Metropolitan Bank Holding Invests $6M to Revitalize Westridge Square Shopping Center
- Metropolitan Bank Holding's MCB Real Estate invests over $6 million to modernize Westridge Square in Frederick, Maryland.
- MCB Real Estate aims to attract new tenants and enhance the shopping experience at Westridge Square.
- The revitalization plan focuses on creating a community hub with diverse retail and dining options to boost appeal.
Revitalization Efforts at Westridge Square: A Strategic Move for MCB Real Estate
Metropolitan Bank Holding focuses on the transformative initiatives undertaken by MCB Real Estate as it reinvigorates Westridge Square, a shopping center strategically located in Frederick, Maryland. Following its acquisition of the property in 2022, MCB Real Estate commits to a comprehensive repositioning strategy that includes an investment of over $6 million aimed at modernizing the center and enhancing tenant offerings. The recent opening of a new Crunch Fitness facility marks a significant milestone in these efforts, reflecting MCB's dedication to adapting the center to meet evolving consumer preferences.
Drew Gorman, Principal at MCB Real Estate, underscores the pressing need for improvements at Westridge Square, which has struggled to maintain its competitive edge against newer retail developments. Despite its prime location along Frederick's "Golden Mile," the shopping center faces challenges stemming from changing shopping habits since its establishment in 1985. MCB's multi-faceted approach not only seeks to attract new tenants but also involves extensive upgrades to the existing property, thereby creating an inviting environment that caters to the needs of the local community. The demographic data supports this strategy, with nearly 140,000 residents and 6,200 businesses located within a 15-minute drive, positioning Westridge Square as a potentially thriving retail destination.
The revitalization plan includes innovative strategies such as a redesign of the site layout and enhancements to the previously underutilized courtyard plaza. These changes aim to create a more dynamic shopping experience, encouraging increased foot traffic and fostering a sense of community among local residents and visitors. As Crunch Fitness steps in as an anchor tenant, MCB Real Estate anticipates that the new facility will not only enhance the center’s appeal but also serve as a catalyst for further growth and tenant interest, ultimately contributing to the long-term success of Westridge Square in the competitive Frederick retail landscape.
In addition to the fitness center, MCB Real Estate's strategy includes efforts to attract diverse retail and dining options that reflect contemporary consumer trends. This holistic approach aims to ensure that Westridge Square remains relevant and appealing in an increasingly competitive market.
As MCB Real Estate implements its revitalization strategy, the focus remains on fostering a vibrant community hub that meets the diverse needs of shoppers while enhancing the overall economic viability of the Westridge Square shopping center.