Lakeforest Mall closed on March 31, 2023, after nearly 45 years in Gaithersburg.
Originally opened on September 12, 1978, the mall featured anchor stores JCPenney, Sears, Woodward & Lothrop, and Hecht’s. It was one of the first malls in the U.S. to include an indoor ice-skating rink, and was the largest indoor shopping mall in Montgomery County at the time. The rink was later replaced by a movie theater in 1984, which eventually became a food court. The mall was built on the former Lake Walker Park and opened with approximately 30 to 50 stores, many of which relocated from the nearby indoor Village Mall, now Montgomery Village Center.
WRS Inc., a South Carolina-based real estate investment firm, purchased the “core” of Lakeforest Mall in 2019 and completed the acquisition of the mall’s four anchor sites in 2022.
In February, WRS confirmed to The MoCoShow that the first three retail tenants have officially signed on for the Lakeforest redevelopment in Gaithersburg. The initial lineup includes a roughly 140,000-square-foot Home Depot, which will be located between the existing Germantown and Shady Grove locations, a 23,000-square-foot Sprouts grocery store, which will be the County’s second location, and a 15,000-square-foot “boutique” Landmark Theatre, also the County’s second, as first reported by Maryland Newsletters.
With those retail commitments in place, WRS will be able to begin construction on a portion of its planned residential component. The retail phase unlocks development of some of the approximately 850 rental units that will sit above the retail buildings. Construction dates have not yet been announced and will likely follow the demolition of the existing mall structure, which also does not yet have a confirmed timeline.
The broader redevelopment plan calls for approximately 1,600 residential units, 750,000 square feet of employment space, 250,000 square feet of large-format retail, and 220,000 square feet of additional commercial space. Initial retail construction is expected to take place near Montgomery Village Avenue and Lost Knife Road, identified as Block C or D in planning documents.
Schematic plans outline a mix of retail, dining, and service uses throughout the future development. Block B is conceptually designed to include four standalone restaurants ranging from 6,000 to 10,000 square feet, an additional 2,750-square-foot restaurant, and several boutique-style shops such as ice cream or yogurt spots, smoothie and baked goods concepts, and small retail focused on jewelry and art. High street retail in this area is expected to feature bath and body products, cosmetics, apparel, footwear, and fitness-oriented stores.
Block C is tentatively planned to include a 30,000-square-foot fitness center, a credit union, pizza restaurant, hair salon, and an apparel store. Plans also include a large home improvement retailer, now confirmed as Home Depot, along with supporting neighborhood services such as a dry cleaner, shipping service, massage and chiropractic office, and dental clinic. Two additional large-format retailers, approximately 60,000 and 40,000 square feet respectively, are also anticipated in future phases.
In November, Montgomery County officials and local leaders held a ceremony marking the start of a new partnership with WRS Inc. to relocate and upgrade the Lakeforest Transit Center. Inside the existing mall, demolition work is already underway as crews prepare the long-vacant structure for a full teardown. While interior work continues, an exact date for the complete demolition of the mall building has not yet been announced.
