Construction commenced at Progress Labs at 700 N. Frederick Avenue in Gaithersburg, MD back in October. Progress Labs is a two-building approximately 495,000 SF development situated on 44 acres with prime I-270 visibility and access off of exit 11 Montgomery Village Avenue.
Included in the construction will be a new Chick Fil A location that we reported on back in October. The two main buildings included, seen in the image below, will total 495,000 sf.
Building 1: 247,500 SF
Building 2: 247,500 SF
TOTAL: 495,000 SF
Commence Construction: 10/2021
Building 1 Early TI Start: 11/2022
Building 2 Early TI Start: 2/2023
Building 1 Base Building Substantial Completion: 1/2023
Building 2 Base Building Substantial Completion: 4/2023
This will bring even more traffic into an already over congested area.
Great news all around; this will bring sorely needed jobs to Upcounty. Will this bring increased congestion to MV? Sure. But are local residents in Bethesda, certain parts of Rockville, Silver Spring or Tysons Corner fully complaining? Not really, because they recognize local jobs only have upsides to said areas: corporate tax revenue, spillover business demand (restaurants, gas stations, etc.) Heck, I’d love to see traffic backups on 270 NORTH in the MORNING towards exit 11. Here’s to 100% tenant capacity by completion. Best of luck, Progress Labs!