The retail portion of Upper Rock on Shady Grove Rd. in Rockville, across from Best Buy and Home Depot, has been sold. The retail property was sold by New York-based Zurick Alternative Asset Management, who acquired the property in late 2017, to an affiliate of the Friedkin Property Group for $14.15 million (as reported by Maryland Newsletters).
The Friedkin Property Group already owns the residential portion, Mira Upper Rock- a 551 unit multi-family complex that is 95% occupied, and a 238,000 square foot office building that was recently renovated and stands at 97% leased.
The Retail at Upper Rock is fully leased to a roster that includes MOM’s Organic Market, CVS, CAVA and Firehouse Subs. MOM’s Organic Market, the retail anchor, was founded in Rockville in 1987 and has since grown to over 15 locations, spanning 5 different states and Washington DC.