Competitive Retail Market Strategic Action Plan

PRINCE GEORGE’S COUNTY COMPETITIVE RETAIL MARKET STRATEGIC ACTION PLAN

The Maryland-National Capital Park and Planning Commission Prince George’s County Planning Department www.pgplanning.org

2017 TABLE OF CONTENTS

Executive Summary ...... v

Introduction ...... 1 Goals and Objectives...... 4 Background...... 4

Implementation Goals ...... 15 Retail Market Strategic Action Plan Objectives...... 18 Retail Market Strategic Action Plan Overview...... 19

Retail Market Strategic Action Plan ...... 21 Strategic Action Plan Cost and Impact Metrics...... 24 Strategic Action Plan Summary Phasing Chart...... 25 Empowered Retail Business Development Strategist and Champion...... 28 Align Retail Development Policy, Planning, and Investments with Marketability...... 31 Target Retail Development Based on Unique County Attributes...... 37 Target Areas and Positioning...... 39 Baltimore Avenue Corridor...... 40 National Harbor and Vicinity...... 44 Greater Largo...... 47 Prioritize Investments to Seed Future Locations to Attract High-End Retail Over the Long Term...... 53 Repurpose or Redevelop Weaker Retail Centers...... 57 Case Study Example: Center that Can Be Improved and Remain Retail...... 65 Case Study Example: Center to be Repurposed as Other Uses...... 69 Case Study Example: Stronger Market Potential but Weaker Site Conditions...... 73 Case Study Example: Weaker Market Potential with More Challenging Site Conditions...... 77 Increase Spending Power Surrounding Targeted Retail Centers...... 79 Retail Redevelopment Tools, Incentives, and Best Practices ...... 83 Public Incentives...... 86 Foundations...... 89 Crowdfunding...... 89 Co-ops...... 91 Incentives for High-Priority Businesses...... 91 Tools for Guiding Development...... 94 Incentives for Rehabilitating Older and Historic Buildings...... 94 Disincentives for Vacant Property...... 95 Summary of Existing and Potential Tools and Incentives...... 96

Marketing Strategy ...... 99 Objective 1: Expand Outreach and Messaging to Key Stakeholders...... 101 Objective 2: Develop Marketing and Promotional Materials and Strategic Partnerships...... 106 Objective 3: Evaluate Marketing Success...... 112

Appendix ...... 115 Appendix I: Shopping Center Inventory...... 116 Appendix Ii: Main Street Retail and Mixed-Use Retail Survey...... 126 Appendix 3: At-Risk and Distressed Shopping Centers...... 129 Shopping Centers Rated “C” (At Risk)...... 129 Shopping Centers Rated “F” (Failing)...... 129 Defunct Centers...... 129 Critical Assumptions...... 130 General Limiting Conditions...... 131

Acknowledgements ...... 132 The Prince George's County, Maryland Competitive Retail Market Strategic Action Plan Steering Committee ...... 132 The Maryland-National Capital Park and Planning Commission...... 133 Special Recognition and Appreciation...... 133

EXECUTIVE SUMMARY

Prince George’s County has many competitive advantages in attracting high-quality retailers and restaurants to the County. Dynamic and growing, the County has a robust economy of varied industries and a retail market ripe with captive affluent residents that are currently not well served.

Recent higher end shopping and entertainment retailer attraction successes demonstrate strong demand from residents, employees, and visitors for high-quality shopping. The successes at Tanger Outlets, Hyattsville Arts District, and Woodmore Towne Centre demonstrate existing market potential. Even with recent new retail developments, the County still has unmet demand for higher quality retail, fueled by a strong middle class that is underserved by existing retail. Over the next five years, demographic projections estimate that the County can likely support an additional 1.8 million square feet of retail space based on projected growth in population, employment, and visitor spending.

A critical challenge for the County is shaping and targeting future growth to areas that will attract the types of high-quality retailers and development to meet underserved consumer demand, while maintaining or improving the quality of existing retail centers.

Prince George’s County has many strong retail market areas located near household density and disposable incomes that are successfully supporting retail centers. In addition, key mixed-use and commercial nodes and clusters are primed to attract higher quality development, while other areas are in the process of adding the household and employment density that will further drive retail demand. These areas could support the actively expanding “attainable luxury” tenants, which is an important aspect of meeting Prince George’s County’s economic development goals. Overall, every trade area in the County can support additional high- and mid-quality tenant offerings.

While the Prince George’s County retail market demonstrates moderately strong market performance on a macro- level, some of the underlying market fundamentals are much weaker. Countywide, vacancy rates are low and net absorption has kept pace with new deliveries; however. a significant challenge for retail in Prince George’s County pertains to quality more so than to quantity. On the surface, the County is not significantly over-retailed relative to the national or regional average retail square feet per person, but the average productivity (sales per square foot)

vii

Prince George’s County Competitive Retail Market Strategic Action Plan EXECUTIVE SUMMARY

of that retail space is currently less than in other comparable environment, build on key strengths and tools that can be counties in the Washington-Baltimore region. The County leveraged, and articulate a strategic toolkit of actions and is over-supplied with retail businesses offering products and approaches. The goal of the plan is to help policy makers, services at price points for which market demand is thin, and elected officials, and business leaders enact the policy under-supplied with those for which unmet retail demand changes and programs necessary to strengthen and diversify exists. the County’s local and regional retail base and help guide future commercial and residential development and land New retail centers built since 2006 have demonstrated strong use decisions. The retail strategic action plan also provides market absorption, but are often cannibalizing the tenants of observations and strategic actions that the County can older shopping centers, which show negative net absorption undertake to help facilitate the repurposing or redevelopment during the same period. This creates an environment where of weak or at-risk retail centers that may need to be lower quality tenants can overachieve and locate in better redeveloped or repurposed to nonretail uses. space than they would typically occupy. Local-serving retail centers in Prince George’s County display this phenomenon The Competitive Retail Market Strategic Action Plan outlines most often; many community centers contain tenants that key measures, policies, programs, and financial incentives that would be more appropriately located in neighborhood centers, the County can undertake to leverage areas of opportunity, and neighborhood centers contain tenants that would be more strengthen and diversify the County’s local and regional retail appropriate for unanchored convenience and in-line retail. base, attract and retain desired high-quality retail, and address the incidence of marginal, at risk, or failing retail centers. The Another significant challenge for Prince George’s County is Strategic Action Plan includes 6 major strategic actions, with identifying strategies to address the incidence of corridors and 26 subactions, that are all based on key areas of opportunity. shopping centers that are at risk of failing. These marginal, Each action and subaction recommends lead agencies, co- distressed, or failing centers have maintenance and repair leaders or strategic partners, a timeline for implementation, needs and are occupied primarily by locally owned tenants resource planning estimates, and concrete and actionable rather than by national or regional chains. Some centers may guidance on how to successfully implement each action. The be obsolete and lack sufficient demand to attract and support six strategic actions are as follows: better retail despite help with physical upgrades or marketing. At-risk and failing retail centers need intervention to retenant, 1. Empower Retail Business Development Champion: reposition, or repurpose the centers to enhance the health Hire a retail implementation director to centralize of the immediate retail/commercial environs. Reducing available resources, expand knowledge of local retail excess retail supply by repurposing or redeveloping the properties, and champion retailer attraction and troubled centers will boost the performance and retail market marketing efforts. competitiveness of the other centers that remain. 2. Align Retail Development Planning, Policy, and The Prince George’s County Competitive Retail Market Investments with Marketability: Create places that Strategic Action Plan is a five-year implementation strategy support the location and demographic factors to enhance designed to proactively address the economic and real estate County marketability over the long term. challenges that are negatively impacting the County’s retail viii

Prince George’s County Competitive Retail Market Strategic Action Plan EXECUTIVE SUMMARY

3. Target Retail Development Based on Unique County • Develop Marketing and Promotional Materials Attributes: Focus on the three areas, Baltimore Avenue, and Strategic Partnerships: Allow for the County to Greater Largo, and National Harbor, with the strongest effectively communicate with the members of the target marketability today to attract the upscale retailers that the audience groups. County desires and its current and future residents and • Evaluate Marketing Success: Establish tangible employees will demand. metrics to evaluate the impacts and success of the 4. Prioritize Investments to Optimize High-End Retail marketing strategy. Attraction: Create long lasting, high value places to support high-end retail over the long-term by prioritizing the investments and physical improvements that will enhance existing strong retail destinations.

5. Repurpose or Redevelop Weaker Retail Centers: Many shopping centers are no longer viable for retail uses and the County should evaluate and incentivize owners to convert these properties to other uses with stronger market potential.

6. Increase Spending Power in Surrounding Targeted Retail Centers: Maintain healthy and stable retail centers by strengthening the surrounding market with other uses, such as housing and office employment, that will increase the spending power of the retail trade area.

Additionally, this document’s final section outlines a marketing strategy that utilizes the County’s existing “Experience! Expand! Explore!” campaign to promote the findings, benefits, and programs of the Strategic Action Plan to the wider real estate and business communities. The marketing strategy offers similar, concrete implementation guidance as the strategic actions through the following focus areas:

• Expand Outreach and Messaging to Retail Stakeholders: Craft a clear and consistent message that responds to the unique perspective of each stakeholder group to build and deepen relationships.

Prince George’s County Competitive Retail Market Strategic Action Plan

INTRODUCTION

Prince George’s County has competitive advantages in attracting attainable luxury and high-quality retailers and restaurants to the County. The market is rife with captive affluent residents that are currently not well served. The attraction of high-quality retail is an important aspect of meeting the economic development goals of Prince George’s County. The County has many strong retail market areas located near household density and disposable incomes that could successfully support the actively expanding, attainable, and experiential luxury retail market for premium necessity goods of a high quality. In addition, key mixed-use and commercial nodes and clusters are primed to attract higher- quality development, while other areas are in the process of adding the household and employment density that will drive retail demand. Growth in the number of young professionals with discretionary incomes and no children is driving demand and enhancing the attraction of experiential luxury to the County. A significant challenge for retail in Prince George’s County pertains to quality more so than quantity. On the surface, the County is not significantly over-retailed relative to the national or regional average retail square feet per person. However, Prince George’s County is currently over-supplied with retail businesses offering products and services at price points for which market demand is thin and undersupplied with those for which unmet retail demand exists. Overall, every trade area can support additional high- and mid-quality tenant offerings.

Prince George’s County Competitive Retail Market Strategic Action Plan INTRODUCTION

GOALS AND OBJECTIVES • 2016 Prince George’s County High-End Retail Market Analysis 2 The Competitive Retail Market Strategic Action Plan • 2016 Prince George’s County Retail Marketability and contains implementation strategies to help the County Competitiveness Study 3 capitalize on opportunities for diversification, development, • Prince George’s County Case Studies—Marginal Retail redevelopment, contraction, or the potential transformation Center Redevelopment Scenarios (2017) of targeted retail and commercial centers into alternative uses or vibrant mixed-use economic centers of transit-oriented The Retail Market Strategic Action Plan is a five-year plan that activity, encompassing commercial (business, services, retail, includes specific policy recommendations and implementation restaurant, and entertainment), residential, or recreational strategies by targeted geographic locations, the rationale and uses. A key aspect of this strategic plan is the identification data to support those strategies, and estimated fiscal and of the most attractive locations for high-quality retail, economic impacts of recommended strategies on the County. restaurants, and development in the near-term. The competitive retail marketing strategy presents marketing This document summarizes the key findings from prior and recruitment techniques to help attract and retain high- retail analysis work in the Background section, identifies quality retailers that complement the County’s “Experience! key opportunities for the County to pursue within its Expand! Explore!” marketing strategy. Retail Market Strategic Action Plan, and recommends focus areas for the Competitive Retail Marketing Strategy in the Implementation Goals section. Action items to pursue are BACKGROUND detailed within the Strategic Action Plan and Marketing Strategy sections. Prince George’s County offers strategic places for immediate retail development and strong redevelopment opportunities Prior work and analysis to inform this strategic action throughout the County. The County has been increasingly plan includes: successful in attracting high-end shopping and entertainment • 2015 Prince George’s County Retail Market Analysis 1 in National Harbor and is growing an authentic urban shopping district in College Park, Hyattsville, and along »» Retail Market and Locational Analyses by Market Baltimore Avenue. These retail destinations are an indication Segment and Property Class/Type of strong demand from residents, employees, and visitors »» Competitive Analysis, Estimation of Market for high-quality shopping. Even with recent new retail »» Market Segment Psychographic and Demographic developments, the County still has unmet demand for higher- Profiles of the County’s Local and Regional Retail quality retail fueled by a strong middle class underserved by Trade Areas existing retail.

1 http://www.pgplanning.org/Resources/Publications/Retail_Market_Analysis.htm 2 http://www.mncppcapps.org/planning/Publications/PDFs/312/High-End percent20Retail percent20Deliverable.pdf 3 http://www.mncppcapps.org/planning/Publications/PDFs/311/Retail percent20Marketability percent20Analysis percent20Deliverable.pdf

Prince George’s County Competitive Retail Market Strategic Action Plan INTRODUCTION

Opportunity Create long-lasting, high-value places to support high-end retail over the long-term by prioritizing investments and physical improvements that will enhance strong retail destinations that already exist in the County. Create walkable places that include transit options and attract restaurants, entertainment, and retail activity.

Prince George’s County Competitive Retail Market Strategic Action Plan INTRODUCTION

The County also has a surplus of retail space, primarily located in older shopping centers, whose location and characteristics are unlikely to attract the types of tenants for which there is unmet retail demand. As new retail centers have been built, the surplus of retail space in the County creates a growing subset of shopping centers that struggle to attract and retain the high-quality tenants that residents desire. The RCLCO Prince George’s County Retail Center Redevelopment Case Study Analysis provides case studies of specific retail centers in Prince George’s County that can serve as prototypes for improving the performance of the County’s weaker shopping centers. The surplus of available space in older shopping centers perpetuates market conditions that are favorable for existing tenants by allowing them to overreach in the types of spaces they occupy at less expensive rents than what the space should command (for example, neighborhood center tenants leasing spaces in power centers). This creates conditions that make it more economically challenging for center owners to reinvest in marginalized centers to attract better retailers.

Prince George’s County Competitive Retail Market Strategic Action Plan INTRODUCTION

Opportunity

Align and coordinate policies, planning, and investments to help create places that align the location and demographic factors to enhance County marketability over the long-term.

Prince George’s County Competitive Retail Market Strategic Action Plan INTRODUCTION

The County can likely support an additional 1.8 million square feet of retail space over the next five years based on projected growth in population, employment, and visitor spending. A critical challenge for the County is shaping this growth and targeting it to areas that will attract the types of high-quality retailers and development that will meet underserved consumer demand, while slowing or stopping the pattern described above that marginalizes existing retail centers and creates underutilized space. To address the first component of the challenge—how to attract higher-quality retailers—the County needs to identify its most marketable locations that align with the people and place factors that retailers use in site selection. The main factors that retailers look for include population density, median income, and education levels. For many restaurants, daytime employment is also important. There are areas in the County that have the demographic strength to demonstrate market potential to retailers, such as College Park, and there are places that have market potential for a variety of reasons, such as transit or redevelopment potential, but will require extra effort to attract retailers.

Prince George’s County Competitive Retail Market Strategic Action Plan INTRODUCTION

Opportunity Maintain healthy and stable retail centers by strengthening the surrounding market with other uses such as housing and office employment that will increase the spending power of the surrounding area. These uses lay the ground work for attracting higher-quality retail tenants to stable shopping centers as healthy middle-income neighborhoods get stronger.

Prince George’s County Competitive Retail Market Strategic Action Plan INTRODUCTION

Today, in Prince George’s County, the areas with the highest median incomes are not the same locations with high enough household densities to attract high-end retailers. The places with strong demographic support also do not necessarily coincide with the County’s priority areas—Transforming Neighborhoods Initiatives (TNIs), Priority Investment Districts (PIDs), and Transit-Oriented Developments (TODs). This misalignment creates challenges to attracting the types of tenants that the County wants in its priority areas and that many of its consumers demand. Each of these opportunities requires a coordinated, centralized, and multidepartmental approach, and a renewed focus on how policy, planning, infrastructure, and economic development decisions may impact retail market opportunities. A centralized data input/access system that compiles all retail property information obtained from owners by relevant departments should be developed and maintained. From a property owner’s perspective, dealing with four or more departments individually may dissuade them from making improvements that require County approval or assistance.

Prince George’s County Competitive Retail Market Strategic Action Plan INTRODUCTION

Opportunity To attract high-end retail, focus on no more than three to four target areas with future development potential and the unique attributes to attract the variety and quality of retailers that the County desires, and which its current and future residents and employees will demand.

Prince George’s County Competitive Retail Market Strategic Action Plan INTRODUCTION

Opportunity

Align and coordinate policies, planning, and investments to help create places that align the location and demographic factors to enhance County marketability over the long-term.

Prince George’s County Competitive Retail Market Strategic Action Plan INTRODUCTION

OpportunityExpand knowledge of local retail properties and centralize available resources within a new position responsible for implementing the Retail Strategic Action Plan. Based on this knowledge, the person in this role would also be providing feedback on planning, investment, and other decisions that may directly impact the retail market opportunity.

Prince George’s County Competitive Retail Market Strategic Action Plan

IMPLEMENTATION GOALS

Overall, the purpose of the Retail Market Strategic Action Plan is to strengthen the County’s local and regional retail base and capture rates, provide guidance on how to better compete in the Washington, D.C. and Baltimore regions for higher-quality and high-end retail, and improve existing shopping centers within the County.

Prince George’s County Competitive Retail Market Strategic Action Plan IMPLEMENTATION GOALS

RETAIL MARKET STRATEGIC • Explore opportunities for the County to to address retail revitalization needs that cross County and city boundaries ACTION PLAN OBJECTIVES by cooperating with neighboring jurisdictions.

• Improve the feasibility of capturing high-end retail dollars The County faces some headwinds to achieve its high-end and attracting high-end department and niche market and luxury retail goals within the short-term timeframe stores to Prince George’s County. (five years) covered by this strategic plan. Specifically, the • Identify appropriate opportunities and strategies to County is located within an affluent region where the increase higher income household population density strongest demographics, densities, public transportation, and and daytime employment to support the attraction of employment are highly concentrated and existing high-end “attainable luxury” retailers to the County. retail clusters are already well established. In addition, there is a disparity between where above-average household density • Recommend recruitment strategies for high-end is located and where median household incomes are high. department and specialty stores and restaurants. This retail strategic plan will assist the County in growing and Capitalize on niche market potential. developing their own locations for high-end retail so that, • Recommend implementation strategies and actions to rather than compete against similar or better locations in attract high-quality retail to County TOD locations other jurisdictions within the region, the County can grow its and support mixed-use, transit-oriented development own unique destinations. This strategy will bear fruit over the or redevelopment. long-term but may not produce immediate gains. • Address significant unrealized development and The County is currently doing a good job of marketing its redevelopment potential, shopping center obsolescence, strengths and has been successful in attracting desirable and weak market performance, including an assessment of retailers such as Nordstrom Rack, Whole Foods, Harris Teeter, property productivity and market definition. Sweetgreen, and others. It can enhance its marketing efforts • Address the incidence of inappropriate retail sprawl or by providing a clear, data-driven story about the County’s disproportionate retail market segment saturation in recent and future growth and touting the success of major the County. Coordinate land use policies with County retailers that have recently opened in the County. Also, the retail goals in the zoning process for retail and mixed-use current “Experience! Expand! Explore!” marketing strategy development and redevelopment. should begin to segment potential retailers based on their • Recommend strategic action plans to strengthen or ideal locations and target consumers based on which of the redevelop older, marginal, obsolete, or failing retail County’s three to four target areas they best fit. centers and corridors including assessments of the Marketing can extend beyond retailers to other entities potential impacts of repurposing retail centers to involved in the County real estate market, such as realtors, nonretail or mixed-use versus alternative actions such homebuilders, and real estate developers, as these players as redevelopment. Slow the defection of creditworthy reach a broader audience who will help to build the homes, tenants from older centers. neighborhoods, and unique place aspects of the market that continue to enhance the marketability of the County.

Prince George’s County Competitive Retail Market Strategic Action Plan IMPLEMENTATION GOALS

RETAIL MARKET STRATEGIC attract the variety and quality of retailers that the County desires and its current and future residents and employees ACTION PLAN OVERVIEW will demand. Prioritize Investments to Optimize High-End Retail RCLCO has synthesized the County’s retail market objectives • Attraction (Opportunity 4): into six key strategies that organize the action items within the Create long lasting, Retail Market Strategic Action Plan based on the findings over high value places to support high-end retail over the the course of this analysis. long-term by prioritizing the investments and physical improvements that will enhance existing strong retail The first set of opportunities arise from aligning County destinations. Create walkable places that include goals and objectives with retail marketability and creating transit options and are in turn the settings that attract an extensive centralized knowledge of existing property restaurants, entertainment, and retail activity. dynamics that the County can leverage in its investments and decision making. The third set of opportunities emanates from existing retail properties and how to redevelop, repurpose, and strengthen • Empower Retail Business Development Champion the surrounding markets. (Opportunity 1): Expand knowledge of local retail Repurpose or Redevelop Weaker Retail Centers properties and centralize available resources within a new • (Opportunity 5): position also responsible for implementing the Retail Repurpose or redevelop weaker retail Strategic Action Plan. Based on this knowledge, the centers with other uses that could better serve the local person in this role would also be responsible for providing market. In some cases, this may present the opportunity feedback on planning, investment, and other policy to reshape auto-oriented shopping centers into more decisions that may directly impact the specific retail vibrant mixed-use districts or other nonretail uses. market opportunities. • Increase Spending Power Surrounding Targeted Retail Centers (Opportunity 6): • Align Retail Development Planning, Policy, and Maintain healthy and stable Investments with Marketability (Opportunity 2): Align retail centers by strengthening the surrounding market policies, planning, and investments to help create places with other uses such as housing and office employment that support the location and demographic factors to that will increase the spending power of the retail trade enhance County marketability over the long-term. area. These uses lay the ground work for attracting higher- quality retail tenants to stable shopping centers as healthy The second set of opportunities is driven by the County’s middle-income neighborhoods get stronger. changing consumer make-up and unmet demand for new, higher-quality retail. RCLCO has synthesized the County’s marketing goals into three focus areas where they can expand and improve existing • Target Retail Development Based on Unique County efforts to help address the opportunities in the Retail Market Attributes (Opportunity 3): To attract high-end retail, Strategic Action Plan (SAP). focus on no more than three to four target areas with future development potential and the unique attributes to

Prince George’s County Competitive Retail Market Strategic Action Plan IMPLEMENTATION GOALS

• Expand Outreach and Messaging to Retail Stakeholders Understand the target audience of the SAP and craft a clear and consistent message that responds to the unique perspective of each group to build and deepen relationships. • Develop Marketing and Promotional Materials and Strategic Partnerships Marketing and promotional materials and strategic partnerships will allow for the County to effectively communicate with the members of the target audience groups. • Evaluate Marketing Success Establish tangible metrics to evaluate the impacts and success of the marketing strategy. These metrics, once identified and agreed upon, should be consistently monitored to ensure that the plan is being realized in a way that is delivering value to the County and its stakeholders.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

RETAIL MARKET STRATEGIC ACTION PLAN

The Prince George’s County Retail Market Strategic Action Plan outlines key measures that the County should undertake and the process that should be performed throughout the five-year timeframe as part of the ongoing work to maintain a healthy retail market and attract desired tenants. Many of the action items should be pursued concurrently.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

STRATEGIC ACTION Key Agencies and Positions: The following groups are referenced for various action items to lead or PLAN COST AND support implementation:

IMPACT METRICS • Prince George’s County Economic Development Corporation (EDC) Each strategy outlines the key County entities to lead or support the initiative, a relative cost (minimal, low, medium, • Prince George’s County Economic Development and high), and the impact of achieving the objective (low, Corporation Retail Implementation Director (RD) medium, and high). • Prince George’s County Office of the County Executive (CEX) Cost Metrics: The following is a qualitative description and estimated cost range for the cost metrics. • Prince George’s County Council (CC) • M-NCPPC Prince George’s County Planning • Minimal: Shifting goals or priorities within an existing Department (PD) process (Less than $5,000). • Prince George’s County Department of Public Works and • Low: New allocation of existing resources or staff Transportation (DPW&T) time ($5,000–$30,000). • Prince George’s County Department of Permitting, • Medium: Some additional resources or staff time, but not Inspections and Enforcement (DPIE) a full new position ($30,000–$100,000). • Prince George’s County MD Conference and • High: Additional staffing resources or major Visitors Bureau investment ($100,000+). • Prince George’s County Redevelopment Authority Impact Metrics: Below is a qualitative description of the • Prince George’s County Department of Housing and impact metrics. Community Development (DHCD) • Low: Aesthetic or community benefits isolated to an • Municipalities (Munis) individual retail center with minimal spillover benefits to surrounding area; minimal revenue impact. • Medium: Meaningful or quantifiable results (based on rents, occupancy rates, etc.) that may be leveraged by nearby properties. • High: Critical to implementing the retail plan and achieving multiple goals; will drive long-term economic value for the County.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

STRATEGIC ACTION Legend for Table 1

PLAN SUMMARY Lead Agency PHASING CHART Economic Development Corporation (EDC) The Strategic Action Plan Phasing Chart provides an outline [Includes Office of the County Executive] of the strategy recommendations for each opportunity, the timeframe, and which County entities should lead or Retail Implementation Director (RD) participate as key partners in the implementation of each strategy. Critical first steps that should be taken immediately in executing the plan are indicated. Solid colors indicate when Prince George’s County Council (CC) actions are initiated and the duration. The hashed fill indicates actions that are ongoing and continuous after initiation. The M-NCPPC Prince George’s County Planning color of the shading indicates the group designated as the Department (PD) primary lead, as shown in the key below. Other key agency partners, co-leaders, and required participants are also listed Redevelopment Authority (RA) on the chart. Roles, responsibility or possible involvement of participant is briefly described later under each strategy. Department of Public Works and Transportation (DPW&T)

Co-Leads or Partners Prince George’s County Office of the County Executive (CEX) Department of Permitting, Inspections and Enforcement (DPIE) Municipalities (Munis) Prince George's County MD Conference & Visitors Bureau (PGCVB) Prince George’s County Department of Housing and Community Development (DHCD)

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Table 1. Prince George’s County Retail Strategic Action Plan Phasing Chart 1 2 3 4 5 Lead(s) ear ear ear ear ear mmediate

Strategic Actions Key Partners I Y Y Y Y Y 1.1 Create and fill retail director position empowered to lead the EDC implementation of the retail strategic plan objectives 1.2 Build strategic retail partnerships with key property owners, RD managers, developers, tenants, and brokers to achieve County retail objectives 1.3 Develop an interactive economic development toolbox web EDC, PD tool that functions as a resource for retail decision makers 2.1 Coordinate development policies, planning, and EDC, PD, CEX, CC investments to enhance County marketability for high quality TOD and mixed-use development 2.2 Focus on Areas with existing strong marketability to support EDC, PD mixed-use, TOD, and high-end development. 2.3 Coordinate land use with retail goals in zoning process PD, EDC, CEX, CC, Policy Decision Makers 2.4 Review high density zoning and locations PD, EDC, CEX, CC, RD 2.5 Leverage or request resources from regional agencies RD 2.6 Evaluate and identify land uses that would Repurpose Retail RD, EDC, PD, RA Space for Non-Retail Uses 3 Designate target areas for high-quality retail attraction EDC 3.1 Evaluate target area vicinity to ensure that PD general plan supports high-density housing and transportation connectivity 3.2 Fund needed transportation improvements to achieve a DPW&T, PD complete network 3.3 Identify and fill gaps in organizations needed to create EDC, PD, CC, DPIE, authentic places Munis, PGCVB 3.4 Provide full support for existing small area plans in EDC, PD, DPIE target areas 4 Create long lasting, high value places over the long-term. EDC, CEX, CC, Munis Enhance existing strong retail destinations

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN 1 2 3 4 5 Lead(s) ear ear ear ear ear mmediate

Strategic Actions Key Partners I Y Y Y Y Y 4.1 Pursue high-end tenants. Facilitate new development. RD, EDC, CEX, PD Create cohesive retail districts 4.2 Streamline the entitlement process for high priority RD, DPIE, PD retail sites 4.3 Develop and implement creative strategies to attract higher- RD quality retail 4.4 Capitalize on emerging growth areas to encourage main RD, EDC, PD street revitalization 4.5 Address disparity between household density and location of County Council, RD, high household incomes PD, EDC, RA 5 Repurpose or redevelop weaker retail centers with other uses Redevelopment Authority that could better serve the local market. (RA), RD, EDC, PD 5.1 Assess low quality centers to identify for retail, RD, RA, PD repurposing, redevelopment 5.2 Revitalize troubled centers that can be improved and RD, RA, EDC, PD, remain retail DPIE, DPW&T 5.3 Repurpose distressed or failing retail centers to nonretail EDC, RD, PD, RA, DHCD, or mixed-use DPIE, PGCVB, Developers 5.4 Partner with property owners to facility redevelopment EDC, RD, PD, RA, DHCD, DPIE, PGCVB , Developers 6 Strengthen targeted trade areas with other uses such as EDC, PD, CC housing and office employment to increase spending power surrounding target area 6.1 Identify and support needs in markets surrounding RD, PD healthy centers 6.2 Monitor neighborhoods surrounding stable centers RD 6.3 Stimulate local business development to building EDC tenant base 6.4 Build on the County’s healthy and stable centers and RD, EDC, CEX, PD, RA, corridors over the long-term to facilitate their evolution to DHCD, CC, Munis support higher-quality retail

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

EMPOWERED RETAIL BUSINESS DEVELOPMENT STRATEGIST AND CHAMPION

ExpandOpportunity and maintain knowledge 1 of local retail properties and centralize available resources within a new position.

