Federal Realty Tops Out New Maryland Corporate HQ
- Jul 25, 2019
Federal Realty Investment Trust and its development team have topped out 909 Rose, the 11-story, 200,000-square-foot office building at the Pike & Rose neighborhood in North Bethesda, Md. The property will serve as the company’s headquarters when it is completed in 2020. Upon completion of Phase III, the total investment in Pike & Rose will be approximately $700 million.
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Davis Construction is the general contractor. Hickok Cole is the architect for the project and SK&A Structural Engineering is also part of the team. JLL is handling leasing for the Class A multi-tenant asset that will have ground-floor retail as well. In a video message, Federal Realty CEO Don Wood said 909 Rose would be cutting-edge in every way possible and would be the “place where we try new things.”
Federal Realty opened Pike & Rose, a transit-oriented neighborhood in a suburb of Washington, D.C., in 2014. Since then, it has grown to nearly 400,000 square feet and features more than 40 retail, restaurant and entertainment tenants. Retailers include REI, Sephora, H&M, L.L. Bean and Sur La Table. There is a Porsche dealership and several entertainment offerings such as iPic Theaters and Pinstripes.
Pike & Rose currently features about 80,000 square feet of fully leased office space. The neighborhood has nearly 800 luxury apartments and 99 luxury condominiums and penthouses located atop Canopy by Hilton, a 177-key boutique hotel that opened in March 2017.
Connected and accessible
The office project, located at 909 Rose Ave., will have a Wired Silver Certification and will be the most interconnected and cloud-ready office building in the Washington, D.C., metro region, according to Federal Realty. The building has immediate access to interstates 270 and 495 and will be located directly across from the White Flint Metro station. Amenities will include a fitness center, bike storage, rooftop lounge and terrace, multiple meeting areas, a pantry and café/lounge.
Federal Realty owns 104 properties across 24 million square feet. A leader in the ownership, operation and redevelopment of high-quality retail properties in major coastal markets including Washington, D.C., Boston, San Francisco and Los Angeles, the firm is also known for creating urban, mixed-use neighborhoods such as Pike & Rose, Santana Row in San Jose, Calif., and Assembly Row in Somerville, Mass. They combine live, work and play environments that feature shopping and dining offerings.