The multi-tenant retail shipping center known as The Shops At Congressional Village, a one/story commercial building and a leasehold interest on the first floor of 192 Halpine Rd in Rockville will be made available for auction on Wednesday, October 12th, 2022 at 11:00AM. The shopping center is currently home to 7-Eleve, ATI Physical Therapy, Heartland Dental, MyEyeDr., Verizon, and more.
The news was first reported by Biz Journals, who stated that the “owner defaulted on a 2019 mortgage it took out to refinance the property.” Per the article, “The Shops at Congressional Village fell victim to the Covid-19 pandemic and financial strain put on many of its tenants, according to Michael Hollander, general counsel for the Ronald Cohen Management Co., which owns the property at 1701 Rockville Pike through affiliate CV Shopping Center Associates LLC.”
Per Alex Cooper, the auction will be held at the Courthouse Of The Circuit Court For Montgomery County, Maryland, 50 Maryland Avenue, Rockville, MD 20850. A cash deposit or certified check made payable to the Substitute Trustees in the amount of $500,000 will be required of the purchaser at the time and place of sale. The purchaser is required to increase its deposit to 10% of the bid price within three (3) business days of the sale. Featured photo courtesy of Google Maps.