Lifetime Brands signs 15-year lease for 1.03M sq ft Hagerstown DC; relocation from Robbinsville by Q2 2026

LIFETIME BRANDS, INC

Lease for 1,027,526 sq ft Hagerstown, MD distribution center; 15-year term, base rent $7.3M first year, escalating 3% annually.
Relocation from Robbinsville, NJ; expected operational Q2 2026; increases capacity by 327,000 sq ft (46%).
Exit costs up to $7M (severance, relocation, remaining lease costs) and one-time relocation costs up to $7M in 2026.
Capital expenditures of ~$10M for equipment/leasehold improvements; tax abatements/incentives from Maryland ~$13M over lease term.
Total rent abatement of $7.2M for first 36 months; tenant improvement allowance $5.1M; letter of credit $2.7M.

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