This high-level director will spearhead the strategic implementation of the Retail Strategic Action Plan, Marketing Strategy, and related initiatives. Based on economic development, commercial real estate planning, investment, marketing, management, policy implementation, and public-private partnership expertise, the person in this role will help coordinate input from relevant stakeholders and agencies. The retail director will also provide feedback on County planning and zoning policy, development, investment, and other decisions that may directly impact retail market opportunities.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

STRATEGIC ACTIONS achieve common objectives related to reprogramming, repurposing, revitalizing, or redeveloping. 1. Retail Implementation Director • Gain in-depth understanding of owner issues and Create a Retail Implementation Director position, within objectives, and important market, site, and tenant the Prince George’s County Economic Development considerations (such as existing leases, property Corporation, whose primary role is to manage and constraints, existing building lifespan, etc.) implement the retail strategic action plan initiative. • Provide economic development tools and incentives The Retail Implementation Director will also serve as the to help improve retail landscape or repurpose sites internal orchestrator for cross-departmental initiatives and as appropriate. function as the primary point of contact for shopping center • Develop a strong retail properties knowledge database owners, managers, brokers, developers, and current and of high-, medium-, and low-quality centers located potential retail tenants in the County. The ideal person for within strategic areas for higher-quality tenants. Use this this position should have at least 10–15 years of experience information to categorize centers based on flexibility, across the fields of economic development, retail leasing, financial feasibility, and timeframe to implement brokerage, development, mixed-use development, and public- changes to the physical/form, occupancy/tenanting, and private partnerships. use characteristics. This will inform planning efforts, »» Lead: EDC incentives, and other decision making related to existing »» Timeframe: Immediate retail properties. »» Cost: Hiring costs (including talent search) and »» Lead: Retail Implementation Director and staff competitive salary for an experienced manager »» Timeframe: Year 1, then ongoing or director with a demonstrated track record for »» Cost: Medium—Primarily staff time; Estimate of 120 successful retail business attraction, planning, hours for support staff to create the database and 100 and implementation. hours to update annually. Partnership development »» Impact: High—this role serves as the steward and key will involve high level staff proactive outreach implementer for much of the action plan. ongoing activity. »» Impact: High—In-depth knowledge at the property 2. Build Strategic Retail Partnerships level is critical to building strategic partnerships and implementing and achieving the multiple goals of Utilizing RCLCOs retail inventory1 and CoStar the retail strategic plan. It will be difficult to execute property information: any retail revitalization goals without detailed, easily accessible property information. • Meet with and develop partnerships with key property owners, managers, developers, tenants, and brokers to

1 Prince George’s County Retail Market Analysis, Appendix D, Section IV, 2015. http://www.pgplanning.org/Resources/Publications/Retail_Market_Analysis.htm.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

3. Interactive Economic Development Toolbox Web Application

Create a centralized interactive web application tool that functions as a resource for decision makers that includes zoning districts linked to comprehensive descriptions of available incentives to achieve the County’s vision. Rather than just provide information by overlay/district typology, create a comprehensive summary of development programs and incentives that are available by location, and that include contact information for further information and assistance. This tool should include an up-to-date, consolidated set of tools based on the Prince George’s County Planning Department’s Economic Development Toolbox1 and other resources so that all options are available in one place and managed by one entity.

»» Lead: EDC and Planning Department »» Timeframe: Year 2 »» Cost: Low—Approximately 100 hours of GIS staff time to develop an interactive, user-friendly, and location-based web application system to showcase economic development tools, incentives, and programs. »» Impact: Low—Interactive web application tool will aid property owners, brokers, and developers in identifying and utilizing available incentives effectively.

1 http://www.pgplanning.org/Resources/Publications/2015_Economic_Development_Toolbox_Update.htm

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

ALIGN RETAIL DEVELOPMENT POLICY, PLANNING, AND INVESTMENTS WITH MARKETABILITY

CreateOpportunity places that support the2 location and demographic factors to enhance County marketability over the long term.

Retailers need strong demographics to succeed and the County should focus its retail efforts where priorities will align with strong marketability. Marketability is based on a combination of demographic and location characteristics that retailers look for when they choose where to locate, these include population density, incomes, education levels, transportation access, visibility, and daytime employment.1

1 Additional detail on how retailers apply these criteria is further discussed in RCLCO’s 2016 Prince George’s County Retail Marketability and Competitiveness Study. https://issuu.com/mncppc/docs/retail_marketability_analysis_deliv

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Plan Prince George’s 2035, the County’s approved General As the nation is over-retailed and retailers are rapidly adapting Plan, includes comprehensive recommendations for guiding to new consumer behaviors, local developers are choosing future development within Prince George’s County that aligns high-barrier-to-entry markets where they can truly create a retail development policy and planning with marketability. destination that will be unique and draw shoppers from a The general plan designates eight Regional Transit Districts, large trade area. Building in a high-barrier-to-entry market which are the focus of the County’s planned growth and reduces the risk of competition, helps prevent cannibalization mixed-use development, and which have the capacity to of tenants by nearby competitive developments, and justifies become major economic generators. Six Neighborhood the costs of investing in projects that create significant real Reinvestment Areas are designated for coordinated funding estate and community value. High-barrier-to-entry markets and resources needed to stabilize and revitalize these areas. typically indicate that the surrounding area provides very strong demographics (density, income, andeducation), Within the zoning and development review process, support supports high land values and development costs, and/or has the creation of high-barrier-to-entry markets in targeted little available land remaining for competitive development. areas and reverse the low-barrier-to-entry market trend that These market factors are sometimes, but not always, is typical for Prince George’s County suburban retail. Prince amplified by a regulatory environment that draws out the George’s County low-barrier-to-entry market for suburban approval process, effectively limiting the number of parties retail has allowed new suburban centers to proliferate willing to incur the increased cost and entitlement risk of a throughout the County, competing with nearby centers for longer timeline. limited tenants and customers, and resulting in vacant centers and centers with tenants that are overachieving. Developers report that high-end, mixed-use development with the potential to attract “true luxury” retailers requires As newer and larger shopping centers recruit tenants away long-term vision and commitment (10+ years) and a high- from older centers, value-oriented tenants and noncredit barrier-to-entry market (strong local demographics, little tenants are able to “move up the food chain” into a space that future competition) as critical success factors. Comparable was not purpose-built for their user or tenant type to occupy. developments in other jurisdictions have required 20 to 30 While this is not a trend isolated to Prince George’s County, years of patience before land values at existing retail centers the prevalence of lower-quality anchor tenants is having a would support a major redevelopment project with “true significant detrimental impact on the ability to maintain luxury” high-end retail. Even then, the developer often quality tenants at older shopping centers. The implications subsidizes the initial retail phase, with the expectation of of this are twofold: tenants that like to colocate with certain achieving premium rents for residential units or office space to anchors choose to move, and consumers experience a gap justify the upfront investment in retail. in retail offerings and are forced to shop somewhere else. In a market with plentiful new shopping center options that Demographics in some areas of Prince George’s County give tenants choices in where to locate, the physical quality indicate the opportunity for higher-quality retail. However, of space impacts a shopping center’s competitiveness for developers described the County as having lower land values, quality tenants. lots of available land, few main street districts at the center of walkable neighborhoods, and an easy entitlement process

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN for new single-use retail properties in suburban settings; all Laurel, Greenbelt, New Carrollton, Woodmore, Bowie, of these are indicators of a low-barrier-to-entry market in Largo, Westphalia, Camp Springs, Oxon Hill, and National which the risk of future competition is high. Conversely, the Harbor. These locations should meet many retailers’ basic higher density, mixed-use environments required to support location criteria, which will make it easier for high-quality upscale retailers are more expensive to build, more difficult developments in these locations to attract the desired to entitle and finance, and, at least initially, provide lower “attainable luxury” retailers. In less marketable locations, financial returns than a single-use retail property. To make shopping centers can sometimes attract quality tenants these projects worth the time and effort in any location in despite this hardship but it creates an additional challenge the region, developers need a high-barrier-to-entry market to overcome. that allows the time for a long-term investment in a catalytic project to pay off without the risk of other competitors reaping the value of their hard work. STRATEGIC ACTIONS In addition, there has been an artificially high-barrier-to- 1. Coordinate policies, planning, and investments to help entry for mixed-use and higher density projects based on a create places that align the location and demographic stringent regulatory process. Without the other market-driven factors to enhance County marketability over components associated with a high-barrier-to-entry market the long-term. described above, the regulatory process by itself is not enough to justify the risk to a developer or retailer to invest in a specific location. »» Lead: Planning Department, EDC, Office of the County Executive, Prince George’s County Council The Retail Marketability Map (Figure 2.1) shows the »» Timeframe: Year 1, Ongoing marketability of Prince George’s County compared with »» Cost: Low—Existing staff resources other areas in the region. The criteria range from Most »» Impact: Medium—Will help align tenanting goals Marketable in red (areas of the region that have the highest with market opportunity and improve quality of retail concentration of population and high-income households) tenants that these developments can attract. to Meets Minimum Marketability threshold in purple (areas with the minimal level of population and average income to attract retailers). Areas in white have insufficient population 2. Focus on Areas with Existing Strong Marketability density or incomes to become destinations for many retailers. to Support Mixed-Use, TOD, and High- The dark line outlines show the target areas identified in End Development. Opportunity 3 (Target Retail Development Based on Unique Integrate with ongoing master planning activities to provide County Attributes). realistic market guidance of when retail may be feasible Many areas of the County offer some, but not all, of the in these projects relative to other uses such as residential demographic and location factors that appeal to high- or office. quality retailers. The most marketable areas of the County »» Lead: EDC, Planning Department Department include, but are not limited to, College Park, Beltsville,

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

»» Timeframe: Year 1, Ongoing 4. Review Zoning Designations to Identify Those That »» Cost: Low—Existing staff resources Support Higher Density, Added Transportation, Better »» Impact: Medium—Will help align tenanting goals Access, and More Jobs. with market opportunity and improve quality of retail Confirm that these zones are applied to the correct locations tenants that these developments can attract. with market potential for higher density and that commercial property owners are aware of the development potential 3. Coordinate Land Use Policies with Retail Goals in the conveyed by the designation. Zoning Process to Prevent Additional Retail Sprawl and Encourage High-Quality Development Practices. »» Lead: Planning Department, EDC, CEX, CC, Retail Implementation Director For instance, if present, remove any retail and commercial »» Timeframe: Year 1, ongoing requirements for large-scale, planned-unit development »» Cost: Low—Existing staff time (PUD) or master plans in areas with low marketability. Add »» Impact: Medium—Effective by-right zoning aligned a component to development review that assesses whether with the market will reduce the development costs the proposed development is aligned with County retail for those owners considering redevelopment and goals. One example might be requiring a market study for would improve financial feasibility without needing to new proposed retail that would demonstrate support for the provide a project-level subsidy. new center and minimal impact to existing centers nearby. Develop the parameters and criteria for development review 5. Partner with, Leverage, or Request Resources from that will be necessary to implement this in a legally defensible Federal and Regional Agencies to Supplement or manner. Educate and inform policy makers on the importance Accelerate the Process of Identifying and Addressing of high-barrier-to-entry markets and their potential impact Small Area Needs. on retail sprawl and maintaining high-quality, appropriately retailed centers, or attracting high-end retail. Target such agencies as WMATA, MWCOG, Transportation/ »» Lead: Planning Department, EDC, CEX, Retail Land-use Connections Program (TLC), and ULI Technical Implementation Director, policymakers (such as the Assistance Panel (TAP) grants from MWCOG. Partner County Council); coordination with other groups with WMATA on Metro station area planning studies. Use involved in review process is required. these programs to supplement or accelerate the process of »» Timeframe: Year 2–3, Ongoing identifying a small area’s needs and how to address them. »» Cost: Low—Existing staff resources In some cases, the County may be able to cooperate with »» Impact: Medium—Will help curb defection of credit neighboring jurisdictions on programs to address revitalization worthy tenants from existing centers and stabilize needs that cross County and city boundaries. retail vacancies. »» Lead: Retail Implementation Director »» Timeframe: Year 3–5 »» Cost: Low—Existing resources to identify programs; Medium—To pay for specific programs such as a TAP

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

»» Impact: Medium—These programs can provide targeted advice for locations or retail centers in a short amount of time.

6. Evaluate Land Uses that could Repurpose Retail Space for Nonretail Uses.

Ensure that these uses are allowed by-right or with an easy variance. Some viable “location neutral” uses might include data storage centers, wholesale distribution centers, libraries, daycare facilities, sports and recreation, coworking or maker spaces, medical facilities, or commercial kitchens and food incubators.

»» Lead: Retail Implementation Director and representatives from EDC, Planning Department, and Redevelopment Authority »» Timeframe: Year 3–5 »» Cost: Low—Existing staff time to evaluate other land uses »» Impact: Medium—These uses can enhance existing retail centers and help build the consumer base in areas with weaker market potential today so that in the future they might support retail.

Prince George’s County Competitive Retail Market Strategic Action Plan M-PP

Retail MarketabilityRETAIL MapMARKET STRATEGIC ACTION PLAN Figure 2.1 Prince George’s County, MD, 2015

Map 1. Retail Marketability

altimore Avenue Focus Area

reater argo Focus Area

elow Minimum Marketability Thresholds Meets Minimum Marketability Thresholds

ational Harbor Focus Area

Most Marketable ocations

Prince George’s County Competitive Retail Market Strategic Action Plan

22 RETAIL MARKET STRATEGIC ACTION PLAN

TARGET RETAIL DEVELOPMENT BASED ON UNIQUE COUNTY ATTRIBUTES

FocusOpportunity on the three areas, Baltimore Avenue, 3 Greater Largo, and National Harbor, with the strongest marketability today to attract the upscale retailers that the County desires and its current and future residents and employees will demand.

Prince George’s County’s competitive advantages for attracting attainable luxury and high-quality retailers and restaurants to the County include a market that is rife with captive affluent residents that are underserved, strong retail market areas located near household density and disposable incomes that are successfully supporting retail centers, key mixed-use and commercial nodes and clusters primed to attract higher-quality development, and areas in the process of adding the higher income household and employment density that will further drive retail demand. These areas could support the actively expanding “attainable luxury” tenants whose business model is based on the wide market appeal of high-quality, premium- necessity goods.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

STRATEGIC ACTIONS

Designate and focus on three to four high opportunity target areas with near-term future development potential and the unique attributes to attract the variety and quality of retailers that the County desires, and which its current and future residents and employees will demand.

RCLCO recommends the following three target locations and positioning based on their market strengths and unique competitive advantages for attracting “attainable luxury” and high-quality retailers and restaurants to the County: the Baltimore Avenue Corridor, National Harbor and Vicinity, and the Greater Largo area.

Other locations that the County might consider targeting are Bowie and Laurel. However, the retail trade areas of these locations overlap trade areas of strong shopping centers in nearby Howard and Anne Arundel Counties and may struggle to reach critical mass. In addition, the Towne Center at Laurel falls within the radius restrictions1 written into many tenants’ leases at Columbia Town Center and Arundel Mills. Shopping centers in Bowie may have similar radius lease restriction challenges with tenants present at Waugh Chapel Towne Center.

»» Lead: EDC »» Timeframe: Begin designation process immediately. »» Cost: Low—Current staff time. »» Impact: High—Provides a visible and clear communication to real estate community and property owners; also, clarifies internal County goals when prioritizing resources related to retail attraction.

1 One deterrent to attracting certain tenants is the radius restrictions written into many tenants’ lease clauses that will not allow two locations within a certain distance due to cannibalization of the market.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

TARGET AREAS AND POSITIONING

Baltimore Avenue Corridor

National Harbor and Vicinity

Greater Largo

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Baltimore Avenue Corridor (Between Mt . Rainier, University of Maryland College Park (UMD), and Prince George’s Plaza TOD Area)

Map 2. Baltimore Avenue Target Area

Retail in the Baltimore Avenue Corridor is expected to continue to grow and improve as the market is actively responding to pent- up demand and uncaptured spending potential in this area.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Current Conditions—Notably, the Baltimore Avenue such as Franklin’s Brewery, Busboys & Poets, Tara Thai, and Corridor is healthy with strong growth potential. Elevation Burger are thriving in the area, serving a mostly Development is already underway along much of this nights and weekends crowd. The Hyattsville Arts District is corridor and it will increase the area’s appeal in the near-term. a lively and walkable environment for customers, and the Portions of the Baltimore Avenue Corridor have successful performance of these restaurants should begin to draw more development that is either complete or underway at locations diners to the neighborhood, which will create support for in the Hyattsville Arts District, Riverdale Park Station, additional restaurants. Other areas of the County may have University Town Center, Mt. Rainier’s main street, and the the ability to support this type of neighborhood restaurant new development occurring adjacent to the University of cluster as well. Maryland campus. The Baltimore Avenue Corridor submarket has the region’s Currently under-retailed for higher-quality tenants, retail in first TargetExpress, a Nando’s Peri, Elizabeth Arden Red Door this area will continue to grow and improve as the market Spa, Insomnia Cookies, and Franklin’s Grill and Oyster Bar, actively responds to pent-up demand and uncaptured among other retail slated to open. spending potential. Prince George’s Plaza Mall offers a prime redevelopment The Baltimore Avenue Corridor—continuing north from opportunity near transit that would enhance major retail Mount Rainier to the Hyattsville Arts District to the IKEA offerings in the area, though it is likely a long-term site that just beyond I-495—is growing rapidly with several successful will capitalize on the increasing success of other retail centers developments complete or underway. Bookending the area and new residential development in the near-term. Prince in the north, IKEA already provides a regional attraction George’s County has the seeds to establish a collection of for consumers. In total, there are 60,000 square feet of retail high-quality retail in the Route 1 corridor and should support planned or under construction in association with residential the groups that are already working independently to grow projects in the UMD area. The planned addition of high- this retail cluster. income residential units, particularly in a walkable context to retail space, is a very attractive environment for future tenants. Retail Opportunity Positioning The Hyattsville Arts District has provided this market with a High-end retail prefers to locate in vibrant, unique lifestyle new, walkable center hosting successful tenants, and the main centers and “town center” type locations. Generally, these street qualities will continue to develop and flourish. Riverdale centers must be mixed-use, walkable, and compelling Park Station, and the new Whole Foods, is following suit and environments. The Baltimore Avenue Target area has the will attract more high-quality retail. While Mount Rainier beginnings of these centers, including: does not have stable tenants today, the main street has “good • Mixed-Use Neighborhood Retail: The Hyattsville bones” and walkability and is likely to benefit from the growth Arts District reset the market in the Route 1 corridor headed north out of Washington, D.C. as a unique, interesting place that has the demand and The Hyattsville Arts District is also an example of a capacity to support high-quality housing and retail. burgeoning neighborhood restaurant cluster. Restaurants

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

• Retail Districts: The north has several developments • Recommended Retail Program Strategies: underway that have great potential to attract high- Tenants that prefer a young, educated market audience and quality retail. urban or urbanizing locations. Mixed-use neighborhood »» Hyattsville, Mt. Rainier, and other areas in the retail such as: southern Route 1 corridor already have successful »» Full-Service and Quick-Serve Restaurants (Jamba developments complete or underway. Juice, Dinosaur Bar-B-Que, Matchbox), »» Whole Foods is now open at Riverdale Park Station, »» Fast Fashion (Urban Outfitters, Zara) which is bound to attract the cotenants that are »» Upscale Fashion (Anthropologie, Alice and Olivia, often found flanking the grocery store, such as gyms, Lululemon, Madewell) restaurants, and specialty shops. »» Beauty (Bluemercury, Lush) »» The University of Maryland has attracted developers »» Fitness (Soul Cycle, Solid Core) building mixed-use buildings with retail targeted »» Grocery/Pharmacy (Trader Joe’s, Harris Teeter) to a college demographic with disposable income. »» Coffee Shops, (Caribou Coffee) This area is continuing to see new construction and »» Local Businesses such as Breweries and Specialty exciting ideas. Movie Theaters »» Long term, the Prince George’s Plaza Mall offers a prime redevelopment opportunity that would enhance this area as a destination retail district with special attention to creating a walkable environment between surrounding housing, public transportation, and other mixed-use projects nearby.

• Main Street Retail: Mt Rainier has the potential to attract higher-quality retail driven by local entrepreneurs and business people. • Retail Targets: Mixed-use neighborhood retail such as full-service and quick-serve restaurants, fast fashion, beauty, fitness, grocery/pharmacy, coffee shops, and local businesses such as breweries and specialty movie theaters. • Development Type: Mix of new development along this corridor in addition to existing “main street” style retail locations can provide varied retail environment attractive to high-quality national brands looking for authentic places. Urban TOD possible. • Target Market: Younger market audience with varied spending power.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Map 3. Baltimore Avenue Target Area Overlaid on Marketability

LEGEND Target Area  Metro Station Metro Line Marketability Thresholds Meets Minimum Marketability

Most Marketable

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

National Harbor and Vicinity

Map 4. National Harbor Target Area

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Current Conditions—National Harbor and Vicinity is a a stand-alone retail center adjacent to the mixed-use vibrant and unique waterfront mixed-use development and development (example: Tanger Outlets). regional-serving entertainment district with a thriving cluster • Target Market: Visitors, conference attendees, families in of restaurants, tourist retail, high-end hotels, a marina, the the region who may spend the day, event-specific traffic Tanger Outlets National Harbor, a major regional designer such as for a festival or holiday. discount shopping destination, and the new MGM Casino, • Recommended Retail Program Strategies: which also features high-end retail. »» Restaurant, entertainment, and specialty National Harbor has been successful in attracting higher- tenants that can attract visitor spending from quality retail and restaurants by creating its own customer conventioneers and casino as well as family-oriented base with residential and office properties. National Harbor daytrips to the waterfront or Tanger Outlets. Retail also draws traffic from nearby residents, visitors, employees, types include: and outlet shoppers. Given the density, clustering, and »» Name-Brand Restaurants, (Copperwood Tavern, anchors, the restaurants at National Harbor are performing Dean & Deluca) extremely well. As density continues to increase, the demand »» Large Entertainment Venues, (Alamo Drafthouse, for high-quality soft goods should rise accordingly. House of Blues) »» Specialty/Experiential Retail (American Girl, National Harbor’s developer, a long-term owner and Disney, Pandora) developer, is carefully phasing residential units, office »» High-End Personal Care Services (Art of Shaving) buildings, entertainment uses, and additional hotels that or Health/Beauty will build further support for the existing retail and provide »» Gifts (Dakota Watch Company, Pandora) demand for more retail and restaurants. Retail performance is expected to rise even higher as residential density continues to increase and additional tourists are drawn to the new MGM Casino.

RETAIL OPPORTUNITY STRATEGIC ACTIONS AND POSITIONING

• Retail Targets: Name-brand restaurants, large entertainment venues, specialty/experiential retail (ex: American Girl, Disney), high-end personal care services (ex: Art of Shaving) or health/beauty, and gifts (ex: Pandora). • Development Type: Primarily new development in a mixed-use format, though some retailers may prefer

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Map 5. National Harbor Target Area Overlaid on Marketability

LEGEND Target Area

Marketability Thresholds Meets Minimum Marketability

Most Marketable

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Greater Largo

Map 6. Greater Largo Target Area

LEGEND Target Area

Marketability Thresholds Meets Minimum Marketability

Most Marketable

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Current Conditions—Greater Largo has key nodes and planning will still be necessary to integrate this anchor into a submarket clusters that are primed for attracting higher- TOD that can support high-quality retail. quality development and other areas that are in the process New development at the Largo Metro Station may have of adding the household and employment density that will the opportunity to attract a high-quality niche once other further drive retail demand. These areas could support the residential, office, or medical users have reached a critical actively expanding “attainable luxury” tenants that have a mass. High-quality retail is possible, but it is likely to be a business model based on the wide market appeal of premium follower user rather than a catalyst. necessity goods of a high quality. The approximately 17,800 households that reside within the target area have a median The Woodmore Towne Centre, located on the border of the household income of over $80,000 and high education levels, submarket along I-495, and its anchors of Wegman’s and representative of the strong, yet underserved middle class in Costco, draw an additional customer base from outside the the County that can support higher-quality retail. trade area compared to other neighborhood and community centers in the retail trade area. Townhomes and single-family The target area has three Metro stops, strong traffic counts, homes immediately adjacent to the retail at Woodmore Towne good access to high-income households to the east, strong Centre will further boost the viability of smaller footprint retail marketability, a location that is increasingly popular for retailers and restaurants, likely at a higher price point than the upscale high-density housing, and a growing employment offerings today as the area densifies and truly becomes a town base. These factors should be attractive to retailers and center concept with surrounding residential. developers seeking a dynamic environment that can support higher-quality retail today and will continue to attract The Morgan Boulevard and Largo Town Center Metro the type of consumers that retailers desire over the next 5 Sector Plan Development established a Development District to 10 years. Overlay Zone (DDOZ) to ensure an attractive, quality, mixed-use, and pedestrian-friendly TOD character for these Currently, the Greater Largo target area has a healthy base areas. The DDOZ’s four primary goals, to be implemented of existing retail centers with good access and attractive through the Development District Standards are consistent tenanting. Most of the retail in this area was identified as with the goal of attracting high-quality retail to this area:1 mid- or high-quality in the RCLCO retail inventory, with 1.85 million square feet of retail across 9 shopping centers 1. Create attractive, vibrant, and mixed-use centers at and only a 6 percent vacancy rate. Almost 30,000 employees the Morgan Boulevard and Largo Town Center Metro work nearby, which can help support restaurants and provide core areas. daytime traffic. 2. Promote development at the Metro station core areas and Plans for the new Prince George’s County Regional Medical the Central Avenue Corridor Node area with a pedestrian- Center will only enhance this customer base and provide and bicycle-friendly environment to reduce the use of the critical anchor for a walkable medical district near the automobiles, and to promote the use of Metrorail or Largo Metro Station that includes redeveloped retail. Careful bus transit.

