Showing posts with label real estate. Show all posts
Showing posts with label real estate. Show all posts

Wednesday, August 23, 2023

White Flint Mall redevelopment still frozen on Rockville Pike (Photos)


The redevelopment of White Flint Mall is still just a Gordon Gekko-esque dream on Rockville Pike. Property owner Lerner Enterprises has fenced off the site, on which only the Lord & Taylor portion of the mall remains standing, surrounded by its former parking lots. That hasn't stopped vandals from trespassing, as the graffiti and boarded-up windows testify. The vast majority of the mall site remains an overgrown patch of weeds and grass, as nature reclaims what was once Montgomery County's ultimate shopping destination.


There's no news on the Lerner website. White Flint Mall's legacy is such an afterthought for the company, that it has placed a photo of it where one of Landover Mall is meant to be on the site. Quelle horreur! Another summer where the property could have been converted into a drive-in theater has nearly passed into history without a single screening of Star Wars or The Adventures of Buckaroo Banzai Across the 8th Dimension.

An idol has arisen

White Flint Mall still speaks to those who watch and listen for the signs. A god, an idol, has arisen among the former parking stalls of Lord & Taylor. Its head a golden sphere, its arms outstretched in a martyr's T-pose. Yet the arms are uplifted, reassuring us that in some other dimension all is well at White Flint Mall. The Singapore Firecracker Chicken and Mongolian Beef at P.F. Chang's are still better than whatever you're eating tonight in Montgomery County, the glass elevators still go all the way up to The Loft, Carrie is screening four months after its release on the March 7, 1977 grand opening night of The Movies, the mallwalking Soviet ambassador still has all the right toppings on his foot-long hot dog, and it still takes a good hour to thoroughly peruse the magazine racks at Borders.




But back in this dimension, redevelopment plans remain as moribund as Montgomery County itself. The Late Stage Capitalism Express is arriving at the White Flint, er, "North Bethesda" station. "All aboarrrrrrrrd! Next stop: The Dark Side of White Flint."






"This is a very special part of America. The highest part." - H.V. Waldrove of the Netherlands, after touring White Flint Mall in 1978

Tuesday, August 22, 2023

Want to buy Montgomery County's first Wawa store? It'll cost you $8 million


The first Wawa store in Montgomery County hasn't even opened yet, and it's already for sale. Now under construction at 405 S. Frederick Avenue in Gaithersburg, the store could be yours for $7,957,000. Does that include unlimited Gobbler sandwiches? That question would probably rank a distant second to the one on most Wawa fans' minds for the last several years, namely, when is the Gaithersburg Wawa opening? The online sale listing gives us the best clue yet, as it notes that Wawa's lease will commence in November 2023.


Wawa's Gaithersburg NNN ground lease has a primary term of 20 years, with 10% rent increases every 5 years, and six 5-year renewal options, indicating the chain is here in Montgomery County for the long haul. That rent will go to you, if you are the lucky buyer with $8 million burning a hole in your pocket. 


The sale listing goes on to describe the Gaithersburg Wawa's prime location on busy MD 355 across from Gaithersburg High School, and the rarity of a Wawa store in the area. "Currently under construction, this location will be Gaithersburg’s first Wawa store and will serve as Wawa’s long awaited first store along the I-270 corridor outside of Washington, D.C. There are currently no Wawa locations northwest of D.C. along the interstate until the I-270/I-70 interchange in Frederick, MD over 20 miles away."

Wednesday, August 16, 2023

Rockville shopping center redevelopment meeting scheduled for August 23


An in-person public meeting has been scheduled to present the latest redevelopment proposal for the Rockshire Village Center in Rockville. Two sessions will be held on August 23, 2023, from 6:00 PM to 7:15 PM and from 7:30 PM to 8:45 PM, at the Thomas Farm Community Center at 700 Fallsgrove Drive in Rockville. To register for the meeting, fill out the online form. You can also view the presentation materials for the meeting on developer EYA's website.

Rendering courtesy EYA

Monday, August 7, 2023

Biden pushing federal employees back to the office: Does the commercial real estate crisis outweigh the climate crisis?


President Joe Biden will make a more aggressive push for federal workers to return to their offices this fall, Axios reported Friday. It's only the latest decision by the Biden administration that ignores the climate crisis that the President at other times acknowledges is "the existential threat to humanity." The driving force behind demanding that great numbers of federal employees return to in-person work isn't for the public good, but to prop up the falling profits of wealthy private development firms and their Wall Street financial backers. One must ask the question, "Does the commercial real estate crisis outweigh the climate crisis?"

The reduction in downtown leasing and activity is hardly limited to Washington, D.C. But developers here have an advantage office tower owners in other cities don't: The federal government can order all 141,367 of its D.C.-based employees back to in-person work. Yet that singular power is precisely why the Biden administration shouldn't.

A great opportunity to make unprecedented strides toward reducing carbon emissions, pollution and global temperatures emerged during the COVID-19 pandemic. Government and private employers alike were forced to find out who could do their jobs from home, and who couldn't. But Biden declined to seize the low-hanging fruits of this opportunity. 

