RETAIL NEWS

CHEVY CHASE, MARYLAND – After months of planning and discussions with the residents of Montgomery Village, shopping center leasing, management, and development company JBG Rosenfeld Retail (JBGR) recently finalized its renovation plans for Montgomery Village Plaza in Gaithersburg, and announced that the popular tenant Starbucks Coffee will open at the center this year.  Starbucks, which currently operates six locations in Gaithersburg, including one at Lakeforest Mall, has signed a lease for 1,800 square feet at the community shopping center in the end-cap space previously occupied by Blockbuster Video.

“We are so pleased to be moving forward with the renovation of Montgomery Village Plaza,” said JBGR Principal Jim Garibaldi, “and appreciate the community’s patience with us as we determined the best course of action for the property.  Now that our renovation plans have been solidified, we are intensifying our leasing efforts at the center to further add value for the residents of Gaithersburg.  We believe that the addition of Starbucks to the merchant mix is a step to that end, and look forward to welcoming them later this year.”

The renovation plans for Montgomery Village Plaza will give the center an updated and more modern look, ultimately reenergizing the shopping center.  Specifically, JBGR plans to complete a full façade renovation, featuring new materials on the storefronts and new signage for the stores, plus s a new color scheme at the center, a new pylon sign, and capital improvements such as repaving of the parking field and new roofing.  JBGR currently is in the permitting process for the renovation, with plans to commence work this summer.

Located at the intersection of Lost Knife and Contour Roads behind Lakeforest Mall, Montgomery Village Plaza is a 113,000 square-foot community shopping center anchored by specialty grocer Trader Joe’s and discount clothier Marshalls. The center, built in 1985, also is home to more than 20 other service and specialty retailers, including Dollar Tree, Jennifer Convertibles, Family Christian Stores, Rent-A-Center, and others.  JBGR acquired Montgomery Village Plaza in 2004.