1 http://www.mncppcapps.org/planning/publications/pdfs/38/Development percent20District percent20Overlay percent20Zone.pdf

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

3. Provide a diverse mix of land uses in compact vertical and horizontal mixed-use development forms in a regional and town center design at the Morgan Boulevard and Largo Town Center Metro Stations, respectively, in accordance with the 2014 Plan Prince George’s 2035 Approved General Plan. 4. Encourage quality residential development at the Metro station core areas to expand the opportunity for living and working in theses area.

RETAIL OPPORTUNITY POSITIONING

• Retail Targets: Nationally known fashion and department stores, including off-price, destination big box, and anchor tenants; home furnishings; specialty grocer; and family-friendly restaurants. • Development Type: Suburban mixed-use or multi-use town centers easily accessible from nearby neighborhoods with ability to “park once.” The area near Largo Metro Station may also have suburban TOD. • Target Market: Local households and employees • Recommended Retail Program Strategies: Regional-serving suburban retail and lifestyle center tenants that are attracted to high-growth submarket retailer targets such as: »» Nationally Known Fashion and Department Stores, Including Off-Price (Belk, Kohl’s) »» Destination Big Box and Junior Anchor Tenants (Ulta, Pet Supplies) »» Home Furnishings (Tile Shop, Bassett Furniture, Ethan Allen) »» Specialty Grocer (Total Wine & More, Trader Joe’s) »» Family-Friendly Restaurants (Cheesecake Factory, Chuy’s, Bonefish Grill, Uncle Julio’s)

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Map 7. Greater Largo Target Area Overlaid on Marketability

LEGEND Target Area  Metro Station Metro Line Marketability Thresholds Meets Minimum Marketability

Most Marketable

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

TARGET AREAS RETAIL DEVELOPMENT structure of needed infrastructure improvements and ACTION PLAN increase in associated property value. 3. Create authentic and unique places in the three 1. Increase Higher Income Residential Density. Identify target areas through land use strategies and design locations in and near the three target areas that can guidelines. Civic and cultural uses, public space, and support upscale multifamily and attached housing to events and programming are also critical components bolster dense areas with higher incomes. of placemaking. Review and partner with appropriate Evaluate the Plan Prince George’s 2035 Approved General municipalities, nonprofits, community organizations, and Plan and any master plans or small area plans to identify property owners active within these locations and identify and address places where policy and zoning are and are any gaps where new organizations should be created or not supportive of high-density housing and transportation existing organizations should be encouraged to expand connectivity. Realign policy and zoning to allow and their reach. encourage land use that support higher-quality retail. • Lead: EDC with support from Planning Department, • Lead: Planning Department County Council, DHCD, Municipalities, DPIE (for • Timeframe: Year 1 projects that involve public spaces), and Prince George’s County MD Conference and Visitors Bureau. • Cost: Low—Existing staff time • Timeframe: Year 2, ongoing • Impact: High—Enables increased higher income housing density, which will improve locations attractiveness to • Cost: Low—Review and identify organizations; cost to attainable luxury retailers. create and fund new organizations may vary. • Impact: Medium—Provides incremental improvements 2. Transportation and infrastructure—Evaluate to property value, tenant quality, sales, and tax revenue. transportation and infrastructure needs in target areas Fiscal Impact: and fund needed improvements to create a complete and • Specific contingent upon identifying integrated transportation network. capital improvement needs and determining the financial structure. Lead: • Planning Department and DPW&T 4. Prioritize and provide full staff and financial support for • Timeframe: Year 2, ongoing implementation of existing small area plans, such as the • Cost: Low— Existing staff time to identify 2016 Prince George’s Plaza Transit District Development improvements; cost to fund each improvement will vary. Plan and the 2012 Route One Communities

• Impact: High—Creates stronger places with more value 5. Retail Market Study as outlined in their individual potential in terms of property value, tenant quality, sales, sector plans, as well as the Largo Town Center Sector and tax revenue. Plan. These plans outline key strategies to attract retail • Fiscal Impact: Potentially high. Specific fiscal to County transit-oriented development locations that implications would be based on the level and financial

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

incorporate local physical and market factors that impact their retail potential.

• Lead: EDC, Planning Department, and DPIE • Timeframe: Year 2, ongoing • Cost: Low—Existing staff time for internal prioritization. Any investments or changes recommended in the sector plans may have varying costs. • Impact: Medium—Refer to existing planning documents for impacts of any specific recommendations. • Fiscal Impact

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

PRIORITIZE INVESTMENTS TO SEED FUTURE LOCATIONS TO ATTRACT HIGH-END RETAIL OVER THE LONG TERM

CreateOpportunity long lasting, high value 4 places to support high-end retail over the long-term by prioritizing the investments and physical improvements that will enhance existing strong retail destinations.

Create long-lasting, high-value places to support high-end retail over the long-term by prioritizing the investments and physical improvements that will enhance existing strong retail destinations. Create walkable places that include transit options and are settings that attract restaurants, entertainment, and retail activity. High-end retailers prefer to locate in vibrant, unique lifestyle centers and town center-type locations. Generally, these centers must be mixed-use, walkable, and compelling environments.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Prince George’s County has the seeds of unique places within • Strong population density (and growth trajectory) and near their target areas, including the Hyattsville Arts that meets many retailers’ location criteria, including District and surrounding main street area, National Harbor, median household income, and lifestyle variables such as and Westphalia (planned). TOD is possible at New Carrollton concentration of college educated residents or median age. and Largo when other integrated uses such as residential, • Other factors such as market competition, accessibility to office, or medical office users begin to reach a critical mass. In center, and the type of center TOD areas, the retail is likely to be a follower use rather than • Nearby employment concentrations and growth a catalyst. Long term, the Prince George’s Plaza Mall offers a trajectory, especially office employment, which are redevelopment opportunity that could attract high-end retail important for attracting restaurants. as the Baltimore Avenue corridor moves more upscale. Other main streets in northern Prince George’s County have the • Community amenities such as parks, trails, cultural potential to attract a few local upscale restaurants or shops attractions, and quality schools. that can elevate the overall quality of retail in those locations. STRATEGIC ACTIONS High-value places with high-end retail and restaurants share many commonalities including density, walkability, narrow Long-term Approach—Transition strategies to act on over streets, and a cohesive transportation network. Examples the long-term so that the County can implement and plan of these places in the Washington, D.C. region include beyond five years. The evolution of successful places takes a Bethesda Row, Georgetown, the Village at Shirlington, Reston long time and the County should start seeding these places Town Center, and National Harbor. Walkable places can now without expecting immediate results. The County’s prime help the County attract the desired retail that is often lost retail locations must compete with the Baltimore-Washington to neighboring jurisdictions and improve the feasibility of region’s super prime locations with higher population densities capturing high-end retail dollars in Prince George’s County. and some of the highest incomes and education levels in the United States. Therefore, planning and implementation of Criteria for identifying where to focus resources on growing development plans should also seek to address the County’s these places in Prince George’s County should include: disparity between where above-average household density is • A complete transportation network where car, Metro, located and where median household incomes are high to help bus, bike, and walking can be integrated into a cohesive drive high-end retailer attraction to the County. multimodal system that is user friendly. • Lead: Retail Implementation Director, EDC, CEX, CC, • Visibility and passby traffic (both vehicular and Municipalities and pedestrian). • Timeframe: Year 1, ongoing • Strong access to regional employment. • Cost: Low—Existing staff time • High-quality housing in walkable neighborhoods with • Impact: Medium—creates stronger places with more small lots. value potential, as the longer customers shop the more dollars they will spend.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

STRATEGIES 3. Develop and implement creative strategies to assist development and attraction of higher-quality retail, such 1. Pursue attainable, experiential luxury tenants as outlined as a subsidy for retailers to test the market in order to for the three target areas (Baltimore Avenue Corridor, gain, or regain, confidence in the market. National Harbor, and Greater Largo) to create cohesive retail districts that offer multiple high-end tenants. This • Lead: Retail Implementation Director will help create and enforce the idea for consumers that • Timeframe: Year 2 they are visiting a shopping and retail district, not just • Cost: Low—staff time one tenant or shopping center. For example, Georgetown • Impact: Medium—Increases incentives to attract desired and Friendship Heights have both done a good job of high-quality tenants. creating cohesive retail districts as customers come to shop at a variety of places that are all well-connected 4. Capitalize on emerging growth from areas like Silver rather than just visiting one retailer. Identify and fund the Spring; Northeast Washington, D.C.; and Howard infrastructure or marketing efforts that may be necessary and Anne Arundel Counties at the County borders to create this cohesion. to get ahead of the retail opportunity. Encourage new development and revitalization of properties across all • Lead: Retail Implementation Director, EDC, CEX, land uses in Langley Park, Mount Rainier, Hyattsville, Planning Department and University Park/Riverdale areas. Promote main Timeframe: • Year 1, ongoing street organizations and business districts to help small • Cost: Low—Existing staff time commercial districts in these areas attract potential • Impact: Medium—creates stronger places with more entrepreneurs. This approach has already been successful value potential, as the longer customers shop the more in areas such as Rhode Island Ave NE in Washington, dollars they will spend. D.C.; Laurel, MD; Bowie, MD; and Hyattsville, MD.

2. Streamline the entitlement process for high-priority retail • Lead: Retail Implementation Director and representatives sites that will help knit together a cohesive retail district from EDC and Planning Department and create a unique place. • Timeframe: Year 3–5

• Lead: Retail Implementation Director, DPIE, • Cost: Low—Existing staff time Planning Department • Impact: Medium—Main streets are launching pads for • Timeframe: Year 2 desirable local businesses and restaurants, and they are a critical factor in making neighborhoods more attractive • Cost: Low—Existing staff time to potential new residents. As Silver Spring, Takoma Park, • Impact: Medium—Facilitates the types of developments and areas of Northeast Washington, D.C. become more that the County needs to attract desired tenants. expensive, some households will look for similar locations to move to in nearby areas and could easily be attracted to communities in the Baltimore Avenue Corridor.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

5. Address the County’s disparity between where above- average household density is located and where median- household incomes are high by densifying the key nodes and clusters that are being primed to attract higher- quality development. This will support the attraction of higher-quality, and ultimately high-end, retailers to target areas.

• Lead: CC, Retail Implementation Director, and representatives from EDC, Planning Department, and the Redevelopment Authority • Timeframe: Year 1–5+ • Cost: Low—Existing staff time • Impact: High—The planning, zoning, and development review processes will help lay the foundation to permit or support density in targeted areas.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

REPURPOSE OR REDEVELOP WEAKER RETAIL CENTERS

ManyOpportunity shopping centers are no5 longer viable for retail uses and the County should evaluate and incentivize owners to convert these properties to other uses with stronger market potential.

Prince George’s County has a number of corridors and shopping centers that are at risk of failing. Reducing excess retail supply by repurposing or redeveloping the troubled centers will boost the performance and retail market competitiveness of the centers that remain and position them to better serve local market demand.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

STRATEGIC ACTIONS • Encourage property owners to redevelop struggling shopping centers as mixed-use facilities. Help pair Repurpose or redevelop weaker retail centers with other property owners with developers interested in mixed-use uses that could better serve the local market. In some development and facilitate deals, providing shopping cases, this may present the opportunity to reshape auto- center owners with ongoing ownership participation. oriented shopping centers into more vibrant, mixed-use • Look for categorical redevelopment opportunities. districts or other nonretail uses. The goal is to boost the Grouping together several defunct or struggling economic performance of obsolete and underperforming shopping centers, or portions of shopping center retail centers by improving the accessibility, appearance, parcels, could make it easier to attract development and retail and business mix of the commercial property, or, interest and development financing for shopping as appropriate, reduce excess marginal-retail supply in an center redevelopment. overly saturated retail trade area. • Add one or more people with expertise in developing Prince George’s County has a number of corridors and small and locally owned businesses to the County’s shopping centers that are at risk of failing.1 These marginal, Economic Development staff. Assign each small business distressed, or failing centers have significant maintenance specialist a portfolio of distressed and defunct shopping and repair needs and are primarily occupied by locally owned centers. Each small business specialist would then get tenants rather than national or regional chains. Some centers to know the owner of each shopping center in their may be obsolete, without sufficient demand to attract and portfolio and become familiar with each owner’s goals support better retail despite help with physical upgrades for the shopping center. The small business specialists or marketing. would compile information on lease expiration dates for all shopping center tenants and would collaborate with At-risk and failing retail centers need intervention to retenant, shopping center owners and leasing agents to develop reposition, or repurpose the centers to enhance the health of retail mix plans for their shopping centers, helping the immediate retail and commercial environments. Reducing develop leads and identifying potential entrepreneurs. excess retail supply by repurposing or redeveloping the The small business specialists would work with other troubled centers will boost the performance and retail market County staff to ensure that the tools and incentives competitiveness of the other centers that remain. needed specifically for small business development are in The following are general observations and strategic place and would serve as a conduit and red-tape-cutter for actions that the County can undertake to help facilitate business owners and entrepreneurs. the repurposing or redevelopment of weak or at-risk • Expand the County’s arsenal of small business retail centers.2 development tools. The County has an impressive collection of tools and incentives to attract and support development of major employers and developers, but

1 See Appendix 1. 2 Community Land Use + Economics Group, LLC, Prince George’s County MD Retail Center Redevelopment: Case Study Analysis, 2017.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

it might benefit from a broader range of tools and »» Timeframe: Years 2, ongoing incentives specifically designed for small businesses, such »» Cost: Medium—Staff time as a forgivable loans program, a deferred loan repayment »» Impact: Low to Medium program, and a pop-up program. • Look for opportunities to place location-neutral The following strategic framework will help assess center uses in shopping centers with weaker retail market quality and market potential, as well as identify whether a conditions. These include: shopping center or retail corridor should be considered for »» Data storage centers redevelopment or retenanting with nonretail or mixed uses. »» Retail and wholesale distribution centers »» Libraries ASSESSMENT OF CENTER QUALITY AND »» Daycare facilities »» Sports and recreation facilities MARKET POTENTIAL » » Coworking spaces Assess low-quality centers relative to their market potential » » Maker spaces and site conditions to identify whether the center has » » Medical facilities unmet potential for retail or if it should be considered for » » Commercial kitchens and food incubators redevelopment or retenanting with nonretail uses. Market » » Fire departments potential is characterized by unmet retail demand, a strong » » Product assembly facilities captive market, strong drive-by market, proximity to strong • Discourage inclusion of competition clauses in big-box retail or dining magnets, a healthy occupancy rate, and a store sales contracts. Some big-box discount stores include positive public image. Site conditions are characterized by clauses in their store sales contracts forbidding entities proximity to public transit, good visibility, attractiveness of that buy their vacant buildings from re-leasing the space the center, attractiveness of the surrounding environment, to businesses that sell products in the big-box stores’ environmental health of the property, and a cooperative inventories. This can keep large commercial properties property owner. vacant for years. Approach • Work with businesses and neighborhood associations Going forward, the County can use the following framework to create marketing consortiums for major commercial to assess center quality and market potential, identify corridors. With overall coordination from County whether a center should be considered for redevelopment or staff, each marketing consortium would then design retenanting with nonretail or mixed uses, and review most and manage marketing campaigns and events for applicable strategies for each retail center. The retail center each corridor. assessment matrix (Figure 1. Retail Center Assessment Matrix »» Lead: Redevelopment Authority, Retail on page 60) is based on the graph and rating system 1 Implementation Director, EDC, Planning Department included in the RCLCO case study analysis.

1 Community Land Use + Economics Group, LLC, Prince George’s County MD Retail Center Redevelopment: Case Study Analysis, 2017.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Figure 1. Retail Center Assessment Matrix

MARKET POTENTIAL

Stronger Market Potential

Short Term Improve Improve Long Term

Redevelop

onditions Site C Site Conditions Site Conditions romising romising Challenging Challenging P Repurpose Redevelop

Weaker Market Potential

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Retail Center Assessment Matrix • Proximity to strong retail and dining magnets: Proxim- The Retail Center Assessment Matrix is intended to help ity to attractors that could provide spin-off traffic for the categorize the County’s shopping centers and commercial shopping center or commercial district. districts according to their relative market potential and • Healthy occupancy rate: Occupancy rate over 94 per- site characteristics. cent, based on RCLCO’s analysis.

At-risk or distressed shopping centers and commercial • Positive public image: The shopping center or commer- districts, plus additional centers and districts, were evaluated cial district is likely to be perceived positively by residents, based on twelve characteristics: workers, and other potential shoppers.

Market Potential Site Possibilities • Unmet retail market demand: Significant retail sales • Proximity to public transit: Within one-quarter mile of leakages that could potentially be captured by existing a Metrorail station or Metrobus stop. or new retail shops and restaurants developed in the • Good visibility: Easy to see the shopping center County. Based on RCLCO’s conclusion that the County’s or commercial district and its storefronts from central market area has greater retail sales surpluses than major thoroughfares. its northern and southern market areas—suggesting that • Attractiveness (center): Shopping center or commercial the central market area is drawing sales from the northern district is attractive and in good condition. and southern market areas—the preliminary assumption • Attractiveness (environment): Buildings, public spaces, is that there exists greater unmet retail market demand roads, and signs are attractive and in good condition. available for capture by shopping centers and commercial districts in the northern and southern market areas. • Environmental health: The shopping center or commercial district and its environs are free of • Strong captive market: Significant employment base contaminants or other environmental hazards that nearby that could boost retail sales in this shopping might make development or redevelopment difficult or center or commercial district. Based on RCLCO’s analysis complicated. The preliminarily assumption is that all of office employees by zip code in the County, the shopping centers and commercial districts evaluated are assumption is that the largest captive markets of office environmentally healthy. workers are in the Bowie, Landover Hills, Langley Park, and UMD trade areas. • Cooperative property owner: The property owner(s) or management company operates the property responsibly • Strong drive-by market: Using MD DOT traffic counts, and is generally willing to make property improvements. those shopping centers and commercial districts with Annual Average Daily Traffic (AADT) counts of 15,000 Retail centers were scored based on these 12 characteristics vehicles or over have been ranked as the strongest drive-by and then plotted on a cross-hair graph using market potential 1 markets of potential customers. as the vertical axis and site characteristics as the horizontal axis. These two axes divide the graph into four quadrants. The four quadrants are:

1 http://shagbhisdadt.mdot.state.md.us/AADT_Locator_Public/default.aspx

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

• Upper-left: Stronger market potential and positive site conditions; could potentially be improved as retail uses. • Lower-left: Weaker market potential but more positive site conditions; should be considered for repurposing as other uses. • Upper-right: Stronger market potential but weaker site conditions; good candidates for long-term redevelopment. These centers can also benefit from short-term tactical improvements while they remain retail uses. • Lower-right: Weaker market potential and more challenging site conditions; the most distressed. Should be considered for redevelopment as nonretail uses. »» Lead: Retail Implementation Director with support from Redevelopment Authority and Planning Department »» Timeframe: Years 1, ongoing »» Cost: Medium—Staff time »» Impact: Low to Medium

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

STRATEGIES FOR CENTERS THAT CAN BE marketing strategy to make the overall area more IMPROVED AND REMAIN RETAIL (UPPER- attractive to residents, shoppers, visitors, and investors. LEFT QUADRANT) • Façade Improvement Grants: Provide matching funds to improve the exterior appeal of businesses according To boost the economic performance of obsolete and to design standards. These are generally most effective if underperforming retail centers, especially in the cases of done in a short period within a concentrated area. Can centers in strong trade areas with high visibility or a strategic be funded by Community Development Block Grants location, a revitalization strategy that addresses and improves (CDBG), Tax Increment Financing (TIF), or Business access and egress, appearance, and retail and business mix of Improvement District (BID) revenues. the commercial property, should be pursued. • Infrastructure and Physical Improvements: Provide Approaches matching funds to improve site conditions such as Pursue a tenant-based revitalization strategy by attracting a signage, streetscape, access, egress, parking lots, or higher-quality anchor tenant and reinvesting in the property. other public space. Can be funded by CDBG, TIF, or This presents an opportunity for trade areas featuring a high BID revenues. proportion of shopping centers and unmet demand for • Provide dedicated funding sources: Loan guarantees higher-quality retail. Several of these opportunity sites are for investments in projects that lenders might perceive in areas near public transit stations and areas with higher as too risky. incomes, which are also typical locations that retailers • Crowdfunding: Facilitate the public to contribute new to the County may find attractive. These marginal or and provide support for new businesses or property failing retail centers likely need help with tenant attraction, improvements. There are four basic models including stabilization, façade improvement, or other similar activities. reward-based crowdfunding, equity-based crowdfunding, Addition strategies include: donation crowdfunding, and lending-based • Permit infill or out-parcel, pad-site development. crowdfunding. Reward and equity crowdfunding have seen the most success in real estate related ventures. • Focus resources on centers in strategic locations and those with better opportunities through redevelopment • Remove barriers to entry for new, high-priority or repurposing. businesses: Review existing zoning and use policies to ensure that desired businesses are permitted to locate in • Compel property owners to fill vacancies and make theses shopping centers. improvements through an aggressive combination of incentives and disincentives. • Remove barriers to infill or out-parcel, pad-site development as appropriate. Incentives: • Assist with tenant attraction: Help property owners • Marketing and Business Development within market their properties to potential tenants and Business/Retail Districts: Encourage areas with a demonstrate the potential incentives the County might concentration of small, adjacent shopping centers to collaborate on business mix and develop a cohesive

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

provide to improve the property or space if the tenant community despite the value it could add to their locates there. remaining centers. • Assist with site design and planning to improve site conditions such as signage, streetscape, access, egress, parking lots, or other public space.

Disincentives • Increase inspection and code violation fine activity frequency and amount for retail centers that do not comply with physical condition and operating standards by the health department, DPIE, DPW&T, and fire department inspections. • Adopt a vacant property ordinance for commercial properties: The current vacant property ordinance in Prince George’s County was enacted in 2009 to address foreclosed and bank-owned residential property vacancy. A new ordinance specifically targeting commercial property owners would incentivize owners to clean up and lease vacant or under-used property. Most vacant property ordinances require property owners to register, pay a fee until vacancies are filled, properly maintain the building while vacant, and maintain a defined amount of liability insurance coverage. Some may impose escalating fines, or highly specific actions, such as removing graffiti. See Washington D.C.’s VPR Ordinance as one example. »» Lead: Redevelopment Authority, Retail Implementation Director with support from Planning Department, Redevelopment Authority, DPIE, EDC, DPW&T, Prince George’s County MD Conference & Visitors Bureau »» Timeframe: Years 2, ongoing »» Cost: Medium—Cost to enforce and administer program »» Impact: Low to Medium—Some property owners will not find this a substantial deterrent and jurisdictions may not like reducing the retail space in their

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Case Study Example: Center that Can Be Improved and Remain Retail (Upper-left Quadrant) Iverson Mall • New liner buildings and other infill 3701-3745 Branch Avenue, Temple Hills, MD development: Iverson Mall’s size, and the size of its parking lot and parking garage, make it Background and Challenge possible that the site could accommodate new The mall was purchased in 2014 by America’s Realty, multi-floor, mixed-use buildings lining part or all an experienced shopping center operator with more of its Branch Avenue frontage, helping create a than 200 shopping centers in its nationwide portfolio. more engaging, pedestrian-friendly, and walkable Its relatively low $27 million purchase price (roughly neighborhood while also boosting the mall’s $43/square foot) makes it possible for America’s captive market of residents and workers and Realty to charge rent substantially lower than diversifying the products and services available. prevailing levels. At the time of the sale, America’s Infill development could be an appealing option Realty CEO Carl Verstandig said he planned to to the mall’s owner, also, who could continue to expand the mall by 127,000 square feet and to more lease space in the mall itself at low rates while aggressively market the 100,000 square-foot office generating new income by selling or leasing building attached to the mall. portions of the site to other developers and/or by participating in new development in tandem Profile with new developers, contributing the land • Anchor Tenants: Burlington Coat Factory, value as equity. Forman Mills Clothing Factory Warehouse, and Total Save. • Tenant Quality: Low • Size: 620,209 SF • Occupancy: 90 percent

Strategy to Improve as Retail Center Because the retail center is well occupied, re-tenanting the existing space will take time and it will be challenging to attract higher-quality retailers one by one as current leases expire.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Map 8. Iverson Mall Aerial View Map 9. Iverson Mall Zoning

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

STRATEGIES FOR CENTERS TO BE • Sports/recreation facilities REPURPOSED AS OTHER USES (LOWER- • Entertainment or themed activity centers or hubs for LEFT QUADRANT) youth and adults, including indoor racing, roller and ice skating rinks, climbing walls, indoor skydiving, Approach and paintball Repurpose existing center to nonretail or mixed-use. Identify, • Indoor or outdoor parks with a performance and facilitate, and pursue alternative or nonretail uses or users that community space may be viable tenants for vacant or underutilized tenant space or centers, or infill, partial, or full redevelopment. • Pools, terraces, and greenery—created from converted storm water management—which mimic natural creeks Potential tenants or uses include: • Urban type of amenities including restaurants, live music, • Medical facilities, such as doctor’s offices, urgent care, and and local festivals medical service or lab centers • Food and restaurant hubs such as independent • Tenants that may have a retail component but would restaurants, bakeries, wineries, micro-breweries, and typically occupy flex space because of the lower rent farmers markets • Co-working, flex working, or maker spaces (example: • Home improvement hubs such as artisans, independent Tech Shop) that are operated as independent businesses plumbers, painters, landscapers, and furniture repair and do not require County support • Library and offices with publicly or privately funded video • Community college satellite offices or trade school component and computer lab classrooms and labs • Old centers retrofit into new town or lifestyle centers • Inexpensive support space for nearby high-rent retailers or • Other tenants that may have a retail component advanced manufacturers (exact use of spaces might vary but would typically occupy flex space because of the but likely flex or specialized storage/distribution) lower rent (insurance, building supplies, karate/dance • Commercial kitchen or food prep incubator space; studios, etc.) could be coupled with workforce development for Incentives culinary professions • Provide dedicated funding sources or loan guarantees • Restaurant or food truck hubs for investments in projects that lenders might perceive • Light manufacturing as too risky. • Data storage • Business Assistance: Assist and encourage businesses to increase sales to existing customers, reach new customers, • Distribution center improve merchandise mix, and reduce operating expenses. • Multifamily, cooperative, or senior housing • Public/Private Partnership: Partner with appropriate • Live/work space for artists or musicians center representative to help identify, facilitate, and • Daycare/pre-school, child, adult pursue alternative or nonretail uses or users that may be

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

viable tenants for vacant or underutilized tenant space or perception of other properties in the area. Small centers, or infill, partial, or full redevelopment. businesses may, over the long-term, grow into larger • Marketing and Business Development within retailers that call Prince George’s County home and Business/Retail Districts: Encourage areas with a employ residents. concentration of small, adjacent shopping centers to collaborate on business mix and develop a cohesive marketing strategy to make the overall area more attractive to residents, shoppers, visitors, and investors. • Façade Improvement Grants: Provide matching funds to improve the exterior appeal of businesses according to design standards. Generally, most effective if done in a short period within a concentrated area. Can be funded by CDBG, TIF, or BID revenues.

