CHEVY CHASE, MARYLAND – Shopping center leasing, management, and development company  JBG Rosenfeld Retail (JBGR) recently finalized a lease with Jared the Galleria of Jewelry for a 6,000 square-foot pad building to be constructed at its Pike Center Shopping Center in Rockville, Maryland.  The new store, which will front Rockville Pike (MD Route 355), will be the first for the Jared brand in Montgomery County, Maryland.  Pending all approvals and building permits, JBGR anticipates commencing construction of the pad building in early 2009, with Jared scheduled to open in late 2009.  Jared was represented by Les Sax of Sax Realty in Bethesda, Maryland.

 

“The healthy state of retail on Rockville Pike is the silver lining for retailers in the metropolitan Washington, DC area,” said JBGR Executive Vice President Bob Schwenger. “Tenants continue to seek real estate in this corridor because of its retail prominence, and Jared’s commitment to Pike Center is a case in point.  We are pleased that they have selected our property for their first location in Montgomery County.”  This is the second deal JBGR has finalized for prime space on Rockville Pike in recent weeks; the company just announced a 17,000 square-foot lease with Staples at the site of the former Eatzi’s Bakery and Market approximately one mile away.

 

Jared the Galleria of Jewelry is a division of Sterling Jewelers Inc., headquartered in Akron, Ohio. Together with their parent company, Signet Jewelers Limited, Jared is the largest specialty retail jeweler in the world. Currently, there are five Jared stores in the metropolitan Washington area, including Tysons Corner, Dulles, Fairfax, Waldorf, and Annapolis. For additional information, visit www.jared.com.

 

Acquired by JBGR in October 2006, Pike Center Shopping Center is a 74,000 square-foot community shopping center anchored by Office Depot, TGI Fridays, and CiCi’s Pizza.  The center, originally built in 1964, fronts Rockville Pike, but also is accessible via Bou Avenue.  With Pike Center, JBGR and its affiliates own a total of seven properties in Montgomery County, including 11503 Rockville Pike, Twinbrook Square, and Loehmann’s Plaza, as well as Montgomery Village Plaza in Gaithersburg, and North Bethesda Market and Twinbrook Station, both under development.  In addition, JBGR handles the leasing activity for six other retail sites in the county, for a grand total of nearly 1.4 million square feet of gross leasable area.

 

 

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