The Mayor and City Council and Planning Commission conducted a Joint Public Hearing on the redevelopment of Lakeforest Mall on June 17, 2024. Video of the meeting can be found here (includes WRS presentation). Joint work sessions and final action meetings have been set. Additional renderings available below, courtesy of WRS, Inc.
MCB Real Estate, a commercial real estate investment management firm with nationwide holdings, announced on Monday that it has purchased Takoma Park Shopping Center, located at 8750 Arliss St. in Takoma Park, MD. MCB acquired the property from an undisclosed private seller, represented by JLL.
Trustar Bank has announced the recent purchase of 7901 Norfolk Avenue and its plans to open a new office in Bethesda, Maryland this fall, subject to regulatory approval. The building was the longtime home of Corner Slice, which closed earlier this year.
Last October we let you know that a 5,600 SF retail building at 26437 Ridge Rd. in Damascus was sold to a partnership headed by Alexandria, VA-based Harmon Capital Group for $1.14 million. The building has been sold again, this time for $1.3 million less than a year later.
Avison Young recently announced the closing (sale) of Doctors Medical Park, a three-building outpatient clinical park on behalf of the seller, Medical Center Associates, LLLP. The 90,076-square-foot (sf) property was acquired for $15,250,000 by an affiliate of Blue Arch Capital. The clinical park includes 10301 Georgia Avenue, 2101 Medical Park Drive and 2121 Medical Park Center in Silver Spring.
Sodexo recently moved its U.S. headquarters to 915 Meeting Street, a new 276,000-square-foot trophy office building that recently opened in North Bethesda’s Pike & Rose development. Sodexo’s headquarters were previously located at 9801 Washingtonian Blvd in Gaithersburg (next to Rio Lakefront) where Prime US REIT signed Immunocore as the first tenant that will take part of the space vacated by Sodexo. Now, an $800K permit has been pulled to begin improvements at the space.
The City of Gaithersburg has received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA) for the 46th consecutive year.
Updated renderings here.
WRS, Inc. submitted a Schematic Development Plan application SDP-9736-2024 proposing to redevelop the existing Lakeforest Mall property with 1,600 residential units, 750,000 square feet of employment uses, 250,000 square feet of large format retail, and 220,000 square feet of commercial uses. A Joint Public Hearing with the Mayor and City Council and Planning Commission has been scheduled for Monday, June 17, 2024 at 7:30 P.M. The joint public hearing will be held in the City Council Chambers at 31 South Summit Avenue.
Bearded Goat Barber is coming soon to 720 Center Point Way in Gaithersburg’s Kentlands neighborhood. The barbershop is taking over the space that was home to Sport Clips from April […]
On a rainy Wednesday afternoon, May 29, a few members of the Scotland AME Zion Church accepted a special invitation to stop by their busy construction site on Seven Locks Road for a visit.