»» Lead: EDC will identify business needs, help with funding, and work with appropriate owner representative and departments to assist in enhancing or repurposing underperforming retail locations. To put the above redevelopment plans into action, the following groups will need to work together: EDC, Developers, Planning Department, Redevelopment Authority, Housing and Community Development, Prince George’s County MD Conference and Visitors Bureau, and DPIE. The goal of the group would be to create incentives, help guide redevelopment, and provide support services to encourage investment and repurposing or redevelopment. »» Timeframe: Year 2, ongoing »» Cost: Low to initiate incentives—Specific site incentives or improvements may have a range of costs that could be funded through existing Economic Development Incentive Fund, Maryland Economic Development Assistance Funds, New Markets Tax Credits, or Sustainable Communities programs. »» Impact: Medium—Improvements at low-quality centers in otherwise marketable areas will raise the

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Case Study Example: Center to be Repurposed as Other Uses (Lower-left Quadrant) Dodge Plaza • Medical: Community-focused medical tenants 7700 Landover Road, Landover, MD could include some combination of urgent care, specialized, or diagnostic medical services, Background and Challenge possibly with some supportive shops and The shopping center was originally built with as a restaurants. Existing retail spaces are ideal for this grocery-anchored retail center that also included type of use because they are close to households a cinema. It had some initial success but always and have ample parking. struggled to compete with Landover Mall, now demolished, which was located only three miles away • Co-working: These tenants master-lease a and adjacent to I-495. Now Woodmore Towne Centre large space, build it out to accommodate small is the retail anchor for the Landover Road corridor. or individual office tenants, and then offer space One of the largest spaces in Dodge Plaza was based on a membership fee. These spaces originally a movie theatre, then a nightclub, and then facilitate individual proprietors or small businesses a multidenominational church, but remains vacant whose needs change frequently and can’t afford since 2010. a traditional office lease. This model is evolving beyond office space to provide specialized Profile equipment for woodworking, sewing, or other • Anchor Tenants: Landover Food, Super Beauty, quasi-flex uses, which are often successful in and Advance Auto Parts spinning off new businesses. • Tenant Quality: Low • Data storage: Large open floorplans with • Size: 111,284 SF access to fiber optic cables and a reliable power • Occupancy: 80 percent source can make for good data storage centers. These have increasingly occupied former retail Strategies to Repurpose anchor spaces and there is a growing demand for Shopping centers with large vacant or underutilized space among these operators across the country. anchor spaces can provide inexpensive spaces for One local example includes Marley Station Mall large users that can bring new jobs or services to in Glen Burnie, MD which has one fourth of its the community. These users typically need low cost space occupied by AiNET. space, so repurposing existing retail centers is a more effective strategy than building new locations to house them.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Map 10. Dodge Plaza Aerial View Map 11. Dodge Plaza Zoning

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

STRATEGIES FOR CENTERS THAT SHOULD »» Market and feasibility analysis BE REDEVELOPED IMMEDIATELY OR OVER »» High-level planning study to understand the LONG TERM (UPPER-RIGHT AND LOWER- carrying capacity of the land given different uses and potential zoning RIGHT QUADRANT) »» Comparison of current real property tax Approach revenue generated from the sites as-is to a Partner with property owners to understand what redevelopment scenario combination of zoning/entitlements, incentives, and timing • Public Improvements: Evaluate and fund off- would enable redevelopment and help facilitate or contribute site infrastructure improvements such as access, in ways that make the predevelopment process smoother and streetscape, and walkability that would improve the less costly for the property owner. Consider converting site to marketability of the site, including items such as nonretail use in overly saturated retail trade area. complete streets, marketing, water/sewer/utilities, and intersection improvements. Incentives • Zoning and Entitlements: Evaluate whether existing • Feasibility Analysis: Provide grants to aid the property zoning provides sufficient additional density to incentive owner in conducting a market study or highest and best a property owner to redevelop a cash-producing asset. use analysis for the proposed use in that location, and to A property owner must undertake substantial expense determine whether site should be redeveloped for retail, to pursue a major rezoning and assumes the risk that it nonretail, or mixed use. may not be approved. For locations where higher-density • For properties in priority areas that the County would like or mixed-use redevelopment might be feasible, consider to see fully redeveloped, the County should undertake proactively rezoning areas to eliminate this cost and risk a feasibility analysis to better understand how much for property owners and developers. new development and what types would be necessary • Transfer of Development Rights: Allow and facilitate to overcome the financial barriers to redevelopment, transfers of development rights to increase and and then compare that against what is likely market concentrate density within ideal sites for redevelopment. supportable over the next 5 to 10 years. • Design Guidelines: Provide clear guidance to • Fund Demolition Costs: Use performance bonds to property owners and developers on desired site help cover the cost of demolishing vacant or deteriorated design, then expedite the entitlement process for commercial buildings to facilitate redevelopment. desired improvements. • Marketing and Business Development within • Land Assembly: Evaluate whether small adjacent Business/Retail Districts: Encourage areas with a properties could be assembled into a more marketable concentration of small, adjacent shopping centers to larger property. This analysis should include: collaborate on business mix and develop a cohesive marketing strategy to make the overall area more »» Owners’ willingness to participate attractive to residents, shoppers, visitors, and investors. »» Estimate of acquisition costs

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

• Predevelopment assistance: Use the economic development incentive fund in support of high-priority redevelopment projects once a feasibility analysis has demonstrated the potential for new development to succeed on site. • Tax Credits: Compile and market available tax credits that would help facilitate redevelopment. »» Lead: Retail Implementation Director. To put the above redevelopment plans into action, the following groups will need to work together: EDC, Developers, Planning Department, Redevelopment Authority, Housing and Community Development, Prince George’s County MD Conference and Visitors Bureau, and DPIE. The goal of the group would be to create incentives, and provide planning and support services to encourage investment and redevelopment. »» Timeframe: Year 2, ongoing »» Cost: Low to initiate incentives—Specific site incentives or improvements may have a range of costs that could be funded through existing programs. »» Impact: Medium—Improvements at low-quality centers in otherwise marketable areas will raise the perception of other properties in the area.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Case Study Example: Stronger Market Potential but Weaker Site Conditions (Upper-right quadrant) Good candidates for long-term redevelopment. Centers • Riggs Plaza Shopping Center was developed in the can benefit from short-term improvements. 1951. Its tenants include an insurance agency, a Riggs Plaza Shopping Center barber, a Dunkin Donuts, and a dry cleaner. Like 2031–2065 University Blvd East, Hyattsville, MD the neighboring shopping center, it is perpendicular University Place to University Boulevard East. Redeveloping the site 1500–1502 University Blvd East, Hyattsville, MD so that its storefronts line the street, with secondary University Plaza West office and residential space above, would require 1425 and 1535 University Blvd East, Hyattsville, MD acquiring the adjacent buildings and redeveloping them as a consolidated site with parking behind the Background and Challenge buildings or on the street or an access lane Riggs Plaza Shopping Center, University Place, and • University Place is the smallest of the three centers. University Plaza West are representative of many small- Its tenants include a pawn shop, laundry, a dialysis and mid-sized convenience-oriented neighborhood center, and several restaurants. There is no visual shopping centers throughout Prince George’s County buffer between University Blvd. and the shopping (and throughout the Northeast Corridor). Individually, center’s parking lot. they are relatively plain—but, cumulatively, as one • University Plaza West, the largest of the three passes shopping center after shopping center, they shopping centers, is relatively unique in that it is become almost indistinguishable, erasing the corridor’s includes a two-story shopping center, with retail sense of place. businesses on the ground floor and (mostly) personal These three shopping centers, and shopping centers services businesses and offices on the second floor. like these, play an important role for their communities, It is anchored by the New Grand Mart. Other providing (usually) inexpensive space for community- tenants include an auto parts store, dollar store, serving businesses. But, collectively, their auto-centric pharmacy, Mattress Warehouse, a tax service, design erodes the characteristics that give their tailor, dentist, and several restaurants. Some of its communities a unique visual identity and a distinctive businesses cater primarily to Hispanic residents. market position. The problem isn’t generally one of business composition; it is one of the building’s detracting from a strong streetscape and walkable, mixed-use district that increases value by creating a distinctive visual identity.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Map 12. Riggs Plaza, University Place, Map 13. Riggs Plaza, University Place, and University Plaza and University Plaza Aerial Map Zoning Map

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Profile elements, and use its superior design standards to • Anchor Tenants: New Grand Mart, Super Beauty, guide development of walkable places. and Advance Auto Parts • Offer incentive grants for small improvements, • Tenant Quality: Low such as façade improvements and upgrades • Size: 111,284 SF to building signage, awnings/canopies. • Occupancy: 80 percent Aggressively publicize the incentive grants, Opportunities and provide free design assistance to interested business and property owners to ensure high- Based on sales leakage analyses for all three quality design. shopping centers—and the entire strip, between Riggs Plaza Shopping Center and University Plaza West— • Encourage development of a University Boulevard these centers have the opportunity to recapture sales revitalization organization whose responsibilities lost to other shopping areas. If the County is only will include: concerned only about “highest and best use”, without »» Create a coordinated business development regard to the need to provide affordable spaces strategy for the University Boulevard corridor for community-serving businesses (particularly those »» Developing and administering a marketing serving lower-income residents), the area within the program to promote the corridor’s business and one-mile radius could probably absorb an additional civic offerings 72,000 square feet of retail space1. However, for »» Work with business owners to improve business the County to begin reshaping the landscape to operations and visual and in-store merchandising improve its competitive position by concentrating »» Work with property owners to encourage residential and commercial activity near Metrorail upgrades and improvements stations and Metrobus hubs, it will ultimately be better for these sales absorption opportunities to be • Use light post banners to delineate nodes along pushed closer to transit hubs and for the expanses of the University Boulevard corridor. strip shopping centers to be made more attractive, Mid-term without substantially changing rent levels for existing • Use budgeted funds for ongoing capital community-serving businesses. improvements to begin infrastructure upgrades, including improving crosswalks, sidewalks, Redevelopment Strategies and landscaping Short-term • Create a TIF district along University Boulevard • Adopt the new zoning approach recommended to pay for additional infrastructure upgrades, by Clarion Associates, including its form-based

1 This is based on an assumption that the area within a one-mile radius of University Place and University Plaza West could realistically absorb 10 percent of the $251.6 million sales leakage this one-mile radius is currently experiencing, and that businesses could capture $350 in sales per square foot.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

public amenities, and business and property Austin, Texas development incentives. Many other communities are using form based codes to improve car-oriented commercial corridors. For Auto-Centric Retail Corridor example, Austin, Texas adopted a form-based code Transformation Examples to help improve the appearance of and guide future Columbia Pike development along Airport Boulevard. To stimulate Columbia Pike dates back to 1810, when the new redevelopment, the City invested in infrastructure US Congress commissioned three roads to be built improvements along the corridor, making it more from the capitol to outlying areas. As with University affordable for owners of small commercial properties Boulevard, a number of strip shopping centers to rehabilitate or redevelop their buildings. To cropped up along Columbia Pike in the second half augment the City’s infrastructure improvements, a of the 20th century, visually cluttering the corridor and property owner who is redeveloping a large shopping eroding the visual characteristics that distinguished it mall on Airport Boulevard invested in improved from other commercial corridors. storm water management infrastructure along the In 1998, Arlington County and the Columbia Pike entire corridor. In exchange, the City reimbursed Revitalization Organization (a nonprofit organization) the property owner from Tax Increment Financing initiated the development of a form-based code for revenues (the shopping mall is being redeveloped as Columbia Pike, a several-mile corridor encompassing a campus for Austin Community College). four neighborhoods. The form-based code, approved Selma, Alabama by the County’s Board of Supervisors in 2003, The four-block stretch between Selma, Alabama’s shifts emphasis from land uses to the physical form downtown and its Amtrak station was distressed, of buildings along the corridor and the design discouraging visitors arriving at the station from characteristics of public space components, such going downtown. The City therefore created an as sidewalks, crosswalks, parking, street trees, and incentive program to encourage property owners in signage. Design preferences were defined through the four-block area to make property improvements. a series of public workshops to ensure that the area Property owners who made improvements receive reflects residents’ vision. 49 cents in cash annually, for five years, for every In the 13 years since the form-based code was $100 in improved property valuation. A $50,000 adopted, Columbia Pike has been transformed improvement would therefore earn a property from a confusing corridor with low-density, single- owner a modest $1,225, but enough to stimulate use buildings and seemingly haphazard building six improvement projects within the program’s first placement to a walkable mixed-use urban street, rich three months. with amenities.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Case Study Example: Weaker Market Potential with More Challenging Site Conditions (Lower-right quadrant) Great Eastern Plaza to understand the types of businesses, facilities, 6419 Marlboro Pike, District Heights, MD or housing that will best serve community needs. The most distressed centers should be considered for Sometimes that means building on existing pieces redevelopment as nonretail. that may be working well, such as the fitness facility, or identifying other anchors that will be economically Background and Challenge viable uses. The answer will vary site to site. Great Eastern Plaza is situated perpendicular to Marlboro Pike, with a large anchor space at • Health and Wellness: Building on the popular the rear of the property with low visibility. It was fitness facility, the site could become a magnet for originally anchored by Giant Food, and then a sports-related businesses, including dance/martial Caldor department store. Now, a variety of fitness arts studios or other small facilities geared towards tenants have occupied the anchor space over the children, a sports gear consignment shop, and a past 15 years. Marlboro Pike has a long history in sports medicine or urgent care facility the development of the District Heights neighborhood • Public Amenities: a new park and recreational but has been supplanted by nearby Pennsylvania space with facilities to complement the health/ Avenue as the more highly trafficked retail corridor. fitness center could reinforce the existing In addition to its challenging layout, the center now business mix. competes with stronger grocery-anchored retail at the • Redevelopment as Residential: Work to corner of Silver Hill Road and Pennsylvania Avenue maintain the fitness center in its current space or less than 1 mile away. There are three million square within the nearby market area while redeveloping feet of retail space, far more than what is supportable the Great Eastern site with new residential. New in the market area, within one mile of Great residents will help support other businesses and Eastern Plaza. retail nearby and the tucked-away nature of Profile the site would be appealing for townhomes or apartments.Data storage: Large open floorplans • Anchor Tenants: New 24 Fitness & Basketball, with access to fiber optic cables and a reliable RoomStyle Furniture power source can make for good data storage • Tenant Quality: Low centers. These have increasingly occupied former • Size: 250,105 SF retail anchor spaces and there is a growing • Occupancy: 98 percent demand for space among these operators across Strategies to Repurpose the country. One local example includes Marley Centers that need to be partially or fully redeveloped Station Mall in Glen Burnie, MD which has one should be assessed for other market opportunities fourth of its space occupied by AiNET.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

Map 14. Great Eastern Plaza Aerial View Map 15. Great Eastern Plaza Zoning Map

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

INCREASE SPENDING POWER SURROUNDING TARGETED RETAIL CENTERS

MaintainOpportunity healthy and stable retail centers6 by strengthening the surrounding market with other uses, such as housing and office employment, that will increase the spending power of the retail trade area.

Strengthening the market surrounding healthy and stable retail centers with high quality, dense housing and office employment will increase the spending power of target areas and lay the ground work for attracting higher-quality retail.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

STRATEGIC ACTIONS Part of this process is also to target the areas that have healthy retail centers that may become the County’s future focus areas Strengthen the surrounding market with other uses such for attracting higher-end retail. Very few of the high-end retail as housing and office employment that will increase the districts in the region, such as Shirlington, achieved high- spending power of the surrounding area. end status retailers in their first 5–10 years as a retail center. These retail districts grew into that role as their location and Retailers have a general and varied set of demographic and site surrounding market matured over a 15 to 20-year horizon. criteria that they look for when evaluating potential new store By starting the process outlined below, the County can locations. The demographics are a “wishlist” and a starting proactively position its next set of high-value places so that the point for making decisions, but tenants and brokers recognize market can begin to build their value. that they do not always accurately predict which sites will be successful. 1. Healthy Centers: Support new residential and office development in the surrounding market and elevate retail Prince George’s County has some existing sites that meet these quality at the center to increase market demand. Identify demographic criteria and yet generate below-average revenues, infrastructure needs and address whether zoning in as well as some sites that support higher-quality retail but are surrounding areas is appropriate to encourage density and shy of the demographic requirements. For example, despite other uses. Provide additional resources to help maintain less optimum demographics, the Hyattsville Arts District and physical attractiveness and marketability, and improve National Harbor have been successful in attracting higher- sales, such as: quality retail and restaurants even though the respective sites do not fully meet the ideal site criteria. National Harbor a. Infrastructure (lighting, access, signage, etc.) did this by creating its own customer base with the hotels, b. Services (better bus service, waste management, residential properties, and office properties. The Arts District police visibility/safety) accomplished this by adding residential density to an area that c. Tenant incentives at lease renewal to renovate or had above-average demographics and building in an area that improve existing space already had interest and investment by local entrepreneurs. d. Expanded hours e. Relaxed zoning for restaurants to alter food/alcohol The County should seek to enhance and maintain healthy and ratio to allow for more alcohol. Expanding hours stable retail centers by strengthening the surrounding market makes the healthy center attractive and encourages with other uses such as housing and office employment local residents to stay in the County for more food that will increase the spending power of the surrounding and drink (nighttime economies) area. These uses lay the ground work for attracting higher- quality retail tenants to stable shopping centers as healthy • Lead: Planning to evaluate zoning of surrounding areas to middle-income neighborhoods get stronger. The County can permit high-density, high-end housing and employment also support property owners by helping startups and local generating uses; Retail Implementation Director to businesses grow into potential retail tenants. identify other marketability needs such as infrastructure and incentives, and may respond to specific needs identified by property owners

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

• Timeframe: Initiate Year 1–2, ongoing 3. Stimulate development and expansion of independently • Cost: Low for policy changes; Medium for infrastructure, owned businesses that meet community needs, have services, and incentives a positive impact on the County’s public image, and build value for property owners, business owners, • Impact: Medium—improved sales at centers that see local government, and the community. Beyond tenant improved tenanting or longer hours. attraction, growing local businesses will create a pipeline of future retail tenants with a desire to locate in the 2. Stable Centers: Maintain neighborhood surroundings to County, can attract a loyal market audience, and can help help support consistent customer base. Stable centers are attract other businesses or retailers to the surrounding more sensitive to neighborhood changes than proactive area. One example of the impact a well-liked local management strategies and are market dependent. While business can have is Franklins restaurant in Hyattsville, many of the below strategies are not directly within the MD, which is helping to build a concentration of local purview of agencies involved in the retail strategy plan, and regional businesses with retail components that call these actions should be viewed as complementary uses of Hyattsville home. resources within the County. Strategies to help maintain stable centers should focus on the surrounding areas and a. Remove barriers to entry for new, high-priority monitoring any changes that might disrupt an otherwise businesses. The most successful business development stable retail environment, including: programs for older downtowns and neighborhood commercial centers are those that develop a list of a. Maintain area schools and other community high-priority types of businesses, then incentivize amenities so that the neighborhood is viewed as a skilled entrepreneurs to launch these businesses. safe and attractive place to live. Most likely these will be newer start-ups, but this b. Establish the Retail Implementation Director as strategy can also encourage existing businesses in the a point of contact to communicate with property County or region to expand within Prince George’s owners to anticipate needs and concerns. County. These businesses should be past the early c. Monitor market to catch any trends that may signal incubator phase and looking for their own space. centers moving from stable to troubled, such as rising b. Help fund start-up investment costs for local anchor vacancies and falling asking rents for long- businesses that locate in priority retail centers vacant spaces. through forgivable loans, deferred loan repayment, and incentive grants. Often, the most expensive • Lead: Retail Implementation Director upfront cost for these businesses is in the specialized • Timeframe: Year 1–2, ongoing equipment and build out of the space, in addition • Cost: Low to monitor community needs; any necessary to the rent for the space itself. At this point in a improvements may have a higher cost business’ evolution, it faces a gap where properties • Impact: Low—the primary benefit will be preventing a want to offer short-term leases with little at risk, but loss of existing tenant quality or revenue. businesses need longer-term leases to support their investment. The County can help bridge this gap

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL MARKET STRATEGIC ACTION PLAN

by funding initial investments in equipment, space • Lead: Retail Implementation Director, EDC, build-out, or by guaranteeing the lease payment to CEX, RA, DHCD, Planning Department, County help secure longer-term leases for new businesses. Council, Municipalities c. Facilitate community or cooperatively owned • Timeframe: Year 1–5, ongoing into long-term businesses, especially food-related ones, in areas • Cost: Low—Staff time to implement where residents desire higher-quality grocery options but the area lacks the marketability to attract • Impact: High—Creates a virtuous cycle of places that these tenants. will continue to build value and generate higher taxes for the County. • Lead: EDC • Timeframe: Begin in Year 2, then ongoing • Cost: Low to initiate—Specific business loans or investments may have a range of costs that could be funded through existing Economic Development Incentive fund, Maryland Economic Development Assistance Funds, Military- and Veteran-owned Small Business Loan Program, or Sustainable Communities programs. • Impact: Medium to High—Build a community of local business entrepreneurs who will expand and start other future businesses within the County and help create authentic, unique places where other retailers will want to locate.

4. Identify and implement strategies and tools to build on the County’s healthy and stable centers and corridors over the long-term by recognizing one or two future places that could evolve to support higher-quality retail based on the place and location criteria described in Opportunity 4 over a 5 to 15-year timeframe. Use the marketability criteria to identify where these locations may be weaker today and lay the groundwork for how to address these challenges. Some of the necessary support may come from zoning or policy changes, while some support may be needed for physical infrastructure in the surrounding area.

Prince George’s County Competitive Retail Market Strategic Action Plan RETAIL REDEVELOPMENT TOOLS, INCENTIVES, AND BEST PRACTICES

TOOLS, INCENTIVES, AND BEST PRACTICES

Conventional financing is sometimes all that is needed to make redeveloping or repurposing distressed shopping centers financially feasible. Replacing low-density, single-use development with higher-density, mixed-use development not only provides more income per square foot and more property tax revenue per acre, it also builds value for the surrounding neighborhood.

But strengthening struggling commercial areas, whether a shopping center or an older main street district, often requires gap financing or upfront investment in infrastructure or other improvements. Also, retenanting distressed shopping centers takes time, since many chain retailers and specialty businesses will not locate in neighborhoods or shopping centers that lack retail vibrancy. The disinvestment cycle can sometimes be reversed by physical improvements, and sometimes by business improvements (a better business mix and/or better business performance)–but, most often, it requires both. Additionally, it requires close, collaborative partnerships between property owners, local government, investors, area nonprofits, and others engaged in placemaking. In distressed older commercial districts, some of the most effective tools and incentives have one or more of these objectives:

• Creating walkable, mixed-use neighborhoods that have visual and market distinctiveness, including preserving and finding dynamic new uses for older and historic buildings. • Increasing the customer base for a commercial district or shopping center by increasing the number of people working and living nearby and improving marketing to more effectively engage them. • Providing clear guidance to property owners and developers on desired site design, then expediting the entitlement process for desirable site improvements. »» Compelling property owners to fill vacancies and make property improvements through an aggressive combination of incentives and disincentives. »» Investing in public improvements that effectively leverage private-sector investment. »» Removing barriers to entry for new, high-priority businesses. »» Providing dedicated funding sources or loan guarantees for investments in projects that lenders might perceive as too risky. »» Assisting and encouraging businesses to increase sales to existing customers, reach new customers, improve merchandise mix, develop new distribution channels, reduce operating expenses, and improve customer service. »» Stimulating development and expansion of independently owned businesses that meet community needs and that have a positive impact on the district’s or center’s public image. »» Building value for property owners, business owners, local government, and the community. »» Collaborating on business mix with nearby districts and centers to make the overall area more attractive to residents, shoppers, visitors, and investors

The following list of tools and incentives is by no means exhaustive or complete but is simply meant to provide a profile of the many tools that are available, or that could be made available, to improve the performance of the County’s distressed shopping centers.1

1 Source: Community Land Use + Economics Group, LLC, Prince George’s County MD Retail Center Redevelopment: Case Study Analysis, 2017.

