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STAPLES DEAL FINALIZED FOR FORMER EATZI'S SPACE RETAIL NEWS
CHEVY CHASE, MARYLAND – A prime storefront in Montgomery County, Maryland, will gain new life in early 2009, with the opening of a new, 17,000 square-foot Staples store. Shopping center leasing, management, and development company JBG Rosenfeld Retail (JBGR), which purchased the building at 11503 Rockville Pike in July 2007, recently finalized a long-term deal with the office product company for the space formerly occupied by Dallas-based specialty market Eatzi’s. The new Staples store will be accessible from entrances on both Rockville Pike (MD Route 355) and Nicholson Lane.
“This deal with Staples is a testament to the stability of the retail market on Rockville Pike,” said JBGR Executive Vice President Bob Schwenger. “At a time when many retailers are scaling back their expansion plans and closing underperforming stores, this prime location on one of the county’s busiest thoroughfares speaks for itself. We are pleased to have Staples on board, and are confident they will find success there.” This is the second deal JBGR has inked with Staples in the last 12 months; the company also finalized a lease for a 24,000 square-foot space at Alexandria Commons on Duke Street last summer.
Headquartered in Boston, Staples (Nasdaq: SPLS) is the world’s largest office products company, serving customers in 27 countries throughout North and South America, Europe, Asia, and Australia. The company, which invented the office superstore concept in 1986, boasts $27 billion in sales. For additional information, visit www.staples.com.
Including this property at 11503 Rockville Pike, JBGR and its affiliates own a total of 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. 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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