Silver Spring residents will soon have a new place to shop downtown.

The Peterson Companies, the management company for downtown, officially welcomed the Swedish-owned fashion company H&M on Tuesday. The popular retail fashion chain will be taking over the majority of the former Border’s bookstore location at the corner of Fenton Street and Ellsworth Drive in September. 

“Border’s departure created a tremendous opportunity from a merchandising standpoint,” said Taylor Chess, senior vice president for retail leasing for The Peterson Companies. “Several national retailers expressed interest in this prime retail location, but H&M was the ideal fit to increase our fashion offerings and appeal to the fashion-conscious Silver Spring consumer.”

The retail company will only be occupying about 18,000 sq. ft. of the space leaving a remainder of 7,000 sq. ft. available to lease.

A leasing contract for the space adjacent to H&M hasn’t been signed yet, but Laurie Yankowski, Regional Marketing Director for The Peterson Companies, says the space will definitely be sought after.

“The space is the hottest space inside the beltway in Montgomery County. Downtown Silver Spring is a great mix of people and businesses,” Yankowski said. “Our leasing company is always working diligently to get the right retailers for downtown.”

Construction for the space hasn’t started yet, but The Peterson Companies is currently preparing the space to turn it over to H&M on May 7, Yankowski said.