Prince George’s County Competitive Retail Market Strategic Action Plan TOOLS, INCENTIVES, AND BEST PRACTICES

PUBLIC INCENTIVES 80 percent of the tax otherwise due for qualified business personal property. Some tools and incentives are uniquely • High Tech Real Property Tax Credit: In addition to the applicable to certain places or types of property tax credits available for business and property development. For example, state and development within the County’s Enterprise Zone, the federal historic rehabilitation tax credits County offers a real property tax credit to high tech companies (meaning companies that conduct scientific can only be used for rehabilitation of research or create products and services for science-related buildings listed on, or eligible for, the business activity). There are minimum investment and National Register of Historic Places. job creation requirements. The property tax credit is 100 However, many tools and incentives percent in the first year, declining by 20 percent for each could be used to help finance a variety of the remaining four years of the incentive. of business development and property • Revitalization Tax Credit: The County offers a property redevelopment projects. tax credit to people who build or improve residential or commercial property in census tracts that are within the • Economic Development Incentive Fund: In 2012, the Capital Beltway, and in which the median household County established a $50 million fund for economic income is lower than the County’s overall median development, making $7–$11 million available annually household income level. For commercial property, the tax for business and property development projects that credit begins at 100 percent and declines by 20 percent create jobs. Most of the fund’s resources are used to make annually, as is the case with the High Tech Real Property loans (thus providing a dedicated funding source for Tax Credit. For residential property, the credit begins at economic development activities), but the Fund has also 100 percent and declines by 33 percent annually for the made grants to support exceptional projects that would next two years. likely not happen if not for the Fund’s investment. • Brownfields Revitalization Incentive Program: The • Enterprise Zone Tax Credits: The State of Maryland and State of Maryland offers a property tax credit on 50–70 Prince George’s County offer a variety of property and percent of the increased value of a site resulting from income tax credits to business and property owners whose environmental cleanup. If combined with other property business and property investments create jobs within the tax credits, the total credit cannot exceed 100 percent. designated Enterprise Zone. These include state income Many shopping centers contain environmental hazards tax credits for each new person hired and a 10-year (such as dry cleaning chemicals, oil, and asphalt). property tax credit for improvements or construction that increase the value of commercial property. Bonus • Maryland Economic Development Assistance income tax credits are available for hiring disadvantaged Authority Fund: This state fund offers grants, equity workers or for hiring workers in Enterprise Zone “focus investments, and fixed-rate, below-market-rate areas,” and a 10-year business personal property tax loans for individual business development projects, credit is available for “focus area” investments, equal to site development, environmental mitigation, and

Prince George’s County Competitive Retail Market Strategic Action Plan TOOLS, INCENTIVES, AND BEST PRACTICES

revolving loan funds, with particular emphasis on arts/ $500,000 or 50 percent of project costs and requires a entertainment, brownfields, child care centers, and minimum owner’s equity investment of five percent. seafood/aquaculture. Projects must be located in a priority »» Microenterprise Loan Program: This program funding area, and much of Prince George’s County– makes loans of up to $35,000, with repayment particularly areas in the eastern part of the County–meets scheduled over five years or less, for working capital, this criterion. small building renovation projects or leasehold • Military Personnel and Veteran-Owned Small Business improvements, market studies, and certain other Loan Program: The state offers no-interest loans for expenses for launching or expanding a small business. veterans and reservists who launch or expand businesses »» Linked Deposit Program: The state’s linked deposit and for businesses that employ veterans and reservists. program reduces interest rates by about two percent • Sustainable Communities programs: The State of for eligible, certified Minority Business Enterprises Maryland offers a variety of programs for communities and small businesses for business development and designated as “Sustainable Communities”–communities expansion. Loan terms cannot exceed 10 years. that have made a commitment to a holistic approach The State of Maryland offers a number of other specialized to community and economic development, including financing and incentive programs for specific types of economically and environmentally sustainable business businesses. These include tax credit programs for specific and property development practices and protection types of businesses, including cybersecurity, biotechnology, of historic resources. Most of the sites selected for cellulosic ethanol, and wine production businesses; loans the following case studies are located in a qualifying for planting vineyards and improving energy efficiency in community, as are many of the overall inventory of rural areas; and matching grants for value-added agricultural distressed shopping centers identified by RCLCO. products. Although most of these are not likely to be helpful The programs available to communities designated as in stimulating redevelopment of distressed shopping centers Sustainable Communities include: or development of new community-serving businesses, it is »» Neighborhood Business Works Program: This possible that one of these specialized programs might support program offers gap financing to small businesses and business or property development at one or more of the nonprofit organizations for property acquisition, County’s distressed shopping centers, should it be redeveloped building construction and rehabilitation, and certain for a new use. business development activities (such as equipment for retail and manufacturing businesses). As is the case • Tax Increment Financing: Tax Increment Financing with all of the state’s programs for which Sustainable is one of the most useful (and, in many places, one of Community designation is required, the program the most flexible) tools for revitalizing older, distressed favors projects that have a positive impact on their downtowns and commercial centers. As property within neighborhoods, that generate street-level activity, the downtown or commercial center increases in value, and that improve vacant or underused buildings. The the resulting new property tax revenue is used to pay for program makes 5-15 year loans up to the lesser of needed improvements. TIF revenue can be used to repay bonds issued to pay for up-front improvements, or it can

Prince George’s County Competitive Retail Market Strategic Action Plan TOOLS, INCENTIVES, AND BEST PRACTICES

be tapped on an as-you-go basis as needs arise. TIF has To qualify, a building must be individually listed on the been widely used to pay for improvements essential for National Register of Historic Places, be eligible for listing, new mixed-use development, inlcuding parking garages, or contribute to the architectural or historic character of sidewalks, street lighting, and environmental cleanup. a district listed on the National Register. Other program It is also used to provide incentives for business and guidelines include: property development. • The building must be an income-producing building. • Transfers of Development Rights: Transfers of • The rehabilitation must equal or exceed the adjusted development rights make it possible for local governments basis of the building or $5,000, whichever is greater. to direct development away from places where they do not want it to occur and into places where they do want • Rehabilitation work must be consistent with the development to occur. A developer is able to transfer Secretary of the Interior’s Standards for Rehabilitation, the rights to develop property in one place to another and rehabilitation plans and final work must be reviewed place where denser development might not normally and approved by the Maryland Historical Trust and the be permitted. Montgomery County, for example, has National Park Service. used transfers of development rights to protect more • In most cases, rehabilitation must be completed than 30,000 acres of rural farmland from sprawl-like within 24 months. If the rehabilitation is planned development. Montgomery County has directed that new to take place in phases, all phases must be complete development to denser areas, such as downtowns, that are within 60 months. better served by transit, housing, parking, jobs, and other essential services. In addition to the federal tax credit, the State of Maryland offers a state income tax credit, also equal to 20 percent In addition to County and state tools and incentives, there of qualified rehabilitation expenses, for commercial are several federal programs worth mentioning that might rehabilitation projects that do not exceed $500,000 and be useful in developing or strengthening businesses, or in whose uses are no more than 75 percent residential. There rehabilitating or redeveloping distressed commercial properties. is a per-project cap of $50,000 in credits. The state also These include: offers a 20 percent credit, with a cap of $3 million, for larger building-rehabilitation projects; these credits are • Federal and State Historic Rehabilitation Tax Credits: awarded annually on a competitive basis. The federal government offers an income tax credit equal to 20 percent of the qualified expenses for redevelopment The paperwork can seem daunting to someone not of historic commercial buildings. In the event a property familiar with the process–but a tax credit with a potential owner does not have enough income tax liability to use effective yield of 40 percent of qualified expenses is a very the tax credit during the tax year in which the building is powerful incentive. placed in service, the credit can be carried backward 1 year or forward up to 20 years. In some instances, credits can be • New Markets Tax Credits: The federal government offers converted to project equity through partnership with a tax tax credits to encourage and support business development credit investor. in economically underserved census tracts. The tax credits are awarded on a competitive basis to Community

Prince George’s County Competitive Retail Market Strategic Action Plan TOOLS, INCENTIVES, AND BEST PRACTICES

Development Entities—organizations certified by the US • The Community Foundation for the National Capital Department of the Treasury’s Community Development Region (which supports Prince George’s County’s Financial Institutions Fund—who, in turn, pass the Transforming Neighborhood Initiative (TNI) Fund for credits on to investors who then make investments in the Community Innovation) Community Development Entity’s business development • The Gannett Foundation activities, which can take the form of loans, grants, or • Philip L Graham Fund equity investments. The tax credit is worth 39 percent of the investment made, over the course of seven years, • The Marcus Foundation which has made it very attractive to tax credit investors. • The J. Willard and Alice S. Marriott Foundation The program’s last appropriation was in 2014—but there • The Curtis & Edith Munson Foundation are still some investors with allocations that have not yet been committed, and it is reasonably likely that federal • Prince Charitable Trusts funding for the program will be reallocated within the next • Wells Fargo Community Investment year. There are many certified Community Development In addition, there are numerous foundations active in the Entities in Maryland, including several in Prince George’s Washington, D.C. metropolitan area that support issues that County1, plus a number of Community Development might be relevant to specific types of uses for which distressed Entities that work nationally on specific types of projects shopping centers might be repurposed. For instance, some or that provide specific types of financing with their New foundations support food-related business development, Markets tax credit allocations. which could be helpful in launching a food incubator or a community kitchen. FOUNDATIONS

There are many private-sector, grant-making organizations in CROWDFUNDING the Washington, D.C. metropolitan area whose grants have Crowdfunding—in essence, funding for business or property included support for small business training, innovation, and development provided by members of the public for projects other economic development issues in the past. These include: they support—is becoming increasingly significant as a tool for • Bank of America Charitable Foundation capitalizing business startups and for property development. 2 • The Morris & Gwendolyn Cafritz Foundation There are four types of crowdfunding, and two of them have successfully supported small business and, to a lesser extent, • CapitalOne Corporate Citizenship property development in recent years. They are:

1 These include SunEdison Community Development Fund (Beltsville), New Markets Growth Fund (College Park), Prince George’s Community Capital Company (Largo), Collective Banking Group (Riverdale), Anacostia Investments (Suitland), Hope Development Group (Temple Hills), and First Combined Community Federal Credit Union (Upper Marlboro). 2 The other types are donation crowdfunding (in which people simply make donations, without receiving a tangible return), which works best for projects undertaken by nonprofit organizations, and lending-based crowdfunding, in which supporters loan money to a business or nonprofit for a pre-determined amount of time and a pre-determined interest rate.

Prince George’s County Competitive Retail Market Strategic Action Plan TOOLS, INCENTIVES, AND BEST PRACTICES

• Reward-based Crowdfunding: Contributors receive the business. More than 800 residents bought shares rewards for their contributions, with different rewards for of stock, at $500 per share, to launch a community- different contribution levels. Reward-based crowdfunding owned department store in Powell, Wyoming in 2001. takes place through web-based services such as Indiegogo. In its third year, Powell Mercantile generated more than com and Kickstarter.com. $500,000 in sales and began paying a dividend to its shareholders. Since the store is more focused on serving • Equity Crowdfunding: Community residents buy community needs than on generating big profits, it is shares of stock in a highly desirable business to capitalize able to offer prices comparable to, or lower than, those in national chains.

REAL WORLD MODELS Sweet Bar Bakery, a bakery in Oakland, California, exceeded its $30,000 crowdfunding goal by offering rewards such as personalized baking lessons, private receptions at the bakery, and even REAL WORLD MODELS the naming rights to menu items. Washington, D.C.-based FundRise brought equity crowdfunding to a new level when A coffee shop called Arise (also in it launched in 2012. The crowdfunding Oakland) raised $10,000 to pay for new platform, which focuses on, and is limited equipment by selling $150 gift cards to, real estate development projects, provides for $100 through an aggressive holiday developers with a source of short-term campaign. The coffee shop’s profit capital, while also making it possible for margin on its products is 75 percent—so, individual investors to benefit from real estate fulfilling $150 worth of products cost investments that would otherwise be out of the shop only $37.50, earning it $62.50 their reach—and to invest in projects in their in profit for each card sold for $100. The own neighborhoods. Individuals must invest 50 percent premium was very appealing a minimum of $1,000. The company charges to customers, who quickly snapped up an annual fee of 0.3–0.5 percent (deducted the 200 gift cards available through the from the investor’s gross returns), makes special holiday promotion. The business distributions on a quarterly basis, and provides could have gotten a small loan to cover a rating for each potential investment that the cost of the equipment—but using measures the relative risk-adjusted return for crowdfunding eliminated finance charges each project. To date, FundRise has invested while also rewarding loyal customers with nearly $3 billion in real estate development a $50 premium. projects, with returns averaging 12–14 percent.

Prince George’s County Competitive Retail Market Strategic Action Plan TOOLS, INCENTIVES, AND BEST PRACTICES

Other real estate-based crowdfunding companies— Grocers Association (IGA), REI (Recreational Equipment, Sharestates, Realty Mogul, and RealtyShares—have Inc.), and the Best Western hotel chain. At the local level, co- followed FundRise’s model. Their model has also been op businesses can fill market gaps that national chains might adapted to attract investment in specific types of businesses, overlook or whose risk level might be too great, making the like restaurants (FoodStart), apps (Appsplit), and music co-op business model a good fit for grocery stores and variety production (PledgeMusic). Power2Give, which focuses on stores in particular, especially in small towns or in lower- crowdfunding for arts-related nonprofit organizations, began income communities where profit potential might not meet a as a crowdfunding service for Broward County, Florida, national retail chains’ expectations. but has now expanded nationally. It receives support from Co-op members’ annual membership fees are treated as equity the Ford Foundation, Bank of America, the Doris Duke to help finance the co-op’s ongoing operation. Depending on Charitable Foundation, and the John S. and James L. how profitable a co-op is in a given year, it may pay dividends Knight Foundation. to members. Co-ops are managed by boards of directors The Jumpstart Our Business Startups (JOBS) Act, signed into elected from the membership. law by President Obama in 2012, has made it easier for small businesses to raise capital from customers, neighborhood residents, and other supporters. Previously, only “accredited INCENTIVES FOR HIGH- investors” (those who earn more than $200,000 annually PRIORITY BUSINESSES or have a net worth of $1 million or more) could invest in privately held businesses. With the passage of the JOBS Act, The most successful business development programs for older nonaccredited investors can invest a maximum of 10 percent downtowns and neighborhood commercial centers have been of their income or net worth annually. those that develop a list of high-priority businesses, then incentivize skilled entrepreneurs to launch these businesses. Some of the most effective tools include forgivable loans, CO-OPS deferred loan repayment (particularly for businesses with capital-intensive startup costs), and incentive grants. Co-operatives are member-owned businesses that provide products and services the members desire. By using the pooled • Forgivable Loans: Forgivable loans can be a highly buying power of their members, co-ops can negotiate lower effective tool for attracting high-priority businesses. They prices with suppliers and use their collective voice to require provide small businesses with working capital and they that suppliers meet members’ criteria. Because their goal is provide the grantor with some degree of control over store to meet members’ needs, rather than to generate profits for hours, store location, and other business practices. shareholders, co-ops can adapt their products and services to Incentives for High-Priority Businesses with Capital- the specific preferences of their members. Several national or • Intensive Startup Costs: international retailers and service providers are actually co-ops, High start-up costs impede such as the Ace and TruValue hardware stores, the National development of restaurants and some other types of Automotive Parts Association (NAPA), the International businesses. For example, restaurants need kitchen cooking equipment and dining room furnishings, both of which

Prince George’s County Competitive Retail Market Strategic Action Plan TOOLS, INCENTIVES, AND BEST PRACTICES

REAL WORLD MODELS On Mobile, Alabama’s Dauphin Street corridor, businesses can borrow up to $20,000. Borrowers must match loans 1:1 with equity. Loans are amortized at zero percent interest for five years, and borrowers must make monthly principal payments. Assuming a business meets the program’s guidelines, 60 percent of the principal is forgiven at the end of the third year of the loan, with an additional 20 percent forgiven at the end of each of the fourth and fifth years. To be eligible, businesses must locate in a ground-floor space on a targeted street, must agree to be open a minimum of 48 hours per week, must have a lease with a minimum active term of five years, and must submit periodic financial statements to the Downtown Mobile Alliance. Preference is given to businesses that provide goods and services on the Alliance’s priority list, which is based on a recent market analysis and resulting business development strategy. Businesses must pay a loan processing fee of approximately $650. The program is capitalized with TIF revenues.

Waterville, Maine offers forgivable loans of between $15,000–$50,000 for 5–7 year terms to businesses and to property owners in support of business tenants. As in Mobile, borrowers must match loans 1:1 with private equity. Borrowers make interest-only payments, with principal forgiven annually if borrowers meet performance requirements. Preference is given to ground-floor tenants and to businesses that Waterville’s market analysis concluded are priorities for the district. Loans must be used for fixed assets. Applicants must pay a $250 application fee plus a commitment fee equal to one percent of the amount borrowed. As with Mobile’s program, TIF revenues fund Waterville’s forgivable loan program.

REAL WORLD MODELS The City of Winston-Salem created a deferred loan repayment program to attract restaurants to a few distressed blocks on the periphery of its downtown. Qualified restaurateurs who agreed to open a restaurant in the targeted area can borrow up to 70 percent of start-up expenses from one of two participating banks. Loan rates are 3-5 percent; the maximum term is 15 years, and the maximum loan amount is $150,000. The City initially used $1 million of its Community Development Block Grant allocation to defer loan payments for 1-2 years for restaurants that met qualifying benchmarks, giving them time to establish a solid customer base. The City used additional CDBG funds for public improvements in the targeted area.

Prince George’s County Competitive Retail Market Strategic Action Plan TOOLS, INCENTIVES, AND BEST PRACTICES

are expensive, but need time to build a clientele, making competitions can also help existing business owners it difficult for the restaurateur to pay back startup loans increase sales or develop new skills by focusing on specific without significant cash reserves. tactics or distribution channels. For example, a business plan competition might focus on developing an on-line • Incentive Grants: For example, Allentown, Pennsylvania’s storefront, adding a new product line, or penetrating a Restaurant Row grant program offers outright grants to new market. help defray the costs of interior construction, fixtures, • Pop-up Programs: Pop-up businesses—those that façade improvements, and exterior signs for restaurateurs operate temporarily, for a short period of time—can willing to open a restaurant within a seven-block section benefit a shopping center or main street district in of the downtown district. Grants cover 50 percent of many ways. For example, they give entrepreneurs eligible expenses, up to a maximum of $50,000. an opportunity to test a business concept and make • Business Plan Competitions: Business plan competitions adjustments before launching a permanent business, they can help identify skilled entrepreneurs—and, when can help existing businesses test new product lines, they coupled with incentive grants for winning business help property owners earn rental income between tenants, plans, can help establish new businesses. Business plan

REAL WORLD MODELS To encourage new business concepts, Florence, South Carolina’s downtown development program (called “Meanwhile Downtown”) designed and launched a pop-up shop competition three years ago. Three months of free rent were offered to the two pop-up businesses whose business concepts won the competition. A local bank and the Francis Marion University Center for Entrepreneurship cosponsored the competition, covering the cost of utilities and related expenses for the three-month period. The Center for Entrepreneurship provided technical assistance to the two winning businesses (a yoga studio, and an art gallery/open studio).

In Oakland, California, two entrepreneurs established Popuphood, a retail business incubator that works with property owners and entrepreneurs to create pop-up businesses, in small clusters, in vacant buildings. In almost all instances the pop-up businesses have graduated to permanent leases in their pop-up spaces. Popuphood helps streamline the process of getting storefront space ready and obtaining permits and short-term insurance, and it coaches entrepreneurs in shaping, financing, and marketing their businesses.

The Detroit Economic Growth Corporation launched a pop-up business program in 2012. DEGC issued a request for proposals to entrepreneurs for storefront space on Agnes Street in Detroit’s West Village neighborhood. The RFP required entrepreneurs to submit a business plan, preferred location strategy, and staffing plan. While the pop-up businesses chosen received some financial assistance, the primary purpose of the program is to create demand for storefront space, select a compatible mix of businesses, and identify the pop-ups with the greatest potential to become permanent businesses.

Prince George’s County Competitive Retail Market Strategic Action Plan TOOLS, INCENTIVES, AND BEST PRACTICES

and they enliven the shopping center or commercial INCENTIVES FOR district, keeping space occupied and providing exciting new business concepts to the public. Some shopping REHABILITATING OLDER centers and downtown development organizations have AND HISTORIC BUILDINGS encouraged development of pop-up businesses by working closely with property owners, local government, and • Façade Improvement Grants: Hundreds of small insurers to streamline the process of opening the shops. downtown districts throughout the US have benefited from façade improvement grants. Grants typically range TOOLS FOR between $5,000–$20,000, are awarded on a 1:1 matching GUIDING DEVELOPMENT basis, are awarded during a brief and concentrated period of time, and require property owners to follow some Performance Bonds: A handful of communities require general design guidelines. Grants are usually funded performance bonds for new commercial development by CDBG (sometimes in tandem with development over a certain size, with bond proceeds used to demolish of affordable housing in upper-floor spaces), TIF, or the structure if the commercial center is vacant for a BID revenues. certain period of time. In Oakdale, California, developers • Preservation Funding: Preservation funding usually of commercial buildings larger than 40,000 square feet functions in one of two ways—they either provide grants must obtain a performance bond to reimburse the city or revolving loans for property owners to rehabilitate for demolishing the building and maintaining the site if historic buildings, or they buy endangered historic the building is vacant for over one year. In Wauwatosa, buildings and resell them to property owners willing Wisconsin, developers of commercial buildings larger than to make improvements (often in conjunction with 50,000 square feet must contribute 20 cents per square foot offering low-interest loans and/or loan guarantees). For to a municipal land conservation fund before they can obtain example, the Providence Revolving Fund, launched by the a building permit, with the fund’s proceeds used to redevelop Providence Preservation Society in 1980, buys endangered vacant sites. historic properties and resells them to responsible owners. The Fund’s Downcity Loan and Grant Program makes Impact Fees: Collierville, Tennessee requires developers who small incentive grants for sign, awning, and other small- wish to develop a commercial building larger than 25,000 scale storefront improvements; loans for more extensive square feet outside the downtown core to pay an impact façade improvement projects; and gap financing for fee, the proceeds of which support downtown economic larger development projects. The program was initially development initiatives. funded with program-related investment from the Rhode Island Foundation. • Incentive Grant Program for Bringing Older Buildings into Code Compliance. Vermont offers a state income tax credit to help owners of older commercial buildings in designated historic downtown districts to bring their

Prince George’s County Competitive Retail Market Strategic Action Plan TOOLS, INCENTIVES, AND BEST PRACTICES

buildings into state building code compliance. The DISINCENTIVES FOR credit is equal to 50 percent of eligible expenses, with caps of $50,000 for installing elevators, $50,000 for VACANT PROPERTY installing sprinkler systems, and $12,500 for installing • Vacant Property Ordinances: Shopping centers and platform lifts. The credits can be sold to a participating main street districts with high vacancy rates reduce bank or used to improve the terms of a mortgage loan if property tax revenues, encourage vandalism and other the property owner does not have sufficient income tax crime, and discourage new residential and commercial liability to use the credits. development. A growing number of communities have Incentives for Upper-Floor Housing: • Downtown adopted ordinances that compel property owners to development programs have used a variety of incentives to clean up and lease vacant or under-used property. Some stimulate development of upper-floor housing. communities limit these policies to residential buildings, Some incentives focus on encouraging people to live but most include commercial buildings. Most vacant downtown. For example, in downtown Detroit, five major property ordinances require owners of vacant properties, employers have collaborated with Midtown Detroit, or properties with a defined vacancy percentage, to Inc., the district’s nonprofit downtown development register their property, pay a fee until vacancies are organization, to encourage their employees to buy or rent filled, properly maintain the building while vacant, homes downtown. Incentives include forgivable loans of and maintain a defined amount of liability insurance $20,000 for first-time downtown homeowners, a $2,500 coverage. Some ordinances impose escalating fines for annual rental allowance for first-time downtown renters properties that remain vacant for more than two years (the allowance drops to $1,000 in the second year), after registration, compelling owners to fill vacancies, and bonuses for existing downtown renters who renew sell, or transfer ownership the building. Some require their leases. highly specific actions, such as removing graffiti within 48 Other incentives encourage property owners to convert hours, imposing daily fines of up to $500 until problems vacant and underused upper-floor space to apartments. are corrected, or demolishing buildings if they are not For instance, the city of Rock Island, Illinois makes up to repaired and occupied within a certain period of time. five forgivable loans of $20,000 per unit each year (the pool is capitalized by TIF revenue). The city also adopted the International Existing Building Code and amended its zoning ordinance to streamline the process of creating upper-floor housing in existing downtown buildings and developing new mixed-use infill buildings.

Prince George’s County Competitive Retail Market Strategic Action Plan TOOLS, INCENTIVES, AND BEST PRACTICES

SUMMARY OF EXISTING AND POTENTIAL TOOLS AND INCENTIVES

The following summarizes the tools and incentives described above, noting whether each one is currently available in Prince George’s County and what its potential use might be for improving tenant mix and/or improving or redeveloping distressed or defunct shopping centers:

Currently Available in Prince Incentive George’s County? Potential Use

Brownfields Revitalization Redevelopment of distressed or defunct Yes Incentive Program shopping centers.

Identifying potential entrepreneurs; Business Plan Competition No strengthening existing businesses.

Encouraging owners of historic commercial Code Compliance Incentive Grants No buildings to improve compliance with life- safety codes.

Yes, but not yet used Raising capital for new businesses or in Prince George’s Crowdfunding commercial property development that are high County for small priorities to neighborhood residents. business development

Attracting high priority businesses with capital- Deferred Loan Repayment Program No intensive start-up costs.

Raising capital for new businesses or Development of Cooperative Businesses No commercial property development that are high priorities to neighborhood residents.

Commercial development components of Economic Development Incentive Fund Yes projects involving redevelopment of defunct shopping centers for mixed uses

Retailers interested in opening stores in economically distressed neighborhoods; Enterprise Zone Tax Credits Yes nonretail businesses interested in reusing shopping center space for operations.

Prince George’s County Competitive Retail Market Strategic Action Plan TOOLS, INCENTIVES, AND BEST PRACTICES

Currently Available in Prince Incentive George’s County? Potential Use

Encouraging owners of commercial buildings Façade Improvement Grants Yes to make small-scale façade improvements.

Helps owners of historic commercial buildings Federal and State Historic Rehabilitation Yes interested in building rehabilitation finance Tax Credits rehabilitation projects.

Forgivable Loans Yes Attracting high priority businesses.

Could help seed creation of revolving funds for business development and property Foundation Grants Yes redevelopment. Job training and small business training.

High tech businesses interested in reusing High Tech Real Property Tax Credit Yes shopping center space for operations.

Discouraging development of new commercial Impact Fees to Guide New Development No space outside existing dense, mixed-use to Existing Commercial Centers commercial centers.

Linked Deposit Program Yes Low-interest loans for MBEs/SBEs.

Redevelopment of distressed or defunct Maryland Economic Development shopping centers, particularly for priority Yes Assistance Authority Fund uses (such as arts/entertainment or child care centers).

Small-scale loans to business owners for Microenterprise Loan Program Yes business or property improvement.

Military Personnel + Veteran-Owned Veterans interested in launching or expanding Yes Small Business Loan Program a business.

Small businesses and nonprofits interested Neighborhood Business Works Program Yes in rehabilitating or redeveloping vacant or underused buildings for neighborhood benefit.

Prince George’s County Competitive Retail Market Strategic Action Plan TOOLS, INCENTIVES, AND BEST PRACTICES

Currently Available in Prince Incentive George’s County? Potential Use

Helps property owners and developers Yes (but uncertain New Markets Tax Credits interested in redeveloping distressed or defunct future availability) shopping centers finance redevelopment.

Discouraging development of redundant Performance Bonds to Help Prevent No commercial space, particularly in redundant Commercial Vacancy commercial formats.

Launching new businesses; testing market Pop-Up Program No viability of specific products and services; temporary use of vacant spaces.

Grants for rehabilitation and/or acquisition of Preservation Grant Funds Yes historic commercial buildings.

Owners of commercial buildings in Revitalization Tax Credit Yes economically distressed neighborhoods who are interested in improving their buildings.

Provides financing from future property tax revenues for site improvements and other Tax Increment Financing Yes features offering public benefits in conjunction with shopping center redevelopment projects.

Guiding development towards denser areas, Transfers of Development Rights No protecting undeveloped areas from sprawl.

Compelling property owners to improve or sell Vacant Property Ordinance No commercial properties with high vacancy rates and/or persistent vacancies.

Prince George’s County Competitive Retail Market Strategic Action Plan MARKETING STRATEGY MARKETING STRATEGY

New spending patterns are changing the benefits of the Retail Market Strategic Action Plan (SAP) the way retailers think about offering and other retail market opportunity research that has been luxury experiences, and unlike true completed to date. The Retail Implementation Director will oversee the implementation of each objective. Each objective luxury, these experiential or attainable contains sub-tasks that further explain how to accomplish 1 luxury retailers are expanding rapidly. each objective. This category of retailers includes retailers such as Apple or Whole Foods that sell premium versions of necessity items, high-priced fitness classes, customer service-oriented fashion retail, and high-end restaurants. To improve the overall quality of County retail in the near term, pursuing attainable, experiential luxury/high-end retail in the right locations should be a County priority. With a targeted effort, Prince George’s County has the potential to attract more attainable luxury retailers and service providers. The “Experience! Expand! Explore!” marketing campaign has been instrumental in the attraction of retailers like Nordstrom Rack, Whole Foods, and Sweetgreen. The County can enhance its marketing efforts by providing a clear, data-driven story about the County’s recent and future growth, and by touting the success of major retailers that have recently opened in the County. Also, the current marketing strategy should begin to segment potential retailers in their ideal locations and target consumers based on which of its three to four target areas they best fit.

Marketing can extend beyond retailers to other entities involved in the County real estate market, such as realtors, homebuilders, and real estate developers, as these players reach a broader audience of actors who will help to build the people, Whole Foods Market® homes, and places aspects of the market that continue to enhance the marketability of the County.

The following marketing strategy outlines the three key steps that that County should undertake in order to fully realize

1 The Boston Consulting Group, “Shocking of the New Chic: Dealing with New Complexity in the Business of Luxury”, January 30, 2014.

100

Prince George’s County Competitive Retail Market Strategic Action Plan MARKETING STRATEGY

OBJECTIVE 1: EXPAND OUTREACH AND MESSAGING TO KEY STAKEHOLDERS

The first objective of the marketing strategy is to understand Director to identify key contacts within each of the four the target audience of the SAP and craft a message that target audiences. responds to the unique conditions of each group in a 1. Land/Retail Property Owners strategic fashion. This objective is broken down into three sub-tasks that are explored in the following pages and that Description: These are the owners of existing shopping should be completed as a first step before moving on to the centers, small commercial properties along identified subsequent objectives. main streets, or adjacent parcels. Some portion of this group, especially those that own smaller properties, are likely nonprofessional real estate owners (“mom TASK 1A: IDENTIFY TARGET AUDIENCE and pops”) that have limited market knowledge or The first step to a successful marketing strategy is identifying development expertise. the target audiences for the effort. These audiences should Why they are important: Fundamentally, this group is be categorized and understood by their role within the real the most important of all the audiences—without their estate industry, preferences, incentives, and priorities. By consent and participation, few changes are likely to occur. fully articulating and understanding the motivations of these distinct groups, the County will be better positioned to tailor Priorities: This group will be most concerned about the marketing efforts to these audiences and will have greater long-term value or operating income of their property. success than a one-size-fits-all approach. They will likely have limited appetite for risk if they are satisfied with the status quo. RCLCO has identified four target audiences for these marketing efforts: Strategy for communication: Outreach to this group should be on a personalized basis, with phone calls and 1. Land/Retail Property Owners emails every three to six months. These groups should be 2. Retail Brokers and Realtors kept abreast of the opportunities and evolving landscape for retail development within the County, with details 3. Retailers provided on how the they can improve the overall value of their holdings. 4. Developers Goals for outreach: The Retail Implementation Director The following is a brief overview of each target audience, (or staff member under their direction) should reach along with key considerations for each group. The County out to this group at least once per quarter to answer any should utilize CoStar and the property owner, manager, and questions and provide updates on County marketing developer database generated by the Retail Implementation activities and retail successes.