Imagine if everyone who successfully performed their job from home during the lockdown just kept doing that. The short-lived environmental and highway capacity benefits would have become permanent. Air quality would have improved, and expensive transportation projects could have been canceled. And while it would have been a hard-fought battle for the federal government to mandate private companies continue to allow their employees to work from home, Uncle Sam would have had no barrier or obstacle to mandate that all federal workers working from home continue doing so indefinitely.

Ordering most federal workers to return to the office would put swarms of cars that currently spend most of their time in driveways of homes back onto area roads. Workers returning by transit will have a significant negative impact on the environment, as well. WMATA only anticipates half of its buses will be zero-emission by 2033, and predicts its entire fleet will be zero-emission by 2045. The vast majority of buses still run on diesel and natural gas. This does not even take into account the coal-fired and natural gas electricity plant emissions needed to operate the Metro subway system.

The world just passed through the hottest month on record in July. Scientists and climate activists began using the term "global boiling" to describe what lies ahead for Planet Earth. The D.C. area is intimately aware of the pollution impacts of wildfires, and the extensive damage wreaked by increasingly-powerful storms. On the present course, global temperatures will likely pass the 1.5C global warming threshold sometime in the next four years.

It was only four years ago that the United Nations informed us that we had "only 11 years left to prevent irreversible damage from climate change." Yet Biden eagerly approved the Mountain Valley Pipeline, recently endorsed by the U.S. Supreme Court. His Russia-related energy sanctions and policies restarted coal plants in Europe, and will boost American natural gas output for export to Europe for at least the duration of the war, if not for decades to come. Politicians who had called for higher gas prices for decades to reduce driving fell silent when they finally arrived in 2022. Biden has sold 206 million barrels of oil from the country's reserves to date, to artificially lower the price of gasoline since.

These are not the expected actions of a President who recently said, at a press conference with California Gov. Gavin Newsom, that he has witnessed "the highest sea-level rise in more than a century. I’ve seen wildfire devastation across the West, burning more acres to the ground than are square miles in the state of Maryland. That’s how much got burned to the ground and all the — just flying over, just devastating. There’s been historic tornadoes and flooding in the Midwest and the Southeast. And just last week, across the East Coast and Midwest, we saw what you’ve already seen here in California: millions of Americans sheltered indoors, the air not safe to breathe, orange haze covering the sky. It’s incredible."

One cannot take these actions, and then turn around another day and claim we are in an existential climate crisis that threatens American lives and property. If you had found a way for tens of thousands of federal workers to get their job done without hitting the road twice a day, and you were serious about the climate, you wouldn't consider for a minute ordering those employees back to the office.

Developers are being hit in the pocketbook. Wall Street and the bankers who hold the loans on office towers are taking a WFH hit, too. Downtown traffic to businesses isn't what it was prior to March 2020. None of that warrants yet another federal government bailout to the rich, at the expense of all humanity and nature around the globe. President Biden should resist the pressure he's receiving from wealthy interests to force federal workers back to the office. The President who said "the impacts we’re seeing in climate change are only going to get more frequent and more ferocious and more costly" shouldn't add any more to that cost and ferocity.

Photo courtesy U.S. State Department

Monday, July 31, 2023

Rockville Wegmans opening delayed to 2025 (Photos)


With construction of the Phase 1 building of Twinbrook Quarter rounding into the home stretch at Rockville Pike and Halpine Road, many including me assumed interior fit-out of the Wegmans grocery store in the ground floor would begin before the end of the year, and that the Wegmans would open in 2024. But the Rockville Wegmans is now anticipated to open in 2025. Here's a look at the latest stage of construction at the site:













Wednesday, July 26, 2023

Loehmann's Plaza redevelopment proposed in Rockville


The owner of Loehmann's Plaza at 5926 Randolph Road is proposing a long-term redevelopment of the shopping center property. Rosenfeld Investments, LLC has proposed a first phase of redevelopment that will add 84 townhomes to the property, very similar to what was completed recently at Cabin John Village in Potomac. A future stage would see the entire property redeveloped with nearly 600 more housing units in the form of apartments, as well as 50,000-square-feet of retail and a pedestrian woonerf street designed to be shared by pedestrians, vehicles and cyclists.
Existing shopping center

Proposed Phase 1 redevelopment with
townhomes at left and right


Historic Holiday Inn reopens in Gaithersburg


The historic Holiday Inn Gaithersburg hotel that once welcomed Elvis Presley, Rock Hudson, Sonny and Cher, and Liberace is now once again welcoming guests. Located at 2 Montgomery Village Avenue right off of I-270, the hotel closed during the pandemic in 2020. After years of troubling rumors about the fate of the property, there was wonderful news from owner B.F. Saul on Monday that the hotel has been updated and reopened to the traveling public. 


A hotel that once gained national attention for its $1400-a-night Presidential Suite, the Holiday Inn Gaithersburg is back with 160 guest rooms of multiple configurations. All 160 rooms feature expanded workspaces, pillow-top mattresses, 50” flat screen TVs, in-room mini fridges and microwaves, and an array of complimentary Dove bath products. All rooms are available to book now with rates starting at $119 per night.


