Maryland

Lakeforest-Mall_Gaithersburg
DevelopmentMarylandMixed-useNews

WRS Breaks Ground on $1.2 Billion Redevelopment of Lakeforest Mall in Metro D.C.

by Abby Cox

Gaithersburg, Md. — WRS Inc., a retail and mixed-use development firm based in Charleston, S.C., has broken ground on the $1.2 billion redevelopment of Lakeforest Mall, a 102-acre shopping mall in Gaithersburg that shuttered in 2023. Situated in the northern arch of the Washington, D.C., suburbs, the multi-phase project will transform 1.1 million square feet of obsolete retail space and parking lots into a walkable “mini-city” that will be master-planned on a grid of walkable streets and public amenities. “This is more than just a construction project; it is the rebirth …

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gaithersburg-retail-strip-center
DevelopmentMarylandNews

Matan Cos. Breaks Ground on 10,175-Square-Foot Retail Strip Center in Metro Washington, D.C.

by Abby Cox

Gaithersburg, Md. — Matan Cos. has broken ground on a 10,175-square-foot retail strip center in Gaithersburg, approximately 15 miles northwest of Washington, D.C. Situated on a 1-acre parcel at 715 Progress Way, the new retail center is part of a larger commercial development that includes nearby Chick-fil-A and Sheetz locations. Positioned behind the retail development are two 198,000-square-foot office and industrial buildings, also developed by Matan Cos., which are currently fully leased. Tenants include AstraZeneca, Montgomery County Public Schools (MCPS) and Daikin Comfort Technologies Distribution Inc. In addition to the new …

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Annapolis-Mall
LeasingMarylandNews

Atlas Hill, Centennial Sign Four New Tenants and Expand Lululemon at Annapolis Mall

by Abby Cox

Annapolis, Md. — Atlas Hill RE and Centennial have signed five new tenants at Annapolis Mall, a 1.6 million-square-foot super-regional shopping center located in Annapolis. Aéropostale is scheduled to open in June and POP MART plans to open this fall. Abercrombie & Fitch will open its doors in November, while beauty and lifestyle retailer Miss A will debut one of its first 100 stores in the country this year. Existing tenant lululemon is nearly doubling its size, relocating to a new 5,575-square-foot space in 2027. Atlas Hill RE owns and leases Annapolis …

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Reisterstown-Shopping-Center
Company newsGrocery-anchoredMarylandNews

Rappaport to Manage Reisterstown Shopping Center in Metro Baltimore

by Abby Cox

Reisterstown, Md. — McLean, Virginia-based Rappaport has been selected to provide leasing and management for Reisterstown Shopping Center, a 160,000-square-foot, grocery-anchored retail center located in Reisterstown, approximately 25 miles north of Baltimore. As part of the assignment, Rappaport will oversee $2 million in property upgrades. Built in 1964, Reisterstown Shopping Center is anchored by a 29,000-square-foot Lidl grocery store and a recently opened 33,000-square-foot Lowe’s Outlet. The center features a mix of additional tenants such as Starbucks Coffee, Chipotle Mexican Grill, Jersey Mike’s, Quickway Japanese Hibachi and Planet Fitness. Reisterstown …

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Linthicum-Heights-retail-rendering
DevelopmentLeasingMarylandNews

SRS Real Estate Completes Lease-Up of 10,576-Square-Foot Retail Development in Metro Baltimore

by Abby Cox

Linthicum Heights, Md. — SRS Real Estate Partners has completed leasing for a newly developed, 10,576-square-foot retail development in Linthicum Heights, just south of Baltimore and adjacent to the Baltimore-Washington International Thurgood Marshall Airport (BWI). Situated at 1709-1713 W. Nursery Road, the retail center is home to Paris Baguette, Buffalo Wild Wings GO, Sardi’s Peruvian Chicken, Tropical Smoothie Café and Jersey Mike’s Subs. Arris Noble and Rachel Callender of SRS Real Estate Partners represented the landlord, a Washington, D.C.-based private investor and developer, in the lease negotiations.

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Grocery-anchoredInvestment salesMarylandNews

Federal Realty Acquires Congressional North Shopping Center in Maryland for $72.3 Million

by Abby Cox

Rockville, Md. — Federal Realty Investment Trust (FRT) has acquired Congressional North Shopping Center, a 176,000-square-foot shopping center in Rockville, approximately 12 miles northwest of Washington, D.C., for $72.3 million. Aldi anchors the center, which spans 12 acres. Additional tenants include RH Outlet, Petco and Staples. FRT also owns Congressional Plaza, Federal Plaza, Montrose Crossing and Pike & Rose in Montgomery County, Maryland, among other properties.

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Viva-White-Oak
DevelopmentGrocery-anchoredMarylandMixed-useNews

MCB Signs Costco to Anchor $2.8 Billion Viva White Oak Mixed-Use Development in Metro D.C.

by Abby Cox

Silver Spring, Md. — MCB Real Estate has signed Costco Wholesale to anchor Viva White Oak, a $2.8 billion mixed-use development in Maryland’s Montgomery County. Situated roughly 12 miles northeast of Washington, D.C., Viva White Oak will span 280 acres near the headquarters of the U.S. Food and Drug Administration (FDA) and the Adventist HealthCare White Oak Medical Center in Silver Spring. The 162,000-square-foot store will be the fourth Costco within a 10-mile radius of Viva White Oak, according to MCB. Viva White Oak is approved for more than 12 …

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Outlets Ocean City
Investment salesMarylandNews

SVN | Miller Negotiates Sale of 21 Acres at Outlets Ocean City in Coastal Maryland

by Abby Cox

Ocean City, Md. — The McClellan Team at SVN | Miller Commercial Real Estate has negotiated the sale of 21 acres of land underlying Outlets Ocean City, a 200,000-square-foot outlet mall in Ocean City. The outlet mall is subject to a long-term ground lease with leasehold improvements by the new ownership. The Elliott Family sold the land to the undisclosed buyer. The new ownership group has tapped the McClellan Team and Ryan Finnegan of SVN | Miller to lease Outlets Ocean City, which has six units available for lease. According …

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6000-Allentown-Andrews-Dr
Investment salesMarylandNews

Marcus & Millichap Negotiates $9.9 Million Sale of Retail Strip Center Near Washington, D.C.

by Abby Cox

Camp Springs, Md. — Marcus & Millichap has negotiated the $9.9 million sale Andrews Park Town Center, a 13,417-square-foot retail strip center located at 6000 – 6101 Allentown Andrews Drive in Camp Springs, approximately 12 miles southeast of downtown Washington, D.C. Dean Zang and David Crotts of Marcus & Millichap marketed the property on behalf of the seller, an affiliate of ARCTRUST, and procured the private buyers, in the transaction. Built in 2021 on 1.2 acres, Andrews Park Town Center was fully leased at the time of sale to three …

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bowie-town-center
Investment salesMarylandNews

CBRE Negotiates Sale of 293,099-Square-Foot Bowie Town Center in Maryland

by Abby Cox

Bowie, Md. — CBRE has negotiated the sale of Bowie Town Center, a 293,099-square-foot lifestyle center in Prince George County, Maryland, bordering the eastern portion of Washington, D.C. A partnership between Nile Equity Group and Community Real Estate Co. purchased the property for an undisclosed price. Ryan Sciullo, Chris Munley, Colin Behr, Casey Smith and RJ Mirabile of CBRE’s National Retail Partners Mid-Atlantic represented the seller in the transaction. Bowie Town Center was 86 percent leased at the time of sale to tenants including Bath & Body Works, Barnes & Noble, …

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