101

Prince George’s County Competitive Retail Market Strategic Action Plan MARKETING STRATEGY

Desired impact: The desired outcome of outreach to this Desired impact: Marketing to this group will furnish group is to create new development opportunities for land connections between County officials and high- owners and redevelopment or repositioning of existing priority retailers. retail centers. 3. Retailers 2. Retail Brokers and Realtors Description: Retailers are the tenants of retail commercial Description: These industry actors help connect property space. They choose to locate in specific shopping centers owners and developers to potential retailers. These based on criteria including, but not limited to, the design professionals have a very strong regional knowledge base, of the retail space, access to transportation, adjacent land are well-connected with local owners and developers, and uses, the presence of other retailers, and the demographic have a grasp of the pulse of the market. makeup of the surrounding areas.

Why they are important: Brokers can help connect Why they are important: Securing retailers is essential to County officials with actors in all aspects of the real estate the viability of the retail environment in the County. industry. They know who is looking for space and how Priorities: Retailers want to be in locations that can retailers are making their location decisions in real time. maximize overall sales and/or visibility in an area. Priorities: Brokers are most concerned with making deals Traditional retailers are seeking to maximize foot traffic of happening between owners/operators and retailers. They their target market segment, which in turn leads to great tend to work on commission, so it is in their interest to volume of sales and profits. make deals happen quickly. They will not spend too much Strategy for communication: Retailers should be time on a project that they think is unlikely to happen. contacted by the County to promote the opportunities Strategy for communication: The most active brokers that exist for them in the area and provide updates on in the area should be contacted semiregularly by County the continued evolution of the retail landscape. High- staff, generally every 6–12 months. Outreach does not priority retailers, such as Whole Foods, Apple, and Rent necessarily need to be personalized, though the brokers the Runway, should be contacted directly or through their with a track record for the largest and most successful designated representative, such as a broker, every three to retail transactions should be approached personally. six months.

Goals for outreach: Since brokers are in constant For specific retailers that the County may be trying to contact with retailers and owners, they can be a first- attract to a new project, such as a popular grocer or line of information providers on the SAP and how it discount store chain, it may be beneficial to establish can create opportunities for all parties involved. Brokers direct connections with the real estate decision makers can also be an invaluable resource to County staff who within these organizations. Other retailers, either on the are interested in taking the temperature of the retail high- or low-end of the market, should be contacted at market environment. least every 12 months with an annual update on retail

102

Prince George’s County Competitive Retail Market Strategic Action Plan MARKETING STRATEGY

conditions in the County. Some contact with retailers can whether the capital markets will underwrite, finance, and happen organically and spontaneously, such as at industry value a future project. networking events. Other contacts with higher priority Priorities: Developers, like any entrepreneurs, are targets will need to be more deliberate and calculated. interested in obtaining profits based on the success of Goals for outreach: By marketing directly to retailers, their efforts. They are ready to take greater risks if it the County can communicate a clear vision of the translates into increased returns. opportunities that exist for retail within the area. Strategy for communication: Developers within the Desired impact: The ideal outcome of this outreach County should be contacted on a semi-annual basis. will be to attract high-priority retailers to the County as These periodic updates will inform the development identified in the High-End Retail research document. community of the opportunities being created through the policies of the SAP. Key development partners should 4. Developers be approached on a personalized basis, particularly if they Description: These entrepreneurs take the lead in express interest in a redevelopment or repositioning effort building vibrant retail or mixed-used corridors and in any areas identified in the SAP. repositioning existing, underperforming shopping centers. Goals for outreach: Providing greater outreach to this There are three typical approaches that developers use: group should lead to increased redevelopment in the areas »» Long-term owners build and hold the site, targeted by the SAP. and underwrite their decisions based on a 10+ Desired impact: The ideal outcome of outreach to this year outlook. group will be the development of new retail centers in the »» Value-add developers identify ways to reposition target areas outlined in the SAP. existing assets or build additional density within existing projects. Their goal is to improve the income Implementation Summary and capitalization of the project and then to sell it to • Lead: Retail Implementation Director realize a short-term gain in value. »» Some developers identify sites where they can easily • Timeframe: Year 1 build new space and underwrite development • Cost: Low—Staff time to implement based on selling the property soon after lease-up • Impact: High—A clear idea of who the target audiences and stabilization. These developers have a high- are will allow for a better marketing strategy overall risk tolerance but short-term outlook, and do not benefit from investments that only yield value over the long-term. Why they are important: A development partner will be essential for any redevelopment or repositioning project. Developers also have a good understanding of how and

103

Prince George’s County Competitive Retail Market Strategic Action Plan MARKETING STRATEGY

TASK 1B: IDENTIFY POSITIONING • Tracking key marketability data points for the County AND COMPETITIVE LANDSCAPE IN as a whole, such as income, education levels, and MARKETING EFFORTS household density. • Identifying other projects and investments that A key element of the marketing strategy is the positioning of may have changed the retail landscape, such as new the County’s retail opportunities within the broader context of transportation projects, growing employment cores, and the region to highlight its unique opportunities. This inventory cultural resources. of strengths and opportunities should be continually updated • Developing a compelling narrative about the County’s to inform the subsequent aspects of the marketing strategy. positioning and integrating this narrative into the The Retail Opportunity Analysis identified the unique marketing strategy elements. characteristics and subsequent retail opportunities of the County. Some of the key aspects and competitive advantages Implementation Summary of the County outlined in that document that should be • Lead: Retail Implementation Director highlighted in all marketing materials include, but are not • Timeframe: Year 1 limited to: • Cost: Low—Staff time to implement • The sizeable concentration of well-educated, middle-class • Impact: Low—Strong positioning creates an identity that households in the County. binds together the marketing effort moving forward • The County’s centrality in the Washington, D.C. metropolitan region, an area with a growing population of higher-income households. TASK 1C: CLEARLY ARTICULATE • The current mismatch between the existing retail offerings GOVERNMENT SUPPORT AND COUNTY in the County and the income and education levels of RETAIL OPPORTUNITIES its residents. The County should summarize and articulate the specific • The many potential redevelopment targets in the County. offerings of the SAP for the retail community, and how • The County’s proretail approach and improved they can be useful to each marketing target audience. These development review and entitlement process. offerings should be defined in terms of specific information and incentives contained within the SAP. In other words, what The County should monitor and update its positioning and key are the deliverables of this plan and the key opportunities for marketability factors on an annual basis. This includes: retail in the County and how will they be employed by owners, • Maintaining and updating research on the key retails, brokers, and developers? demographics (population, income, education level, etc.) The SAP is a multifaceted document that outlines the gaps, of the target retail areas and PIDs. opportunities, and strategies of more robust development of the County’s retail environment. Not every aspect of the strategic plan or previous retail market research will be relevant to all

104

Prince George’s County Competitive Retail Market Strategic Action Plan MARKETING STRATEGY members of the target audiences. A clear idea of the support g. Funding start-up investment costs and offerings from the County should be summarized into a 4. Developers clear and concise “pitch” that is tailored to the interests, needs, and incentives of each target audience based on the priorities a. Infrastructure and physical improvements articulated above. This concise list of messaging and talking b. Dedicated funding sources points should permeate all aspects of marketing outreach that c. Tenant attraction the County engages in on an ongoing basis. d. Zoning and entitlements e. Fund demolition costs The following list sorts the recommended incentives by the f. Predevelopment assistance target audience groups: g. Tax credits 1. Land/Retail Property Owners The following is a list of key talking points and elements of a. Façade improvement grants the pitch about the retail opportunities for members of the b. Infrastructure and physical improvements target audience. These talking points should be referenced in all c. Dedicated funding sources marketing efforts whenever possible. d. Tenant attraction • There is a strong, underserved middle class e. Marketing and business development within business/ retail districts • Strategic places for retail exist today and are only f. Zoning and entitlements getting stronger g. Design guidelines • There are many potential redevelopment targets h. Feasibility analysis • The County is proretail and has a new and improved 2. Retail Brokers and Realtors development review and entitlement process

a. Tenant attraction The messaging and talking points about the SAP offerings and b. Remove barriers to entry for new, high- retail opportunities should be constantly refined and evolved priority businesses based on the developments in the County, both in terms of c. Funding start-up investment costs changing demographics as well as new retail redevelopment sites and opportunities. 3. Retailers Implementation Summary a. Façade improvement grants • Lead: Retail Implementation Director b. Infrastructure and physical improvements • Timeframe: Year 1 and ongoing c. Remove barriers to entry for new, high- priority businesses • Cost: Low—Staff time to implement d. Crowdfunding • Impact: Medium—A clear list and explanation of the e. Business assistance offerings of the SAP will help increase the overall effect of f. Marketing and business development within business/ the marketing efforts retail districts

105

Prince George’s County Competitive Retail Market Strategic Action Plan MARKETING STRATEGY

OBJECTIVE 2: DEVELOP MARKETING AND PROMOTIONAL MATERIALS AND STRATEGIC PARTNERSHIPS

The second objective of the marketing strategy builds on the the appendix of this document when making reference to the key strategy elements explored in the first objective. Marketing areas targeted for redevelopment. and promotional materials and strategic partnerships will Marketing collateral should help to promote new and allow for the County to effectively communicate with the existing developments that could attract high-end tenants. members of the target audience groups. The four sub-tasks Material should reflect the key people and place factors outlined below should only be completed once the tasks discussed in the retail market analysis, such as household of the first objective have been completed. These tasks density, office employment, median income, education levels, should be continually updated and refined on an ongoing and transportation access. Marketing collateral should also basis as elements of the plan become realized or retail address the key offerings of the SAP to each of the targeted conditions change. audience groups.

TASK 2A: PRODUCE Some key factors that could be included in the marketing MARKETING COLLATERAL collateral are:

Marketing materials, sometimes referred to as collateral, a. Household growth by income are an essential element of any marketing strategy. These b. Share of households with incomes above the area materials can come in all shapes and sizes, from emails to median (about $100,000) newsletters, posters to radio advertisements, billboards, and c. New home communities and associated builders beyond. Marketing collateral should be available in both d. Recent high-quality apartment developments and print and digital formats. A database of collateral materials associated developers should be developed to allow for easy retrieval by County staff e. Upscale retail tenants and major anchor tenants whenever needed. within the market f. Pipeline retail developments The types of collateral utilized by the County should be g. Major institutional anchors such as universities dictated by the available resources, both in terms of financial and human capital availability. At a minimum, all marketing Marketing collateral should be designed according to County collateral should be consistent with the findings of the SAP visual standards and dovetail with existing branding efforts and other retail research efforts, and be consistent in terms of whenever possible. However, due to the evolving nature of messaging across platforms. The marketing materials produced both the retail environment and market conditions, the ability by RCLCO and M-NCPPC for the ICSC meeting provide a to deliver materials in the most efficient and effective method template for the level of detail that should be included in the possible should be prioritized. marketing materials. Marketing collateral should also make use of the recommended retail program strategies outlined in Implementation Summary

106

Prince George’s County Competitive Retail Market Strategic Action Plan MARKETING STRATEGY

• Lead: Retail Implementation Director of the target audiences have the greatest chance of learning • Timeframe: Year 1 and ongoing more about County’s retail strategies and larger opportunities. In general, the release of news and presentations should be • Cost: Medium—Staff time to implement in addition to timed to key milestones on projects. The three avenues of outside contractors to provide design expertise distribution are: • Impact: Medium—Marketing materials are important to the wider distribution of the County’s retail 1. Personalized Contact opportunity messaging 2. Mass Communication

3. In-Person Industry Events and Networking TASK 2B: ESTABLISH DISTRIBUTION PLAN Each of the avenues of marketing distribution are defined and A distribution plan is a description of how the target audience further explained below: members will obtain the information about the retail market opportunities and SAP offerings from County Staff. As Personalized Contact the final step of the first objective, it explicitly outlines the Examples: Phone calls, personal emails methods by which County Staff should be reaching out to the target audience groups. Personalized contact is the most resource intensive, but effective, mode of communication in the distribution plan. RCLCO has identified three primary routes by which County It should be reserved for only the highest-value members staff should be communicating with members of the target of the target audience, including but not limited to, retail audience. These methods should all be pursued simultaneously center owners, high-priority retailers, and large landowners of in order to have maximum impact and ensure that members properties in target areas. County staff should ensure that the Figure 2. Example of Countywide Marketing Material databases developed in Task 1a contain the necessary contact information for each organization

Initial phone calls and personal emails should be made to high-priority individuals and organizations within each target audience group. The initial phone call and email should serve as an introduction to the County staff, the County’s offerings and incentives as outlined in the SAP, and the retail and development opportunities that are relevant to each target audience group. After an initial phone call and email, each high-priority target audience member should be given a follow-up phone call every three to six months to keep them abreast of updates on the retail conditions in the County. These ongoing conversations will also serve as

107

Prince George’s County Competitive Retail Market Strategic Action Plan MARKETING STRATEGY

a way for County staff to learn more about the intricacies of public informed about the efforts of County officials in the local retail environment, building deeper connections promoting retail growth and redevelopment in the County. with the community, and gauge the temperature of the overall Whenever possible, the mass communication efforts for business climate. the marketing strategy should dovetail with the County’s “Experience! Expand! Explore!”’ branding campaign. For Mass Communication example, the logo on page 108 should be included in all Examples: Direct mail, e-mail newsletter, social media printed and digital marketing materials whenever possible. The On a per-recipient basis, mass communication is a low- overall “Experience! Expand! Explore!” branding campaign cost way to maximize the reach and exposure of marketing indirectly highlights many of the key opportunities for information. This avenue of plan distribution should be retail in the County, including the growing population and multifaceted, utilizing as many means of outreach as are feasible employment base, the business-friendly climate, and the given the County’s resources and human capital abilities. existing entertainment and regional retail centers. Tying the marketing efforts of the promotion of retail opportunities in Some popular forms of mass communication include, but are the County to the larger branding effort will reinforce this not limited to, direct mail, e-mail newsletters, and social media. identity as a fertile market for retail development. These modes of communication provide a broad array of information about the retail opportunities in the County and However, by no means should the messaging and promotion of can highlight specific strategic plan aspects and offerings. Mass the SAP be limited to the framework of the County’s existing communication can also be an effective way to broadcast the branding strategy. The logo does not need to be included successes of the retail in the County or promote future industry if it does not fit into the medium (such as a tweet) or if the events in which the County will take part. branding is irrelevant to the focus of the outreach. In other words, not every conversation with a target audience member Social media, such as Twitter and Facebook, should be utilized at a networking event or on a phone call needs to mention the under the oversight of the Retail Implementation Director to “Experience! Expand! Explore!” campaign. Discretion should promote the retail opportunities that exist in the County, the be exercised when appropriate. offerings and incentives outlined in the SAP, and news about new retail developments and openings in the County. Separate The key to a successful mass communication strategy is to offer Facebook pages and Twitter accounts should be set up under consistent updates to the target audience members without a “Retail in Prince George’s County” user name (or similar). overwhelming them through an excess of information. Direct Facebook postings and Tweets should be published one to five times per week, depending on staff availability and the release Figure 3. Example of Experience! Expand! Explore! Branding of news updates. Whenever possible, the Retail Implementation Director should coordinate with the marketing director of the “Experience! Expand! Explore!” account to ensure that some or all of the social media postings from the “Retail in Prince George’s County” account are reposted on the countywide account. Social media is an excellent way to keep the larger

108

Prince George’s County Competitive Retail Market Strategic Action Plan MARKETING STRATEGY mail and email newsletter messages should be sent out on a the County should also have a knowledgeable staff member quarterly to semi-annual basis. Social media postings should be participate as part of the panel or discussion. sent out on a daily to weekly interval. Implementation Summary • Lead: Retail Implementation Director In-Person Industry Events and Networking Timeframe: Examples: Conferences, professional educational events • Year 1 and ongoing • Cost: Medium—Staff time needed on an ongoing basis Industry events and in-person networking are some of the most and outside of office hours for industry events effective means for distributing information and awareness • Impact: High—Distribution is an essential aspect of the about the key aspects of retail conditions in the County. The marketing strategy; without it word will not permeate into real estate and retail industries hold multiple local, regional, the larger industry and national events in the Washington, D.C. metropolitan area every year. Representatives from the County should be in attendance for industry events relevant to the retail sector in TASK 2C: ENGAGE IN PROMOTIONS order to meet target audience members face-to-face to promote AND ADVERTISING the benefits for retail in the County, build relationships within the community, and learn more about the trends and Promotional strategies are a way to highlight SAP offerings and conditions of the retail industry. These networking interactions retail opportunities in the County to the targeted audiences can be invaluable by enabling members of the target audience utilizing advertising and sponsorship. Promotions can be an groups to become introduced to the local retail opportunities excellent way to raise awareness about the retail opportunities and have an ongoing contact person moving forward. in the County to a broader audience at a minimal cost. The marketing effort can utilize existing branding materials, such The following organizations are the key industry groups as the County’s seal, branding colors, and slogans to minimize that frequently host events heavily attended by the target cost and present a unified image that corresponds with the audience groups: larger marketing efforts within the County.

• International Council of Shopping Centers These promotional and advertising efforts should be limited (ICSC): www.icsc.org to real estate and retail trade industry publications and events. • Urban Land Institute (ULI): www.uli.org There is limited value in promoting the aspects of the SAP and retail opportunities to the larger public, as few aspects of • Maryland Building Industry Association the plan implementation involve everyday residents. However, (MBIA): http://www.marylandbuilders.org/ information about retail opportunities in the County, and the • The Commercial Real Estate Development programs and incentives laid out in the SAP, should still be Association (NAIOP)—http://www.naiopdcmd.org/ available to the public on the County’s website and through social media. The County should check each group’s website for regular updates on events and ensure that a County official well-versed in the SAP is in attendance when available. For relevant topics,

109

Prince George’s County Competitive Retail Market Strategic Action Plan MARKETING STRATEGY

The following is a list of potential venues that would be strategic partners in its realization. In addition to providing appropriate for County promotion or advertising of the retail expertise to the County, these organizations can also leverage related information: their networks to further promote the efforts of the County and the SAP. • Booth rental on the trade floor of industry events • Advertisement placement in monthly and quarterly Some strategic partners that should be consider include, but are trade publications not limited to: • Sponsorship of industry events at a level sufficient for logo 1. Higher education institutions placement on the marketing materials of the event 2. Real estate industry groups This is by no means an exhaustive list, so other avenues can and should be evaluated on an individual basis. There may be other 3. Local business groups opportunities to reach the targeted audience groups through 4. State governmental agencies strategic promotion or advertising in other venues. Each of the potential strategic or joint venture partners are The County should establish a list of potential industry defined and further explained below: events and trade publications that would be appropriate for promotions or advertising. RCLCO recommends developing a Higher Education Institutions budget for promotions and advertising that will allow for two Examples: University of Maryland, Prince George’s County to four key investments annually. Community College Implementation Summary Higher education institutions train the next generation of • Lead: Retail Implementation Director leadership in, among other key professions, the fields of • Timeframe: Year 2 and ongoing planning, real estate, and business. There may be opportunities • Cost: Medium—Little staff time, but budget will to partner with academic leaders and instructors within local be necessary institutions to provide student support for SAP initiatives. • Impact: Medium—Well-placed promotions For example, an urban planning professor could utilize a and advertising can raise awareness and shopping center location highlighted for redevelopment in community engagement the SAP as a site for a real estate studio course. Students could provide additional support in data collection, market analysis, TASK 2D: EXPLORE JOINT VENTURES and visioning processes. Higher education institutions could also provide an excellent resource for recruiting interns who AND PARTNERSHIPS can focus on the implementation of the SAP. Eventually, Joint ventures and partnerships are a key element to ensuring these students and interns are likely to be professionals in the the success of the SAP in the multiactor world that typifies the regional real estate community that know and appreciate the real estate industry. There are multiple for-profit and nonprofit County’s strengths and can help influence real estate decisions entities that will be impacted by the SAP and who could be by their companies.

110

Prince George’s County Competitive Retail Market Strategic Action Plan MARKETING STRATEGY

Real Estate Industry Groups summarize the offerings under the SAP and overall goals for Examples: Urban Land Institute (ULI), International Council of the retail environment in the County. These groups could also Shopping Centers (ICSC) be key in building connections with high priority retailers or retail owners who may not have the broadest market knowledge Industry groups are key organizing agents in real estate, about retail in the County, but could be key partners in the providing a venue for the dissemination of news, best practices evolution of County retail. and business connections. The County could utilize a strategic partnership to encourage the retail opportunities in the area, State Governmental Agencies promote the successes of the SAP, and attract other target Examples: Maryland Department of Commerce, Maryland audience members such as developers, retailers, and land Economic Development Corporation (MEDCO) owners. An example of a strategic partnership would be Technical Assistance Panels (TAP) sponsored by ULI. In these There are multiple state-level, governmental agencies that are panels, experts from the real estate industry provide guidance tasked with promoting economic prosperity and growth in and expertise on specific plans or areas that a public entity is Maryland. These organizations engage in all aspects of the targeting for improvement. A TAP sponsored by ULI could business world, from providing training to issuing bonds for provide specific, actionable guidance on the redevelopment redevelopment. Some of the programs of these state-level of a retail center identified in the SAP. Another avenue of agencies could overlap with the same County-level initiatives collaboration could be in providing speakers during an industry of the SAP. For example, MEDCO is able to issue bonds, event presentation. For example, the County could also provide purchase real estate, and manage redevelopment projects. speakers to share more about their experience working on the It could be a strong strategic partner in the acquisition and SAP, addressing the challenges and opportunities of developing redevelopment of the retail centers identified for reinvestment a robust retail market in the area. in the SAP. There may also be opportunities to utilize state- level funds to finance the signage improvement grants or other Local Business Groups SAP offerings. Examples: Prince George’s Chamber of Commerce, Prince George’s Implementation Summary Business Roundtable • Lead: Retail Implementation Director Local business groups are distinct from the groups listed • Timeframe: Year 2 and ongoing above because they are not industry-specific. Rather, they • Cost: Medium—Staff time to make contact and time spent connect entrepreneurs across businesses and industries to outside of normal business hours share connections and best practices. They also advocate for the interests of business owners and are highly attuned to • Impact: High—A key partnership or joint-venture could the interests and incentives of this group. The County could jump start crucial aspects of the SAP partner with either the Chamber of Commerce or the Business Roundtable to provide a speaker to present to each group. The County officials could provide the business community with an overview of the retail opportunities in the County,

111

Prince George’s County Competitive Retail Market Strategic Action Plan MARKETING STRATEGY

OBJECTIVE 3: EVALUATE MARKETING SUCCESS

The final and ongoing object of the Marketing Strategy is to • Publish one to five tweets or Facebook page evaluate the overall success of the oulined marketing efforts. updates per week. It is essential to establish tangible metrics to evaluate the • Make personalized contact with four to six key target impacts and success of the marketing strategy. These metrics, audience members per week by calling retail owners, once identified and agreed upon, should be consistently developers and brokers, attending networking events or monitored to ensure that the plan is being realized in a way making office visits. that is delivering value to the County and its stakeholders. Finally, the findings from the evaluation process should be Qualitative integrated into the Marketing Strategy, thereby revising and County officials: enhancing the goals and strategies. This objective is outlined • Establish and deepen relationships with high-priority in two key tasks. retailers identified in the SAP and Market Opportunity Analysis document. TASK 3A: ESTABLISH MARKETING GOALS • Develop a partnership with a local higher education institution. The first key to evaluation is to establish a set of goals that • Ensure that retail brokers in the County are aware of the can be described both quantitatively and qualitatively. goals, offerings, and implementation of the SAP. These goals will then be used to establish how successful the marketing strategy has been, and what improvements These goals are by no means an exhaustive list that should should be introduced into the strategy. The goals should be be adopted under the SAP. A more exhaustive list should be written in such a way so that it is possible to establish how established upon the completion of objectives one and two of successful they have been. In other words, the goals language the marketing strategy. After fully completing the action items should be specific to avoid ambiguity as to whether they have above, County officials should collaborate with all individuals been successful. and entities outlined in the SAP to ensure that the goals of the marketing strategy are in-line with the SAP. The following are some examples of quantitative and qualitative goals that should be part of the Marketing Implementation Summary Strategy goals: • Lead: Retail Implementation Director Quantitative • Timeframe: Year 2 County officials: • Cost: Low—Staff time to implement

• Attend one to two real estate industry or business group • Impact: Medium—Goal setting is an important aspect to events per month. a marketing strategy • Send one to two email newsletters or updates per month.

112

Prince George’s County Competitive Retail Market Strategic Action Plan MARKETING STRATEGY

TASK 3B: MONITOR MARKETING RESULTS • Impact: High—Monitoring and revision of goals is the feedback loop to ensure realization of the Once marketing goals have been established and agreed upon marketing strategy by key County staff members, it is essential to constantly monitor how well they are being achieved. The monitoring of marketing results will allow the County to better understand how successful the marketing of retail in the County has been and whether or not adjustments need to be made to the marketing strategy itself. Ideally, this final step of the marketing strategy will act as a feedback loop for all of the other elements, allowing for constant refinement and enhancement as needed.

The goals of the marketing strategy should be monitored on a semi-monthly or monthly basis by County staff. Each goal should be reviewed and specific metrics should be identified and reviewed. If goals are not on track to be met during a given time period, County staff should either prioritize the realization of those goals over the subsequent time period, or make note to consider revising the goal during the annual goal audit.

