75,000 sq. ft. of retail and entertainment space is set to open at Springfield Town Center in 2023.
Springfield Town Center continues to transform into a multi-use hub and family entertainment destination for the Washington, D.C., area.
PREIT announced the signing of a 30,000-sq.-ft. Burlington Stores lease, which is expected to open this year. The mall is located in Fairfax County, Va., one of the third wealthiest counties in the U.S. (by median income), with an average household income of $161,000. It is also close to Amazon’s HQ2, and adjacent to the new TSA headquarters and Fort Belvoir.
"We are pleased to welcome Burlington Stores to Springfield Town Center, another milestone in our mission to create a diverse tenant mix including non-traditional mall retailers," said PREIT CEO Joseph F. Coradino.
The mall's diversified tenant mix includes traditional retail, full-service dining destinations, entertainment, fitness and other value retail offerings – Nordstrom Rack, Five Below, and Target.
Burlington will join several other new tenants including Lovisa, BoxLunch, Daily Thread and Carters, as well as a 32,000-sq.-ft. “next generation” Lego Discovery Center, the Ultimate LEGO Playground, co-created by Merlin Entertainment and the LEGO Group that is set to open in 2023.
Springfield Town Center will gain a record 95.5% occupancy with the openings, according to PREIT. In 2022, new tenants filled more than 20,000 sq. ft. there.
The center recently received unanimous approval from the Fairfax County Board of Supervisors for the development of 460 apartments and a 165-room hotel. Purchase agreements for the lots on which the hotel and apartments will be built have already been secured by PREIT.
The proposed multi-family and hotel developments adhere to PREIT’s policy of focusing on five core tenant segments: multi-family & hotels, health & wellness, essentials & grocery, experiential, and, retail.