RETAIL NEWS

CHEVY CHASE, MARYLAND – Shopping center leasing, management, and development company JBG Rosenfeld Retail (JBGR) has, once again, enhanced its portfolio of Montgomery County, Maryland properties with the acquisition of a nearly 21,000 square-foot building located at 11503 Rockville Pike, at the intersection of Route 355 and Nicholson Lane.  The building, which was home to Dallas-based gourmet specialty market Eatzi’s until it closed late last year, also housed a small art gallery that shuttered its doors in May.  JBGR acquired the property in conjunction with its affiliated partner and equity fund, JBG Investment Fund VI, for an undisclosed sum.  The transaction closed July 9.

“This property is an excellent addition to our Montgomery County holdings,” said JBGR Principal Rob Rosenfeld, “occupying a prime location on the county’s busiest thoroughfare.  The state of retail on the Route 355 corridor continues to be strong, making available to us numerous options for the future of this property, which we currently are assessing.”  JBGR purchased the property from the investment partnership 11503 Rockville Pike Limited Partnership, which was represented by Holliday Fenoglio Fowler, LP.

With the acquisition of the former Eatzi’s building, JBGR and its affiliates now own seven properties in Montgomery County, including Rockville’s Pike Center, Twinbrook Square, and Loehmann’s Plaza, as well as Montgomery Village Plaza in Gaithersburg, and North Bethesda Market and Twinbrook Station, both under development.  With the exception of Loehmann’s Plaza, the other existing Montgomery County shopping centers came under JBGR’s ownership within the last two-and-a-half years.  In addition, JBGR handles the leasing activity for 9 other retail sites in the county, for a grand total of nearly 1.2 million square feet of gross leasable area.

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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