Every calendar or fiscal year, the County staff should complete a full audit of the marketing strategy goals. Success and deficits should be identified and articulated. If goals were not reached, County staff should allocate additional resources to ensure the accomplishment of the goal over the following year or adjust the goal to better match the available fiscal and human capital resources. Alternatively, if goals have been thoroughly outperformed by County staff, it may be worth considering an upward revision to encourage continued strong performance within that category. Implementation Summary • Lead: Retail Implementation Director • Timeframe: Year 2 and ongoing • Cost: Low—Staff time to implement

113

Prince George’s County Competitive Retail Market Strategic Action Plan

APPENDIX APPENDIX I M-NCPPC

APPENDIX I: SHOPPING CENTER INVENTORYExhibit IV-1

INVENTORY OF SHOPPING CENTERS FROM RETAIL SURVEY PRINCE GEORGE'S COUNTY, MD OCTOBER 2014

Beltsville Commerce 105-11001 altimore trip/ ld ine ine Three rothers eauty Atomic ollege Park 1 ocal - low 2000 2000 100 0 0 2.3 100 23.52 Center Ave onvenience pirits and istro Music tore Powder Mill Station 11101-11123 altimore trip/ ollege Park 1 ocal - low 1152 001 10 0 0 0 0 1.2 0 21. Shopping Center Ave onvenience 11110-1111 altimore eighborhood CVS Center ollege Park 150 ocal - low 220 220 100 2 1112 0 0 0 0. 50 - Ave enter Next to Eastgate - heverly-ew trip/ Tons of vacancy - possible 11300 reenbelt Rd 200 ocal - low 2250 131 1 0 0 0 . 125 ithheld possible addition arrollton onvenience addition to Eastgate enter A couple vacancies with signs South Potomac 113-1112 ivingston trip/ outhwest 12 - ocal - low 1100 110 0 0 0 still up tag and title ethnic 1. 100 1.5 Commerce Center Rd onvenience restaurants salons church Maryland Farms 1130-112 herry Hill trip/ Restaurants cleaners beauty ollege Park 13 2001 ocal - low 300 1 0 0 0 1. 10 2.00 Shopping Center Rd onvenience cash depot Calverton Shopping eighborhood 1101-1123 eltsville Dr ollege Park 1 200 A Regional - mid 0 32 2 2000 iant aves iant 0 1.0 ithheld Center enter trip/ aercie and Fidos for 1200 andy pring Rd aurel 155 - ocal - low 15230 15230 100 0 0 0 1. 5 - onvenience Freedom eighborhood 0 inline: UP tore Mitchellville Plaza 12100-12200 entral Ave owie 11 Regional - low 151 15201 51 5100 Food ion 0 Food ion 30.0 ithheld enter cleaners pharmacy offices eighborhood Fairwood Green 1220 Fairwood Pky owie 200 A Regional - mid 110 113 20 25000 afeway olds ym afeway ine casual food 2. 5 2.1 enter 12525-125 aurel owie eighborhood Rite Aid out oodwill liuor fast casual Crystal Plaza aurel 1 1 - Regional - low 21321 25 32 325 Food ion Food ion . 0 2. Rd enter parcel medical office Exhibit IV-1 Printed: /10/2015 Page 1 of 10 116

Prince George’s County Competitive Retail Market Strategic Action Plan APPENDIX I M-NCPPC

Exhibit IV-1

INVENTORY OF SHOPPING CENTERS FROM RETAIL SURVEY PRINCE GEORGE'S COUNTY, MD OCTOBER 2014

Number Number Land of Average Local Trade RCLCO Center Year Year Level of repair/ Quality of Center Occupied Percent Of Anchor RCLCO Junior RCLCO Grocery Area Parking Weighted Center Name Center Address Area Type Built Renovated reinvestment Tenants RBA/ GLA GBA Leased Stores GLA (SF) RCLCO Anchor Anchor Anchor RCLCO In-line Tenants/Mix (AC) Spaces Rent early 100 occupied martial eighborhood Potomac Village 120-12 ld Fort Rd outhwest 1 1 A- Regional - low 0000 122 1 25 Fitness Evolution Dollar eneral 0 arts salons cleaners bank . 350 1.0 enter clinic restaurants Bowie Road Shopping eighborhood 131 owie Rd aurel 12 1 ocal - low 1010 50 11 acant 0 0 0 . 50 23.0 Center enter 13200-1330 aurel owie eighborhood Pepboys uper Family Town Center Shopping aurel 1 - Regional - low 2 0 20000 on-ational Ethnic food laundry 3.1 ithheld Rd enter est Market Dollar eighborhood Pointer Ridge Plaza 133 orthwest rain Hwy owie 1 ational - mid 252 32522 5 2 150 0 0 ubway salons liuor store 10.2 0 ithheld enter 1350-1322 altimore eighborhood Marlo Home Center aurel 1 F ocal - low 21300 2113 2 132 Marlo furniture 0 0 0 12. 25 21. Ave enter 130-13511 altimore trip/ Contee Station aurel 1 ocal - low 30000 220 0 0 0 Furniture restaurant . 0 22.5 Ave onvenience eighborhood Pepboys uper Family Laurel Center 1300 aurel owie Rd aurel 12 - Regional - low 5015 5015 100 3000 on-ational Ethnic food laundry . 3 - enter est Market Dollar 1300-1300 altimore ommunity Centre at Laurel aurel 2005 A Regional - low 153 15 322 hoppers Petmart hoppers 0 15.2 33 ithheld Ave enter trip/ Laurel Center I 131 altimore Ave aurel 1 ocal - mid 5000 5 5 0 0 0 ervices and convenience 5.5 23 .00 onvenience angley Park- eighborhood La Union Mall 101 University lvd E 1 - ocal - low 000 000 100 0 0 0 0 All inline type . 33 - Hyattsville enter Michaels 1050-13 altimore afeway est uy Laurel Lakes Centre aurel Power enter 15 1 A- ational - mid 02 525 2 230 taples Ross afeway ubway hair cuttery 13.2 2 35.0 Ave owes D 1201-121 altimore trip/ Laurel Pond aurel 1 200 ocal - low 20000 20000 100 11 0 0 0 FedEx beauty services 1. - Ave onvenience 10 vacant pia laundry Walker Mill Square entral nside eighborhood aden Medical 120-1 Addison Rd 11 - ational - low 5 3 2 Family Dollar 0 salons restaurants 11.3 21 1.5 Shopping Center -5 enter ervices convenience store 121-123 altimore trip/ Duron Plaza aurel 1 ocal - low 11 151 0 0 0 0 0. 2.00 Ave onvenience 101-135 altimore trip/ Boulevard Shops aurel 10 ocal - mid 503 351 5 13 0 erion 0 0 .0 22 25. Ave onvenience Laurel Convenience trip/ 131 aurel owie Rd aurel 2003 A Regional - mid 12250 12250 100 0 0 0 Davita ail alon 0.0 0 - Center onvenience 103-10 altimore eighborhood Tower Plaza aurel 1 A- ocal - mid 05 203 5 12 0 0 0 Restaurants soft goods beauty 5.0 200 30.00 Ave enter Harris Teeter Regal inemas Mostly fast casual restaurants Towne Centre At Laurel 12 altimore Ave aurel ifestyle enter 201 A ational - mid 33555 203 2 100 urlington oat Party ity Harris Teeter 1.5 130 ithheld hair and nail salons Factory ld avy ports Authority mokey ones 15000-15200 Maor ommunity owie 1 A ational - mid 13 13 100 12023 Regal inemas T Fridays 0 0 1. 2 - ansdale lvd enter eafood angley Park- trip/ University Place Center 1500-1502 University lvd 15 200 - ocal - low 3011 3011 100 1 0 0 0 0 2.3 130 - Hyattsville onvenience angley Park- eighborhood Mattress University Plaza 1501-1535 University lvd 12 200 - ocal - low 51 31 10000 Deal 0 0 13. 530 25.20 Hyattsville enter arehouse trip/ Crossroads of Laurel 15101 altimore Ave aurel 200 - ocal - low 100 100 100 0 0 0 ails food 1.5 0 - onvenience Free State Shopping 1510-1552 Annapolis ommunity T Maxx ffice mall local serving - tarbucks owie 10 15 Regional - mid 25 223 5 33 1130 iant ross iant 12. 100 ithheld Center Rd enter Depot financial fast casual Regional/ uper Macys ears Bowie Town Center 150 Emerald ay owie 2001 A ational - mid 2 255 100 323 ff roadway 0 0 mall-uality tenants 231. ithheld Regional Mall arnes oble trip/ 15 vacant bakery barbers The Woodlyn 153 ivingston Rd outhwest ocal - low 10 0 0 0 0 0 onvenience offices 100 occupied salon Fast 155-15 ivingston eighborhood Accokeek Village Center outhwest 1 A- Regional - low 023 023 100 10 33000 Food ion 0 Food ion food cleaners convenience . 52 ithheld Rd enter store

Exhibit IV-1 Printed: /10/2015 Page 2 of 10 117

Prince George’s County Competitive Retail Market Strategic Action Plan APPENDIXM-NCPPC I Exhibit IV-1

INVENTORY OF SHOPPING CENTERS FROM RETAIL SURVEY PRINCE GEORGE'S COUNTY, MD OCTOBER 2014

Number Number Land of Average Local Trade RCLCO Center Year Year Level of repair/ Quality of Center Occupied Percent Of Anchor RCLCO Junior RCLCO Grocery Area Parking Weighted Center Name Center Address Area Type Built Renovated reinvestment Tenants RBA/ GLA GBA Leased Stores GLA (SF) RCLCO Anchor Anchor Anchor RCLCO In-line Tenants/Mix (AC) Spaces Rent Ritchie Marlboro 101-11 Ritchie Marlboro- Dollar Tree Modells ed ath Power enter A ational - mid 12535 0 0 s TMaxx ig ots s Marketplace Marlboro t estphalia and eyond entral nside trip/ 100 auto related sales and 1-31 Hampton Park lvd 1 - ational - low 1351 1351 100 iffy ube 0 0 1. 35 - -5 onvenience body shops 110-120 University lvd angley Park- trip/ TikTok Liquors 1 ocal - low 15 15 100 1 0 0 0 iuor store 2. 150 - E Hyattsville onvenience angley Park- trip/ 11-123 East-west Hwy 155 - ocal - low 132 132 100 1 13000 0 Rite Aid 0 Papa ohns 2 others 0.0 0 - Hyattsville onvenience trip/ Gorman Plaza 201-225 orman Ave aurel 10 Defunct ocal - low 1 151 1 0 0 0 nly Pasta Plus in business 0.2 0 35.0 onvenience angley Park- trip/ 2031 University Blvd 2031 University lvd E 1 - ocal - low 0000 2500 0 0 0 2 restaurants/clubs 2.5 25 12.12 Hyattsville onvenience angley Park- trip/ Riggs Plaza 205 University lvd E 151 - ocal - low 23 35 1 0 0 0 nsurance cleaners .5 0 15.00 Hyattsville onvenience Kaywood Shopping angley Park- trip/ hurch Famly 2201-2303 arnum t 12 - ocal - low 50 02 5 13 0 0 0 2. 0 ithheld Center Hyattsville onvenience Dollar angley Park- eighborhood nternational super Adelphi Plaza 232-230 University lvd 13 - ocal - low 21 21 100 0 on-ational 0 . 10 - Hyattsville enter market early 100 occupied fast food and casual restaurants Hillcrest Heights ranch eighborhood 23 verson t 153 200 - Regional - low 3301 3301 100 23 305 ave a ot Family Dollar av-A-ot cleaners and laundry hardware .0 00 - Shopping Center Avenue enter store barber ewelry tax services salons ranch trip/ 230-23 verson t 15 - ocal - low 2231 2231 100 220 Family Furniture 0 0 0 vacant salon 3. 0 - Avenue onvenience 200-2520 University lvd angley Park- eighborhood Mega Farmers Advanced Auto Adelphi Shopping Center 153 1 ocal - low 00 30 000 on-ational 0 .0 315 35.0 E Hyattsville enter Market Parts angley Park- eighborhood Chillum Shopping Center 21 hillum Rd 15 12 A- Regional - low 103 555 10 30030 hoppers 0 hoppers nly 3 .0 550 21. Hyattsville enter entral nside trip/ 100 occupied church salons Walters Lane Plaza 201-21 alters n 13 - ocal - low 1135 105 1 0 0 0 1.1 50 15. -5 onvenience laundry record store eighborhood 0 retail: battery store Watkins Park Plaza 2-50 atkins Park Dr owie 15 - ational - mid 1133 1133 100 2 500 A Fitness 0 3. - enter wireless carrier restaurants 200-20 elcrest enter angley Park- eighborhood Metropolitan Shops 200 A- Regional - mid 10000 153 20303 A Fitness taples 0 0 0 13.2 55 ithheld Dr Hyattsville enter Queens Chapel Town angley Park- eighborhood Post office services Aarons 20-311 Hamilton t 1 ocal - mid 1123 1111 3 0 0 0 5. 1 2.00 Center Hyattsville enter /11 Penn-Mar Shopping entral nside ommunity urlington 50 minor retail like Party city 250-33 Donnell Dr 10 200 ational - low 3551 3223 5 3 10 hoppers Ross hoppers 50.1 3110 ithheld Center -5 enter Peto taples salons and discount fashion The Shops At Queens 3032-3130 ueens hapel angley Park- eighborhood 15 200 - Regional - low 10 35 0 2 3000 Pricerite rocery on-ational Payless restaurants 12.1 1 2.2 Chillum Rd Hyattsville enter Thrift store ranch eighborhood Isiah 58 3100-310 ranch Ave 13 ocal - low 1521 1521 100 3 kating rink churches pawn 0 0 .5 30 - Avenue enter shop 311-31 ueens hapel angley Park- trip/ Advanced Auto 1 ocal - mid 3120 3120 100 Family Dollar 0 0 1.3 5 - Rd Hyattsville onvenience Parts Mostly occupied fast casual Rosecroft Shopping ranch eighborhood restaurants mattress store 3201 ld rinkley Rd 13 1 Regional - low 11010 102 2 32 umbo Food Family Dollar 0 .3 2 ithheld Center Avenue enter liuor store salon thrift store church eighborhood Bowie Marketplace 320-322 uperior n owie 1 10 Defunct ational - low 233 130 3 5 acant Rite Aid 0 Restaurant 20. 1230 ithheld enter Penn Forest Shopping entral nside trip/ 100 occupied salons liuor 3300-3320 alters n 1 ational - low 332 233 Dollar eneral 0 0 5. 200 ithheld Center -5 onvenience store laundry hinese eighborhood Advance Auto 0 retail banks and hair Collington Plaza 3300-350 rain Hwy owie 13 Regional - mid 12155 12155 100 20 5 iant iant 12. 1530 - enter Parts -Eleven salons entral nside eighborhood Marlo Furniture 50 vacant carpeting Aflac Marlo Plaza 330 Marlo ane - ocal - low 205 0 0 00 -5 enter howroom childrens learning center trip/ Ritas tool rental hinese taco 332 uperior n owie 10 ocal - mid 12000 12000 100 0 0 0 1.0 0 - onvenience bell

Exhibit IV-1 Printed: /10/2015 Page 3 of 10 118

Prince George’s County Competitive Retail Market Strategic Action Plan M-NCPPC APPENDIX I

Exhibit IV-1

INVENTORY OF SHOPPING CENTERS FROM RETAIL SURVEY PRINCE GEORGE'S COUNTY, MD OCTOBER 2014

early 100 occupied salons ranch trip/ Silver Hill Station 025 ilver Hill Rd 10 ocal - low 3000 3000 100 0 0 0 liuor store dentist fast casual 3. 100 - Avenue onvenience restaurant cleaners church

ommunity 0 local and regional stores Bowie Town Center Strip 101 orthview Dr owie 2001 A- ational - mid 10005 10005 100 2 afeway Dollar Tree afeway 0.0 0 0.00 enter hristian book blinds heverly-ew trip/ S & R Center 31-325 enilworth Ave 1 ocal - low 20000 20000 100 0 0 0 ails bars fast casual 1.5 120 - arrollton onvenience trip/ 10-1 Powder Mill Rd ollege Park 1 - ocal - low 155 155 100 0 0 0 /11 1.1 2 - onvenience

Havertys Petsmart ports Bowie Gateway Center 10-00 Mitchellville Rd owie Power enter 15 ational - mid 50 50 100 15 33331 Target 0 25 other big box 3.0 11 - Authority taples ig ots

trip/ College Park Center 513 ollege Ave ollege Park 120 A- ocal - high 130 130 100 0 0 0 0 0. 32 - onvenience 51-53 t. arnabas ranch trip/ 15 - ational - low 1332 13231 0 0 0 ricket pia Dollar Rent a car 1. 5 1. Rd Avenue onvenience heverly-ew trip/ Three brothers restaurant Three Brothers Center 521-531 enilworth Ave 10 - ocal - mid 21250 21250 100 0 0 0 1. 5 - arrollton onvenience hinese self defense

Exhibit IV-1 Printed: /10/2015 Page 4 of 10 119

Prince George’s County Competitive Retail Market Strategic Action Plan APPENDIXM-NCPPC I

Exhibit IV-1

INVENTORY OF SHOPPING CENTERS FROM RETAIL SURVEY PRINCE GEORGE'S COUNTY, MD OCTOBER 2014

Jemals Bladensburg heverly-ew trip/ 13-0 Annapolis Rd 1 1 - ocal - low 335 225 0 0 0 /11 5.0 120 20.0 Shopping Center arrollton onvenience eighborhood Duvall Village Center 25 lenn Dale Rd owie 1 ocal - mid 202 50 1 12 acant 0 0 ubway local restaurant 53.1 5 ithheld enter heverly-ew eighborhood illage Thrift hina ity Papa ohns other Port of Bladensburg 50-50 Annapolis Rd 1 ocal - low 1102 1102 100 2 Americana rocery on-ational 3. 15 - arrollton enter tore Autoone cleaners/beauty onvenience store salons food entral nside trip/ Suitland Road Plaza 0-35 uitland Rd 12 - ocal - low 1111 1111 100 0 0 0 markets barber carry out child 3.0 0 - -5 onvenience care trip/ Hollywood Plaza 2-3 Edgewood Rd ollege Park 11 ocal - low 10523 23 0 0 0 0 0. 50 22.0 onvenience Marlborough Village 5010-50 rown tation Marlboro- eighborhood illage enter 20 vacant cleaners salon 10 A ocal - mid 102 131 0 035 00 2.2 50 23. Center Rd estphalia enter Farmers Market bail bonds Garrett Cove Shopping trip/ 501-503 arrett Ave ollege Park 1 - ocal - low 22 22 100 3 0 0 0 -Eleven .0 10 - Center onvenience angley Park- trip/ 5101-5113 altimore Ave 1 ocal - mid 11000 0 0 0 0 0 0 0.1 15 ithheld Hyattsville onvenience angley Park- trip/ 5112-5122 altimore Ave 150 10 ocal - mid 1005 1005 100 0 0 0 0 0.2 0 - Hyattsville onvenience 100 occupied several salons trip/ Kettering Crossing 51- ettering Dr owie 11 ocal - low 20 20 3 0 0 0 thrift and dollar stores local 3. 1 ithheld onvenience pia restaurant trip/ 0 vacant pawn clothing 5225 ndian Head Hwy outhwest - ocal - low 1500 0 0 0 0 0 onvenience carry out barber The Shops at heverly-ew trip/ 531-505 Annapolis Rd 15 ocal - low 1200 1200 100 0 0 0 0 1.1 53 - Bladensburg arrollton onvenience heverly-ew eighborhood Advanced Auto Bladen Plaza 500-5 Annapolis Rd 153 1 Regional - low 1 1 100 12 255 ave-a-ot av-A-ot ittle ceasers .0 210 15. arrollton enter Parts early 100 occupied cleaners fast casual 500-5 t. arnabas ranch eighborhood o Excuse Sunrise Shopping Center 1 2002 ational - low 2 532 2 000 Family Dollar 0 restaurants salons Army .5 315 ithheld Rd Avenue enter orkout recruiting dentist clinic barber paint store The Shops at District entral nside eighborhood 5 fast food barber salon 510-5500 ilver Hill Rd 200 A Regional - mid 33 33 100 1 iant 0 iant .1 250 - Heights -5 enter wireless carriers tax services heverly-ew eighborhood os alamos restaurant Plaza Del Alamo 5550 enilworth Ave 15 ocal - low 30000 30000 100 acant rocery 0 0 . 10 - arrollton enter convenience heverly-ew trip/ 500-520 enilworth Ave 1 - ocal - low 130 130 100 0 0 0 rickets beauty check cashing 0. 0 - arrollton onvenience Sargent Road Shopping angley Park- eighborhood 501-521 argent Rd 13 1 - Regional - low 5552 5552 100 3253 ave-a-ot out parcel av-A-ot 0 5.0 20 - Center Hyattsville enter

Exhibit IV-1 Printed: /10/2015 Page 5 of 10 120

Prince George’s County Competitive Retail Market Strategic Action Plan M-NCPPC APPENDIX I

Exhibit IV-1

INVENTORY OF SHOPPING CENTERS FROM RETAIL SURVEY PRINCE GEORGE'S COUNTY, MD OCTOBER 2014

ranch trip/ 513 Allentown ay 15 ocal - low 120 0 0 0 0 0 Two churches 1.3 0 12.00 Avenue onvenience entral nside eighborhood Advance 30 retail rent a center pia Silver Hill Plaza 5-50 ilver Hill Rd 12 - Regional - low 13225 13225 100 15 10253 hoppers 0 33.2 10 2.00 -5 enter Auto Parts salons wireless carrier early 100 occupied barber ranch trip/ trophy store clothing stores 500-52 Allentown ay 1 - ocal - low 1103 1103 100 0 0 0 0. 5 - Avenue onvenience church international grocery salon printing store angley Park- trip/ Sheridan Station 50 Riggs Rd 152 1 ocal - low 33 33 100 11 0 0 0 0 2.5 231 - Hyattsville onvenience 525-533 Martin uther entral nside eighborhood 10 ational - mid 352 352 100 0 0 0 barber salon auto parts 0.0 200 - ing r Hwy -5 enter 5 Martin uther ing r. entral nside eighborhood 15 ational - low 30 335 1 Family Dollar ave-a-ot 0 50 pawn salon hinese food 3.5 1 2. Hwy -5 enter T Maxx urlington oat Regional/uper Target Marshalls ots of beauty fashion some Beltway Plaza Mall 000 reenbelt Rd ollege Park 11 2000 - ational - low 00220 22 2 120 335 Factory iant 115.0 5 1.32 Regional Mall iant restuarants hoppers orld ig ots Eastpines Shopping heverly-ew eighborhood Pia oven beauty supply 000-001 th Ave 155 ocal - mid 21253 1132 1 0 Pharmacy 0 . 130 15.00 Center arrollton enter barber entral nside trip/ early 100 occupied laundry Parkland Stop and Shop 013 Marlboro Pike 15 1 ocal - low 5225 2 0 0 0 5.2 110 12. -5 onvenience salon carry out auto parts taples Ross ommunity 0 restaurants electronics Rivertowne Commons 01-235 xon Hill Rd outhwest 1 ational - low 211 2051 100 2 1005 Mart afeway 0 20. 2 2. enter shoes Dollar Tree The Shoppes at trip/ 101-13 High ridge Rd owie 200 ocal - mid 13001 13001 100 000 one 0 0 Food restaurants 12. 13 - Highbridge onvenience eighborhood Advance Auto ireless carriers random Oxon Hill Plaza 151-21 ivingston Rd outhwest 1 2000 Regional - low 1202 1051 510 hoppers hoppers 5.1 ithheld enter Parts Marshalls assortment of local tenants Capital Plaza Shopping heverly-ew ommunity nternational food 200 Annapolis Rd 13 1 ational - mid 325 30022 5 5 133 almart on-ational 0 352.1 3 ithheld Center arrollton enter mart ranch trip/ 200 oventry ay 1 ocal - low 1053 1053 100 0 0 0 1 church 3 restaurants 1 salon 2. - Avenue onvenience 0 retail: restaurants checks entral nside eighborhood Medical linic Addison Plaza 200-300 entral Ave 1 Regional - mid 1 532 1 552 afeway afeway cashed police substation 2. 0 ithheld -5 enter salons Exhibit IV-1 Printed: /10/2015 Page 6 of 10 121

Prince George’s County Competitive Retail Market Strategic Action Plan APPENDIXM-NCPPC I Exhibit IV-1

INVENTORY OF SHOPPING CENTERS FROM RETAIL SURVEY PRINCE GEORGE'S COUNTY, MD OCTOBER 2014

Number Number Land of Average Local Trade RCLCO Center Year Year Level of repair/ Quality of Center Occupied Percent Of Anchor RCLCO Junior RCLCO Grocery Area Parking Weighted Center Name Center Address Area Type Built Renovated reinvestment Tenants RBA/ GLA GBA Leased Stores GLA (SF) RCLCO Anchor Anchor Anchor RCLCO In-line Tenants/Mix (AC) Spaces Rent trip/ arbers salons tobacco 202-21 ivingston Rd outhwest - ocal - low 111 0 0 0 0 0 onvenience wireless carrier/rental car Dollar Tree angley Park- trip/ 250-20 enilworth Ave 13 - ocal - mid 3051 3051 100 0 Advanced Auto 0 Restaurant post office 3.5 10 - Hyattsville onvenience Parts angley Park- trip/ Pg brake service bakery one 300 enilworth Ave 10 F ocal - low 12032 12032 100 0 0 0 0.5 25 - Hyattsville onvenience vacant ranch eighborhood Mostly occupied Five uys Coventry Plaza 300-20 oventry ay 10 1 Regional - low 1321 1321 100 21 00 hoppers 0 hoppers 11. 5 - Avenue enter Dollar store ranch trip/ 301-30 Allentown Rd 1 - ocal - low 235 235 100 illage Thrift tore 0 0 Ethnic grocer/restaurant 0. 200 - Avenue onvenience Oxon Hill Shopping eighborhood 301-31 ivingston Rd outhwest 11 - ocal - low 121 121 100 5000 eauty U Aldi ave-a-ot Aldi 30 cleaners and salons 1.5 300 - Center enter early 100 occupied up and ranch trip/ downstairs wireless carrier Lusby Building 30-321 Allentown Rd 15 - ational - low 120 120 100 -Eleven 0 0 0. - Avenue onvenience liuor store sub shop salon bail bonds 32-33 ew angley Park- trip/ iuor pawn broker Shop-Rite Center 1 ocal - low 213 213 100 1 0 0 0 1.2 50 - Hampshire Ave Hyattsville onvenience convenience store ome vacancies salons ranch trip/ Old Branch Crossing 333 ld ranch Ave 12 - ocal - mid 1032 1032 100 The Market 0 0 antiues dollar store chicken 0.1 - Avenue onvenience restaurant entral nside ommunity 30 occupied dentist laundry Great Eastern Plaza 333-1 Marlboro Pike 15 Defunct ocal - low 250105 252 22 135220 ew2 Fitness 0 0 11.5 22 ithheld -5 enter liuor discount male fashion ranch trip/ ar without signs hinese 35-501 uitland Rd 1 ocal - low 2503 2503 100 0 0 0 . 0 - Avenue onvenience food salon cleaners barber early 100 occupied church Clinton Square Shopping 15-5 ld Alexandria ranch trip/ 1 ocal - low 11 11 100 12 0 ports ar 0 hookah bar fitness studios 1. - Center Ferry Rd Avenue onvenience salon pia heverly-ew eighborhood 500-52 andover Rd 1 - Regional - low 10 10 100 23000 Aldi Aldi leaners nails liuor 3. 310 - arrollton enter Capital Corner Shopping heverly-ew trip/ 505 Annapolis Rd 1 - ocal - low 32 330 15 110 0 Dollar Tree 0 iuor cleaners . 20 1. Center arrollton onvenience Green Meadows angley Park- trip/ 53-55 Ager Rd 1 - ocal - low 201 12 1 0 0 0 0 12.5 5 ithheld Shopping Center Hyattsville onvenience ranch trip/ Restaurants insurance salon Coventry Center 51-5 oventry ay 1 - ocal - low 11500 11500 100 0 0 0 1. 35 - Avenue onvenience real estate entral nside trip/ 11 Marlboro Pike 1 - ational - low 20000 12000 0 Family Dollar Autoone 0 Remaining space vacant 2.2 12.00 -5 onvenience Crestview Square heverly-ew eighborhood alue illage 11-3 Annapolis Rd 11 ocal - mid 0 0 100 1 3100 0 0 0 .3 5 ithheld Shopping Center arrollton enter Thrift Family ranch trip/ arbers checks cashed salon 25 uitland Rd 1 - ocal - low 1 1 100 0 0 0 1.1 52 - Avenue onvenience tax services ational retailer outlets like Tanger Outlets 00 xon Hill Rd outhwest utlet 2013 A ational - high 2215 2215 100 Ralph auren HM 0 0 . 150 - oach ike Michael ors Approx. 25 retail: 2 laundry Metzerott Plaza - Part of heverly-ew trip/ 0 Riverdale Rd 11 1 - ational - low 1200 1200 100 13000 Rite Aid Family Dollar 0 hinese food wireless carrier 1. 0 - Wildecroft arrollton onvenience checks cashed bank 0- aurel owie eighborhood Fitness center in Bowie Plaza owie 1 ocal - mid 10122 23 2 15000 0 Financial food 55.2 53 ithheld Rd enter anchor space Approx. 25 retail: 2 laundry Wildecroft Shopping heverly-ew trip/ 0-20 Riverdale Rd 11 - ational - low 250 250 100 500 Rite Aid Family Dollar 0 hinese food wireless carrier 2.2 5 - Center arrollton onvenience checks cashed bank ommunity -Eleven Aldi Moms The Hilltop Plaza 30 Race Track Rd owie 1 2011 A Regional - high 1512 1201 3 11 505 Aldi Moms 0 .1 12 ithheld enter Advanced Auto rganic 001-101 Martin uther entral nside eighborhood 0 retail salons wireless King Shopping Center 11 - Regional - low 35 20 5 2 52000 hoppers hoppers 1. 25 21. ing r Hwy -5 enter carrier clinic tax services 15 vacant tarbucks eighborhood Manokeek Village Center 025 erry Rd outhwest 2003 A Regional - mid 101 303 2 5500 iant 0 iant hinese food cleaners and 23.1 5 ithheld enter salons Exhibit IV-1 Printed: /10/2015 Page 7 of 10 122

