Construction is now underway on a new strip retail development in Gaithersburg. Matan Companies announced on April 2 that it has broken ground on a 10,175 SF retail strip at 715 Progress Way, located on a one-acre parcel at the intersection of Montgomery Village Avenue and MD-355. The site already draws significant traffic thanks to nearby national brands like Chick-fil-A and Sheetz.

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Lakeforest Mall’s long-awaited demolition is officially underway, marking a major turning point for one of Montgomery County’s most recognizable retail sites. Demolition of Lakeforest Mall in Gaithersburg began on Wednesday, April 1, 2026, almost exactly three years after the mall permanently closed its doors on March 31, 2023. Video of the start of the demolition is available below.

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