RETAIL NEWS

CHEVY CHASE, MARYLAND – With construction of the new, 73,000 square-foot Giant Food at Free State Shopping Center nearly complete, the owner of the retail property, JBG Rosenfeld Retail (JBGR), announced today that it has finalized leases with two national tenants to take over the 49,000 square-foot space to be vacated by Giant upon the opening of its new store this fall.  Ross, the nation’s second largest off-price apparel and home furnishings retailer, and Office Depot recently committed to 30,000 and 18,700 square-foot spaces, respectively, at the 34-year-old center, the first store for each concept in Bowie.

“When we began the redevelopment of Free State in 2003, our core objective was to reaffirm the center’s place as the dominant, grocery-anchored community shopping center in north Bowie,” said JBGR Principal Jim Garibaldi.  “With all of the structural changes that have been made to date, and now Ross and Office Depot committing to the property, we continue to advance toward realizing that objective. We are very excited about the impact the redevelopment will have on enhancing the customer experience at Free State.”  Both Ross and Office Depot are slated to open during late spring 2007.

Headquartered in Pleasanton, California, Ross Stores, Inc. is a Fortune 500 and Nasdaq 100 company with more than 700 stores in 26 states and Guam. The company has made a name for itself by offering first-quality, in-season, name brand and designer apparel, accessories, footwear and home fashions at everyday savings of 20-to 60-percent off department and specialty store prices. The Free State Shopping Center store will be the 16^th for the company in Maryland.

Founded in 1986 and boasting annual sales of over $14 billion, Office Depot provides more office products and services to more customers in more countries than any other company. Based in Delray Beach, Florida, the company employs more than 47,000 people worldwide in its retail stores, catalog, contract delivery and e-commerce operations. The Office Depot store at Free State will be located next to the Goodyear Tire Center.

Built in 1972, and previously renovated in 1995, Free State Shopping Center currently is in its final phase of redevelopment.  In addition to the demolition of portions of the center once occupied by a mini­mall, the redevelopment includes the new, state-of-the-art Giant Food store, construction of a new, 9,500 square-foot, multi-tenant pad building, plus façade upgrades, improved access and parking, and the addition of a small park and fountain setting facing Annapolis Road.  Discount mattress retailer Rockaway Bedding was the first tenant to open in the pad building last month, followed by ice cream concept Cold Stone Creamery scheduled to open in late August, and Italian restaurant Dolce Pomodoro in late fall.  Other retailers at the 281,000 square-foot center include Tuesday Morning, Blockbuster Video, AMF Bowling Center, Grace’s Fortune Restaurant, Sakura Japanese Steakhouse, Starbucks Coffee, Chevy Chase Bank, Goodyear Tire, and numerous other service providers.

Based in Chevy Chase, Maryland, JBG Rosenfeld Retail specializes in the leasing, development, acquisition, construction, and management of retail properties throughout the mid-Atlantic region.  Currently, JBGR holds more than 30 shopping centers, nine freestanding store sites, and numerous mixed-use retail sites in its portfolio.  For more information on the full scope of the company’s services, call (301) 657-0700, or visit www.jbgr.com.

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