Prince George’s County Competitive Retail Market Strategic Action Plan M-NCPPC APPENDIX I Exhibit IV-1

INVENTORY OF SHOPPING CENTERS FROM RETAIL SURVEY PRINCE GEORGE'S COUNTY, MD OCTOBER 2014

alons fast casual restaurants ranch eighborhood 050-0 Allentown Rd 11 Regional - mid 321 321 100 5000 iant iant real estate office beauty supply 11.3 50 - Avenue enter cleaners liuor store

Rugged College Park Shopping eighborhood 23-30 altimore Ave ollege Park 1 10 A- ational - mid 11 13 3 2 303 0 arehouse 0 tarbucks oodles o 10.5 0 ithheld Center enter FedEx heverly-ew trip/ 0 restaurant barber Kent Village Center 30-31 andover Rd 15 1 - ational - low 1000 2 0 1 000 Family Dollar 0 0 .0 21 1.12 arrollton onvenience wireless carrier trip/ 313 altimore Ave ollege Park 2005 A ocal - mid 1300 11210 2 0 0 0 Restaurants 0. 30 3.5 onvenience Laurel Park Shopping trip/ 01-2 an Dusen Rd aurel 1 ocal - mid 23 211 11 0 0 0 0 11.2 115 1.0 Center onvenience trip/ 0 vacant liuor and pia 0 ivingston Rd outhwest - ocal - low 11100 0 0 0 0 0 onvenience barber upstairs Petmart Dollar heverly-ew ommunity Greenway Center 0-55 reenbelt Rd 10 200 A Regional - mid 222 2 3 1255 afeway Tree Modells afeway ome national 3. 25 2.00 arrollton enter heverly-ew eighborhood ash Depot Dollar Plus Community Shop N Go 23- Annapolis Rd 155 ocal - low 15 33 5 0 ank 0 1. 10 2. arrollton enter Hair/ails heverly-ew trip/ 50 Annapolis Rd 15 ocal - low 11000 11000 100 0 0 0 et cleaners nails 0. 2 - arrollton onvenience heverly-ew eighborhood Glenridge Center 500-55 Annapolis Rd 11 13 Regional - mid 125 1213 13 255 iant Dress arn iant 0 10.5 00 ithheld arrollton enter heverly-ew trip/ 0 pawn wireless store hair 501-53 andover Rd 151 F ocal - low 2211 2112 Ace Food Mart 0 on-ational 3. 110 2.1 arrollton onvenience salon Osborne Shopping Marlboro- eighborhood 51-20 rain Hwy 11 A Regional - mid 230 0 355 0 0 0 0 23. 50 ithheld Center estphalia enter heverly-ew eighborhood 20 vacant 50 beauty Dodge Plaza 00- andover Rd 15 1 - ocal - low 1112 102 21 5022 andover Food 0 on-ational 12.0 00 21. arrollton enter cleaners liuor Palmer Park Village entral nside trip/ 0 occupied boxing gym 01-2 arlowe Rd A- ocal - low 2555 2555 100 0 0 0 0.2 110 - Center -5 onvenience liuor store church Forestville Plaza entral nside ommunity 0 vacant mattress 02- Marlboro Pike 13 Regional - low 3031 2021 11 Roses ave-a-ot 0 3.5 10 ithheld Shopping Center -5 enter discounter store barber The Shoppes At New heverly-ew 10-2 Riverdale Rd Power enter 10 2001 A- ational - mid 3001 30305 15 2022 owes hoppers hoppers Fast food 0.2 110 ithheld Carrollton arrollton entral nside trip/ 0 occupied pia deli Forest Square 01-21 Parston Dr 12 - ocal - low 15 130 0 0 0 1. 100 1.5 -5 onvenience wireless carrier church salons Price usters 0 occupied ounty entral nside trip/ 10-0 entral Ave 1 ocal - low 205 1 1 Furniture and 00ffice hristian bookstore 1.0 120 20.0 -5 onvenience Mattress salons Langley Park Shopping 00-050 ew angley Park- trip/ 10 2001 ocal - low 12255 1352 2 10 Rite Aid allo lothing 0 0 1.1 32 ithheld Center Hampshire Ave Hyattsville onvenience 0 retail cash advances entral nside trip/ Park Central 01-3 entral Ave 10 A- ocal - low 0 0 100 12 onference enter Dealt fixtures 0 rental cars barber .2 210 - -5 onvenience consignment Atlantic 01-011 ew angley Park- ommunity Regency Langley Park Plaza 1 ocal - mid 1223 12212 000 supermarket on-ational 0 25.1 100 2. Hampshire Ave Hyattsville enter Furniture nternational Foods early half vacant real estate ranch trip/ office church - related uses Clinton Station 1-30 ld ranch Ave 10 ocal - low 111 111 100 0 0 0 2.2 2 - Avenue onvenience tattoos salons restaurants fitness studio Defence Shopping heverly-ew eighborhood 33-3 Annapolis Rd 11 - ational - low 20 2103 11 taples 0 0 0 .3 0 1.5 Center arrollton enter

Exhibit IV-1 Printed: /10/2015 Page 8 of 10 123

Prince George’s County Competitive Retail Market Strategic Action Plan APPENDIXM-NCPPC I Exhibit IV-1

INVENTORY OF SHOPPING CENTERS FROM RETAIL SURVEY PRINCE GEORGE'S COUNTY, MD OCTOBER 2014

Number Number Land of Average Local Trade RCLCO Center Year Year Level of repair/ Quality of Center Occupied Percent Of Anchor RCLCO Junior RCLCO Grocery Area Parking Weighted Center Name Center Address Area Type Built Renovated reinvestment Tenants RBA/ GLA GBA Leased Stores GLA (SF) RCLCO Anchor Anchor Anchor RCLCO In-line Tenants/Mix (AC) Spaces Rent 000 Martin uther ing r heverly-ew trip/ 100 occupied salon/barber 10 - ocal - low 1150 1150 100 0 0 0 1.3 1 - Hwy arrollton onvenience laundry church Boulevard At The Capital 01-1100 apital entre HH regg owie ifestyle enter 2002 A ational - mid 055 11000 olds ym hoppers Fashion retail restaurants 10.0 135 ithheld Centre lvd hoppers orld trip/ 805 Washington Blvd 05 ashington lvd aurel 200 A ocal - mid 1100 1100 100 0 0 0 Armed Forces ids Play enter 0. 55 - onvenience trip/ Campus Village 15 altimore Ave ollege Park 12 ocal - mid 2521 2301 3 1 0 0 0 0 3. 20 ithheld onvenience Advanced Auto alue ity heverly-ew eighborhood Forman Mills Plaza 30 301-5 Annapolis Rd 12 1 - ocal - low 2320 21330 1 5 Furniture ave-a- av-A-ot 0 3.1 550 1.00 arrollton enter lothing ot arehouse eems 100 occupied pia ranch trip/ Old Branch Center 312-322 ld ranch Ave ocal - low 32 0 0 0 0 0 ethnic restaurants wireless Avenue onvenience carrier salons 100 local retail salons entral nside eighborhood Mini Plaza 5 ost Pl 1 - ocal - low 510 510 100 0 0 0 barber laundry clinic pia 3.2 105 - -5 enter liuor store entral nside eighborhood 0 retail salons and Landover Crossing 511-55 andover Rd 11 10 - ational - low 110 10 Planet Fitness 0 0 3. 00 ithheld -5 enter restaurants Cherry Lane Business trip/ 30 herry n aurel 11 - ocal - mid 2135 1003 0 0 0 0 1.0 12.00 Park onvenience Woodyard Crossing ranch afeway Petco Electronic stores mattress 5-53 oodyard Rd Power enter 12 A ational - mid 52 305 2151 alMart afeway 5.1 2330 2.00 Shopping Center Avenue owes stores restaurants salons 0 retail cleaners salons entral nside ommunity Fitnessess Kingdom Square 00-15 entral Ave 10 1 - Regional - low 30 352 3 2 100 The anctuary 0 insurance wireless carriers 10.5 23 ithheld -5 enter Family Dollar liuor store Lanham Crossing eighborhood Fitness salons uniforms 0-5 Annapolis Rd owie 15 2012 ocal - mid 3 1 0 0 0 25. 0 ithheld Shopping Center enter international market heverly-ew eighborhood Cipriano Square Plaza 1-5 reenbelt Rd 12 ational - low 2 22 23 0 mart 0 0 eauty fast food 2. 33 21. arrollton enter ranch ommunity Clinton Plaza 2-0 oodyard Rd 10 ational - low 2232 2132 0 2 20232 mart mart ToysRUs 0 Appliance and Mattress stores 13.0 1 25. Avenue enter ndependent pharmacy fast restaurants vacuum servicing ranch trip/ Clinton Village 23-5 oodyard Rd 1 11 ocal - mid 5102 330 21 000 0 Auto one 0 wig store cleaners wireless .5 252 20.1 Avenue onvenience carrier financial services barber and salon ranch trip/ hurch barber salon dentist Clinton Center 0-0 tuart n ocal - low 32 0 0 0 0 0 Avenue onvenience restaurant egmans and Woodmore Towne Centre 001 McHugh Dr owie ifestyle enter 2010 A ational - mid 553 553 100 5101 ld avy egmans Mall retail restaurants 2. 110 ithheld Penney ranch eighborhood Clinton Garden 001 oody Ter 200 A ational - mid 3222 3222 100 ffice Depot algreens 0 0 . 15 - Avenue enter 9005-9039 Lanham 005-03 anham evern heverly-ew trip/ 15 - ocal - low 33 33 100 0 0 0 Food services 1. 35 - Severn Rd arrollton onvenience angley Park- eighborhood olden ull Restaurant other Metzerott Plaza 115-12 Riggs Rd 1 - ocal - low 53 53 100 23321 estway Market Rite Aid on-ational 3. 20 - Hyattsville enter general local ranch trip/ hurch-related uses and after 121 Piscataway Rd 11 ocal - low 215 100 0 0 0 2.5 0 1.0 Avenue onvenience school program trip/ 5 ethnic restaurants Fort Foote Center 201-231 xon Hill Rd outhwest 11 ational - low 25000 25000 100 0 -Eleven 0 2. 122 - onvenience cleaners salons and liuor ommunity Aarons Family lothes hard goods advanced Enterprise Plaza 321-3 Annapolis Rd owie 15 11 ational - low 20200 20200 100 5 203 Aldi T Maxx Aldi .2 0 - enter Dollar auto 0 Hobby goods soft Laurel Shopping Center 33 ashington lvd aurel Power enter 15 1 Regional - mid 312 3531 0 153 iant A Fitness iant 31.2 10 ithheld goods/fashion Seabrook Station 00-50 anham evern heverly-ew eighborhood 10 11 ocal - low 121 121 100 2 1513 0 Autoone 0 Food services 0 3.0 15 - Shopping Center, North Rd arrollton enter

Exhibit IV-1 Printed: /10/2015 Page 9 of 10 124

Prince George’s County Competitive Retail Market Strategic Action Plan M-NCPPC APPENDIX I Exhibit IV-1

INVENTORY OF SHOPPING CENTERS FROM RETAIL SURVEY PRINCE GEORGE'S COUNTY, MD OCTOBER 2014

URE: R otar

Exhibit IV-1 Printed: /10/2015 Page 10 of 10 125

Prince George’s County Competitive Retail Market Strategic Action Plan APPENDIXM-NCPPC III APPENDIX II: MAIN STREET RETAIL ANDExhibit IV-MIXED-USE2 RETAIL SURVEY SURVEY OF MAIN STREET RETAIL AND MIXED-USE RETAIL PRINCE GEORGE'S COUNTY, MD OCTOBER 2014

# of Store- Availability Main Street fronts RBA Rate Tenants Quality of Repair and Design Street Design and Aesthetics Image

Laurel Main Street 0 20510 1.50 A few local main street Historic buildings in overall good ide brick sidewalks in good repair with Main treet between appropriate tenants some repair some buildings needing street lamps and sidewalk landscaping. ashington lvd Riverview t tenants that could fit better additional maintenance and to Few crosswalks no bike lanes few bike elsewhere such as autoparts be restored to historic facades racks benches outdoor seating. several gift shops and arts shops

Old Town Bowie 11 32335 25.00 Mostly antiues 5- shops a hops are in good and historic plit nature of the shops limits walkability hestnut and anham evern restaurant and a post office. Main repair monotonous tenants limit and design little street furniture or hapel Ave. and th t. treet retail is on both sides of the capturing destination antiue cohesion as a district historic nature railroad tracks centered around shoppers for lunch soft goods and antiue shop cluster has potential for historic railroad community etc. building out future main street

Hyattsville Main Street 1 01 10.0 torefronts are about half-filled Mix of states of repair - some treet design has nice lampposts parallel altimore Ave. between and going through transition. buildings look well-maintained parking and bike racks sidewalks are Farragut and Hamilton Anchored at one end by Franklins with historic nature others narrow and landscaping would be Restaurant and rewery and at generally the vacant need beneficial no benches or outdoor other by a new bicycle shop a additionalwork gatheringspace . couple of cafes these tenants and current vacant spaces as well as Arts District ust orth provide a potential catalyst for future interesting and local tenants

Downtown College Park 20 103255 0 ollege-serving fast casual lend of new buildings and well- idewalks are brick and very wide with altimore Ave. between restaurants pubs and bars maintained older buildings mature trees street lamps district Hartwick and nox anchored on one end by a several buildings could use signage benches and outdoor gathering neighborhood shopping center a faade repairs and signage places ery wide street with few cross few services book stores/comic improvements but overall the walks median with fence to prevent ay- book stores for neighboring street has a distinct college walking no bike lane though there are anchor institution uality of retail character bike racks could potentially be improved in terms of soft goods.

Exhibit IV-2 Printed: /10/2015 Page 1 of 3 126

Prince George’s County Competitive Retail Market Strategic Action Plan M-NCPPC APPENDIXAPPENDIX II I

Exhibit IV-2

SURVEY OF MAIN STREET RETAIL AND MIXED-USE RETAIL PRINCE GEORGE'S COUNTY, MD OCTOBER 2014

# of Store- Availability Main Street fronts RBA Rate Tenants Quality of Repair and Design Street Design and Aesthetics Image

Riverdale Main Street 53 2 Decently sied Town enter Recently restored buildings ocation at Marc tation provides ueensbury Rd at Market other buildings are for fronting Marc station ome potential for commuter retail good Rhode sland and afayette lease with seemingly no tenants buildings south side of sidewalks landscaping entrance to Marc besides a hair studio ueensbury could use limited parking in front streetlamps and additional repair benches and green space. imited access by bike

Mount Rainier Main Street .10 Anchored on north end by new uildings are in need of repair ide sidewalks in need of minimal Rhode sland Ave between residential units on top of a nice and character roll bars on repairs parallel parking in front no street Eastern Ave. and 3th t. caf ther retail is not up to par - windows and entrances of some lamps minimal street furniture or Police precinct liuor store storefronts signage is minimal gathering space street trees in need of convenience and service stores some storefronts do have maintenance about half is vacant interesting and uniue character

Upper Marlboro Main Street 1 0 1.50 ity and ounty buildings provide ome buildings are in good treet is in good shape with brick Main treet between good anchors though also bring repair many need additional sidewalks well maintained gathering ervice n. and wen owie tenants such as bail bonds and work particularly faade work places with good uality street furniture at court lawyers a few restaurants on second stories signage does government buildings with plaas street and gift shops uality of tenants not match main street parking no street lamps bike racks or could be higher considering bike lanes landscaping on properties is anchor institutions good lacking street landscaping

Clinton Main Street 03 0 ervice-oriented barber shop n great need of repair and riented more as a shopping center than ld ranch between cleaners salons ar and rill 2 reinvestment very little main street parking lot in front no oodyard Rd. and linton t. vacancies character poor uality signage landscaping street furniture or green and facades space

Suitland Main Street 1 12 13.0 Restaurants services liuor Roll bars on all windows and ice wide sidewalks with a few parking uitland between barber shop 3- storefronts doors need signage spaces landscaping is present but could Homer Ave and ilver Hill Rd vacant improvements building needs use improvement no street furniture sprucing up but not highly expect two street lamps overall disrepair

Exhibit IV-2 Printed: /10/2015 Page 2 of 3 127

Prince George’s County Competitive Retail Market Strategic Action Plan APPENDIX II APPENDIXM-NCPPC I

Exhibit IV-2

SURVEY OF MAIN STREET RETAIL AND MIXED-USE RETAIL PRINCE GEORGE'S COUNTY, MD OCTOBER 2014

# of Store- Availability Main Street fronts RBA Rate Tenants Quality of Repair and Design Street Design and Aesthetics Image

District Heights Main Street 2 12 11.0 ervices fashion hair and beauty All stores have roll bars o landscaping or street furniture Marlboro Pike between supply stores some carry-out significant amount of trash parking out front little bicycle or Atec and cott ey restaurants lacks the feel and branding of a pedestrian access main street

Mixed-Use Retail National Harbor /A 250000 3.0 hile not a traditional or historic Retail is situated in a mixed-use treets and sidewalks are well Traditional eighborhood main street ational Harbor does setting with hotels residential maintained with plenty of room for Development not readily fit into a standard or office uses above retail bays. pedestrians and plenty of crosswalks and shopping center type. Tenants onstruction is new and well traffic calming measures. The are oriented towards tourists with maintained with standard landscaping is plentiful and well-cared for. many restaurants gift stores and facades that are clean and A plaa area is in the center with kiosks of tenants similar to uild-A-ear - modern looking temporary retail street furniture and not necessarily attracting county shade. The harbor area allows for residents for destination another uniue gathering place with shopping yet providing enough sufficient benches landscaping and retail and services for on-site or green space. The uniueness of the new nearby res ident s. a tional H arb or ferri s w hee l prov ides an in teres ting serves as a specific kind of backdrop to the scene of the harbor and destination retail as a lively and a view from the waterfront restaurants. exciting outing for tourists or ational Harbor is well set-up to continue residents but likely lacking a pursuing uality retail tenants and draw regional draw with consistent shoppers from regional locations customers spending a significant depending on how its retail program amount of money on retail goods. progresses particularly with the addition of the outlet mall recently and the future MM asino.

URE: otar R

Exhibit IV-2 Printed: /10/2015 Page 3 of 3 128

Prince George’s County Competitive Retail Market Strategic Action Plan APPENDIX III

APPENDIX 3: AT-RISK AND DISTRESSED SHOPPING CENTERS Shopping Centers Rated South Potomac Commerce Center St. Barnabas Plaza and Square “C” (At Risk) Suitland Road Plaza 2031 University Blvd Sunrise Plaza 9005 Landham Severn University Place Center Adelphi Plaza University Plaza Capital Corner Shopping Center Walters Lane Plaza Coral Hills Shopping Center Wildecroft Shopping Center Coventry Center Crystal Plaza Dodge Plaza Shopping Centers Rated Forest Square “F” (Failing) Garrett Cove Shopping Center 6300 Kenilworth strip center Green Meadows Shopping Center Ace Food Mart Strip Center (7501 Landover Rd) Hunters Mill Center Marlo Home Center Jemals Bladensburg Shopping Center Riverdale Shopping Plaza Kaywood Shopping Center Kent Village Center Defunct Centers La Union Mall Lusby Building Gorman Plaza Marlboro Square Great Eastern Plaza Marlo Plaza Steward Village Metzerott Plaza Mini Plaza Oxon Hill Shopping Center Park Way Shopping Center Plaza 30 Riggs Plaza Shopping Center (2031-2065 University Blvd East) Sargent Road Shopping Center Silver Hill Shopping Center

129

Prince George’s County Competitive Retail Market Strategic Action Plan CRITICAL ASSUMPTIONS

CRITICAL ASSUMPTIONS such a shock or boom. Also, it is important to note that it is difficult to predict changing consumer and market psychology. Our conclusions are based on our analysis of the information As such, we recommend the close monitoring of the economy available from our own sources and from the client as of the and the marketplace, and updating this analysis as appropriate. date of this report. We assume that the information is correct, complete, and reliable. Further, the project and investment economics should be “stress tested” to ensure that potential fluctuations in revenue We made certain assumptions about the future performance of and cost assumptions resulting from alternative scenarios the global, national, and local economy and real estate market, regarding the economy and real estate market conditions will and on other factors similarly outside either our control or that not cause failure. of the client. We analyzed trends and the information available to us in drawing these conclusions. However, given the fluid In addition, we assume that the following will occur in and dynamic nature of the economy and real estate markets, accordance with current expectations: as well as the uncertainty surrounding particularly the near- term future, it is critical to monitor the economy and markets • Economic, employment, and household growth. continuously and to revisit the aforementioned conclusions • Other forecasts of trends and demographic and economic periodically to ensure that they are reflective of changing patterns, including consumer confidence levels. market conditions. • The cost of development and construction. We assume that the economy and real estate markets will grow • Tax laws (i.e., property and income tax rates, deductibility at a stable and moderate rate to 2020 and beyond. However, of mortgage interest, and so forth). stable and moderate growth patterns are historically not • Availability and cost of capital and mortgage financing for sustainable over extended periods of time. The economy is real estate developers, owners, and buyers. cyclical, and real estate markets are highly sensitive to business • Competitive projects will be developed as planned (active cycles. Further, it is very difficult to predict when an economic and future) and that a reasonable stream of supply offerings and real estate upturn will end. will satisfy real estate demand. With the above in mind, we assume that the long-term average • Major public works projects occur and are completed absorption rates and price changes will be as projected, realizing as planned. that, most of the time, performance will be either above or below said average rates. Should any of the above change, this analysis should be updated, with the conclusions reviewed accordingly (and Our analysis does not consider the potential impact of future possibly revised). economic shocks on the national or local economy, and does not consider the potential benefits from major booms that may This engagement was conducted by Erin Talkington, Vice occur. Similarly, the analysis does not reflect the residual impact President, under the direction of Adam Ducker, Managing on the real estate market and the competitive environment of Director. If you have any questions regarding the conclusions and recommendations included herein, or wish to learn about other RCLCO advisory services, please call (240)-644-1311.

130

Prince George’s County Competitive Retail Market Strategic Action Plan GENERAL LIMITING CONDITIONS

GENERAL any public or private offering of securities or other similar purpose where it may be relied upon to any degree by any LIMITING CONDITIONS person other than the client without first obtaining the prior written consent of RCLCO. This study may not be used Reasonable efforts have been made to ensure that the for any purpose other than that for which it is prepared data contained in this study reflect accurate and timely or for which prior written consent has first been obtained information and are believed to be reliable. This study is from RCLCO. based on estimates, assumptions, and other information developed by RCLCO from its independent research effort, general knowledge of the industry, and consultations with the client and its representatives. No responsibility is assumed for inaccuracies in reporting by the client, its agent, and representatives, or in any other data source used in preparing or presenting this study. This report is based on information that, to our knowledge, was current as of the date of this report, and RCLCO has not undertaken any update of its research effort since such date.

Our report may contain prospective financial information, estimates, or opinions that represent our view of reasonable expectations at a particular time, but such information, estimates, or opinions are not offered as predictions or assurances that a particular level of income or profit will be achieved, that particular events will occur, or that a particular price will be offered or accepted. Actual results achieved during the period covered by our prospective financial analysis may vary from those described in our report, and the variations may be material. Therefore, no warranty or representation is made by RCLCO that any of the projected values or results contained in this study will be achieved.

Possession of this study does not carry with it the right of publication thereof or to use the name of “Robert Charles Lesser & Co.” or “RCLCO” in any manner without first obtaining the prior written consent of RCLCO. No abstracting, excerpting, or summarization of this study may be made without first obtaining the prior written consent of RCLCO. This report is not to be used in conjunction with

131

Prince George’s County Competitive Retail Market Strategic Action Plan ACKNOWLEDGEMENTS

The Prince George’s County Competitive Retail Market Strategic Action Plan was prepared by the Robert Charles Lesser and Company (RCLCO) Real Estate Advisors consultant team with assistance from The Community Land Use and Economics Group, LLC. The plan reflects input from Prince George’s County economic development and planning officials and staff, government leaders, elected officials, and business organizations.

THE PRINCE GEORGE'S COUNTY, MARYLAND COMPETITIVE RETAIL MARKET STRATEGIC ACTION PLAN STEERING COMMITTEE Prince George’s County Office of the County Executive

Rushern L. Baker, III, Prince George’s County Executive David S. Iannucci, Assistant Deputy Chief Administrative Officer Bradley W. Frome, Assistant Deputy Chief Administrative Officer

Prince George’s County Economic Development Corporation

Jim Coleman, President/Chief Executive Officer Larry Hentz, Director of Business Development

Prince George’s County Council

The Honorable Dannielle Glaros, Councilmember (District 3) Jackie W. Brown, Planning, Zoning and Economic Development (PZED) Committee Director

Prince George’s County Department of Housing and Community Development

Eric Brown, Director

Prince George’s County Redevelopment Authority

Stephen J. Paul, Associate Director

Prince George's County, Maryland Conference & Visitors Bureau, Inc.

J. Matthew Neitzey, CAE, CDME, CEcD, Executive Director THE MARYLAND-NATIONAL CAPITAL PARK AND PLANNING COMMISSION Prince George’s County Planning Department

Countywide Planning Division

Derick P. Berlage, AICP, Chief Jacqueline Philson, Project Facilitator and Manager Ted Kowaluk, Planner Coordinator, Special Projects

Community Planning Division

*Ivy Lewis, AICP, Chief

Strategy and Implementation Office

Vanessa Akins-Mosely, Chief

SPECIAL RECOGNITION AND APPRECIATION

Robert Charles Lesser and Company Real Estate Advisors (RCLCO)

Adam Ducker, Managing Director, Bethesda Office, Project Director Erin Talkington, Vice President, Project Manager Lee Sobel, Principal and Director of Public Strategies, Project Director*

The Community Land Use and Economics Group, LLC

Kennedy Smith, Principal

The Maryland-National Capital Park and Planning Commission, Prince George’s County Planning Board

Elizabeth M. Hewlett, Chairman Dorothy F. Bailey, Vice Chairman William M. Doerner, Ph.D Manuel R. Geraldo A. Shuanise Washington

The Maryland-National Capital Park and Planning Commission, Prince George’s County Planning Department

Office of the Planning Director

M. Andree Green Checkley, Director

*Former Employee Office and Publications Services, Publication and Graphic Design

Daniel Hartmann, Administrative Manager Dewayne Williams, Clerical/Inventory Operations Supervisor Robert Getz, Publications Specialist Ryan Craun, Senior Visual Media and Imaging Specialist

Countywide Planning Division

*Kerry Gathers, GIS Specialist II Brenda Spears-Travis, Principal Administrative Assistant

*Former Employee

The Maryland-National Capital Park and Planning Commission Prince George’s County Planning Department www.pgplanning.org