Carl M. Freeman Companies, Prudential and ACA Group Moving to Pike & Rose Neighborhood

by MCS Staff
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Federal Realty announced today that three new tenants, Carl M. Freeman Companies (CMFC), Prudential Financial, Inc. (NYSE: PRU) and ACA Group, have committed to 909 Rose, located in the award-winning, transit-oriented Pike & Rose neighborhood in North Bethesda.

These new tenants will join ESABEmagine ITOneDigitalUnited SolutionsIndustrious and Federal Realty. With the addition of these three tenants, the building is now 89 percent leased.

Per the press release:

North Bethesda, Md. (December 17, 2021)Federal Realty Investment Trust (NYSE:FRT) announced today that three new tenants, Carl M. Freeman Companies(CMFC), Prudential Financial, Inc. (NYSE: PRU) and ACA Group, have committed to 909 Rose, located in the award-winning, transit-oriented Pike & Rose neighborhood in North Bethesda, Md. These new tenants will join ESAB, Emagine IT, OneDigital, United Solutions, Industrious and Federal Realty. With the addition of these three tenants, the building is now 89 percent leased.

Carl M. Freeman Companies, a leader in real estate development since 1947, will relocate its headquarters to 909 Rose in 2023. CMFC is taking 9,781 square feet on the 10th floor.

“Carl M. Freeman Companies has closely watched Pike & Rose develop into a sought after, lively neighborhood where you can live, shop, dine and work. We look forward to proudly call the North Bethesda destination our home,” said Nick Freeman of Carl M. Freeman Companies.

Prudential Financial, Inc., a global financial services leader and premier active global investment manager, is taking4,827 square feet on the sixth floor.

ACA Group, a leading governance, risk, and compliance advisor in financial services, will relocate from Silver Spring, Md., and take 8,739 square feet on the ninth floor.

909 Rose has a partial floor remaining and a limited number of extremely efficient, customizable spec suitesavailable with a choice of design finishes that tenants can tailor to their own specifications. These suites are located on the sixth floor, offer panoramic views and are move-in ready. In addition, the building features flexible workspaces from Industrious.

“As we near closeout at 909 Rose, we turn our attention to the next trophy building, 915 Meeting Street. The building breaks ground this month, with the announcement of Choice Hotels new HQ. ,” said Jay Brinson, Vice President Development at Federal. “The much-desired Pike & Rose neighborhood offers the right combination for today’s office user, a tremendous location with superb accessibility and transportation options, and the ultimate office flex space option from Industrious in addition to pristine amenities in the buildings and the neighborhood.”

Opening this month at 909 Rose will be Melina, a full-service, fine casual Greek restaurant founded by the Cava partners.

The vibrant Pike & Rose neighborhood features a wide range of amenities including:

  • Owner-Developer controlled 24-acre neighborhood with increased cleaning and sanitation protocols compared to downtown environments.
  • Wi-Fi enabled neighborhood, including Rose Park, outdoor cafés and patios.
  • U.S. Green Building Council LEED Gold for Neighborhood Development (LEED ND) as a sustainable, well-connected neighborhood.
  • The Farm at Pike & Rose, is the largest soil-based farm in the mid-Atlantic region at 17,000 square feet, producing fruits and vegetables sold directly to tenants and residents through a Farm Membership Program.
  • More than 20 restaurants, including fine dining and fast casual, in addition to shops, a fitness center, a dog bar, and a weekly Farmer’s Market.

Carl M. Freeman Companies was represented by Brad Wilner and Jake Samperton of CBRE. Prudential Financial, LLC. was represented by Amanda Rosenthal and Peter Politi of JLL. ACA Group was represented byChad Barbiasz, Justin Aronson and Anthony Manginelli of CBRE. Federal Realty’s 909 Rose is represented by Bernie McCarthy and Danny Sheridan of JLL.

About Carl M. Freeman Companies

Carl M. Freeman Companies have been standard-bearers of innovation and excellence in real estate development since 1947. The philosophy that guides us is the sure sense that it will not merely the success of the venture that mater, but the well-being of society itself. Our forward-thinking, laser-focus continues under President and CEO Michelle Freeman, who takes responsibility of carrying the legacy forward very personally Under her guidance, the Freeman ethic, which owner perspectives on the many services we provide: owner representation; value creation; consumer-directed marketing; neighborhood development; and tenant services.

About Prudential Financial
Prudential Financial, Inc. (NYSE: PRU), a financial wellness leader and premier active global investment manager with more than $1.5 trillion in assets under management as of June 30, 2021, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help to make lives better by creating financial opportunity for more people. Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit news.prudential.com 

About ACA Group 

ACA Compliance Group was founded in 2002 by four former SEC regulators and one former state regulator. The founders saw a need for investment advisers to receive expert guidance on existing and new regulations.

Over the years, ACA – now ACA Group – has grown both organically and by acquisition to expand our GRC business and technology solutions. Our services now include GIPS® standards verification, cybersecurity and technology risk, regulatory technology, ESG advisory, AML and financial crimes, financial and regulatory reporting, and Mirabella for establishing EU operations.

About Pike & Rose, a Federal Neighborhood  

Since its opening in 2014, the transit-oriented neighborhood has grown to over 700,000 square feet, including over 50 thoughtfully merchandized retail tenants. The selection of restaurants (including Summer House Santa Monica, Fogo de Chao, &pizza, sweetgreen, and Julii), retailers (including REI, Sephora, L.L.Bean, Sur La Table, and Uniqlo), a state-of-the-art Porsche dealership, and unique entertainment offerings (including iPic Theaters, Pinstripes, Sports & Social, and AMP by Strathmore) have created a one-of-a-kind retail environment. The neighborhood is further enhanced by 99 luxury condominiums and penthouses uniquely positioned above Canopy by Hilton, a 177-key boutique hotel; 300,000 square feet of best-in-class office space with more underway; 765 luxury apartments; and a 17,000-square-foot rooftop farm. As of June 30, 2021, Federal Realty’s total investment at Pike & Rose is approximately $710 million. To learn more, visit www.pikeandrose.com.

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