Real Estate & Hospitality

Another Business is Leaving Rockville Town Center for Pike and Rose

MBS Staff
915 Meeting Street at Pike and Rose.

The success of Pike and Rose has garnered the attention of businesses from across the region. The Federal Realty (NYSE: FRT) mixed-use project has been successful in luring some big-name tenants, including Bank of America Merrill Lynch and even Federal Realty’s own headquarters.

One of the largest moves was announced recently when Choice Hotels International (NYSE:CHH) said it would move its headquarters from Rockville Town Center to Pike and Rose and take 105,000 square feet in yet-to-be-built office building called 915 Meeting Street.

According to a report from the Commercial Observer, real estate developer Carl M. Freeman Companies will also move its headquarters from Foulger Pratt-owned Rockville Metro Plaza — part of the Rockville Town Center — to take 9,781 square feet in the recently completed 909 Rose office building. Freeman will take the 10th floor of the building in 2023.

The report also noted other businesses from around the County will be relocating to the project, including ACA Group, which is currently located in downtown Silver Spring. The firm will occupy 8,739 square feet on the ninth floor of 909 Rose.

With 909 Rose over 90 percent leased and 915 Meeting Street almost halfway pre-leased, Federal Realty has shifted focus towards more office space versus residential construction. Montgomery County’s biotech growth has sparked demand for more office/lab space throughout the County, giving way to a fourth office project at Pike and Rose which will be called 935 Prose. The building would replace a planned residential building, a rarity for the County, and it be specially built for life science tenants.

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