Brews, Sardi’s Chicken, Starbucks, Three Brothers Italian Restaurant and Wing Stop are among the many food and beverage options offered at Bowie Town Center. Along with Mezeh Mediterranean Grill, which is currently under construction to open soon, and BJ’s Restaurant and Brewhouse, located on an outparcel, Party HQ further solidifies Bowie Town Center as the area’s food and beverage destination.

Tenants at Bowie Town Center that have recently opened new or remodeled locations include KicksUSA, an urban footwear and apparel retailer; Vivi Trendsetter, a Maryland-based fashion boutique; Overdue Recognition Art Gallery, offering an impressive display of African American art; as well as numerous local tenants offering wellness and beauty services. Other tenants expected to open later this year include All In Adventures, the ultimate escape room experience, and Sola Salon Studios, one of the largest, fastest-growing salon studio businesses in the country.

To further demonstrate its commitment to the Bowie community, the Company plans to renovate the children’s play area and green spaces at Bowie Town Center. New public restrooms will also be added.

Bowie Town Center enjoys a large trade area that covers the eastern half of Prince George’s County and the western portion of Anne Arundel County. Trade catchment area reaches the large suburban population between the Interstate 495 Beltway and the western portion of the Annapolis market.

One of the leading employers in the area is Andrews Air Force Base, which employs approximately 15,000 people. Bowie Town Center neighbors Inovalon, a leading medical informatics service provider with over 2,000 employees. The town center is also conveniently located across the street from approximately 190,000 square feet of Class A office space at the intersection of Route 197 and Northview Drive. In addition, NASA’s Goddard Space Flight Center is located nearby.

Bowie Town Center is less than a 20 minute drive from the University of Maryland and its student population of over 38,000. In addition, the trade area is home to entertainment destinations such as Six Flags theme park, just 2.5 miles away and Prince George’s Stadium, home of the Bowie Baysox, the Double-A affiliate of the Baltimore Orioles.

About Washington Prime Group
Washington Prime Group Inc. is a retail REIT and a recognized leader in the ownership, management, acquisition and development of retail properties. The Company combines a national real estate portfolio with an investment grade balance sheet, leveraging its expertise across the entire shopping center sector to increase cash flow through rigorous management of assets and provide new opportunities to retailers looking for growth throughout the U.S. Washington Prime Group® is a registered trademark of the Company. Learn more at www.washingtonprime.com.

http://globenewswire.com/news-release/2018/10/03/1601027/0/en/Washington-Prime-Group-Bringing-New-Lifestyle-Tenants-to-Bowie-Town-Center-including-Party-HQ-an-18-000-SF-Entertainment-Destination.html?f=22&fvtc=4&fvtv=44195