Longtime residents will remember this Holiday Inn, like many of the chain's hotels in decades past, was a popular dining destination in Montgomery County. The reopened hotel is striving to meet that standard again with its full-service restaurant, Harvest Plates & Pints. Operating hours will be 6:30 AM to 11:00 AM for breakfast, and 4:00 PM to 10:30 PM for dinner. Weekend brunchers will not want to miss the IHG breakfast buffet at the restaurant.

Event planning is also back in full swing at the hotel. Reopened are eight event rooms with 8,000 sq ft of flexible space, including a 350-person ballroom and the hotel’s renowned Washingtonian Room. Catering and banquet spaces have been fully restored for social or corporate functions. Support for business guests is rounded out by hotel-wide free high speed WiFi, and a 24-hour business center. There is also a 24-hour gift shop where guests can purchase packaged snacks, beverages and sundries.

“We are proud and excited that this iconic hotel will again serve the residents, visitors, and businesses of Gaithersburg and Montgomery County," B.F. Saul Company Hospitality Group President Mark Carrier said in a statement. "Welcome!” Reservations can be made online, or by calling 301.948.8900. 

Photos courtesy Holiday Inn Gaithersburg

Saturday, July 22, 2023

Montgomery County condo prices surge 9.7%


Montgomery County condominium prices surged 9.7% from May to June, Axios D.C. reported this morning. Since taking a majority of the seats on the Montgomery County Council in 2002 with the End Gridlock slate, the Montgomery County cartel has assured us that building more housing units will lower prices. Yet, after building thousands and thousands of new units since then, lower rents and housing prices continue to elude Montgomery County homebuyers. 


Condo prices have gotten so exorbitant in condo-construction-crazy Washington, D.C., Axios D.C. reported, that units there are now sitting long on the market because only a small segment of buyers can afford them. It will be interesting to see if the increasing value of condos will spur builders to convert any of their future planned developments from rental apartments to condos. We saw a lot of quick flipping back and forth in the construction years right after the "Great Recession," in places like downtown Bethesda. For example, just during its construction phase alone, the 7770 Norfolk development went from rental to condos and then back to rental apartments.

Thursday, July 20, 2023

New Rockville townhome community draws inspiration from adjacent historic farm


One of the last remaining vestiges of Rockville's agricultural history is inspiring a future townhome community beginning construction next door. Developer EYA has decided on Farmstead District as the branding for the new community, which will rise on the former site of King Buick GMC at 16200 Frederick Road. A logo for the development somewhat resembles rows of crops as seen from above. Promotional banners for the Farmstead District have been placed on construction fencing around the site.

One can still see original farm buildings at the public King Farm Farmstead park at 16100 Frederick Road. The King dealership has just been demolished, and the property has been annexed into the City of Rockville.

EYA is playing up the farm theme with the tagline "A fresh take on the modern neighborhood." W. Lawson King acquired the farm in 1925, local historical preservation group Peerless Rockville says. He added surrounding farmland to create the 403-acre Irvington Farm, which at one point boasted the largest population of Holstein cows in the world, Miriam Bunow wrote for Peerless. Irvington was a milk supplier for Thompson's Dairy, a household name in the D.C. area for older generations. The heritage of the site will now be shared by Farmstead District residents and their neighbors at the King Farm development.

Friday, July 7, 2023

Rockville church could be replaced with townhomes


A Rockville church could be demolished to make way for 38 "two-over-two" townhome-style condominums, if approved by the Rockville Planning Commission and Mayor and Council. Developer Pulte has proposed the project for the Twinbrook Community Church property at 5906 Halpine Road. The 65,580-square-foot property currently holds a church building and a daycare center. 


Pulte says that the church is going to vacate and sell the property to them because of declining attendance at worship services, and "economic forces." It is seeking to rezone the R-60 property to RMD-15 or MXD, under the Rockville 2040 master plan recommendations. A preliminary traffic study shows that the townhomes will generate 45 fewer morning automobile trips, and 40 fewer evening trips, than the current church and daycare.


The existing church architecture is quite nice, and the new use will certainly change the character of that corner, which is directly across from single-family homes. However, the church property is on other sides surrounded by multifamily developments: Kanso Twinbrook, The Alaire, and Cambridge Walk. It is less than 1000 feet from the Twinbrook Metro station. The Rockville Development Review Committee will review Pulte's application at its July 26, 2023 meeting, and the Planning Commission will hold a public hearing on the project at a future date to be scheduled.

Friday, June 30, 2023

Rockville Arby's building fenced off (Photos)


Construction fencing has been erected around the vacant Arby's restaurant at 11710 Rockville Pike. No new tenant has been announced, and the building is still being marketed for lease. Maryland property records do not show a sale of the property as of this morning. 


A Shake Shack restaurant had been proposed for the building, but those plans were, sadly, withdrawn. That was a huge mistake by the burger chain. They would have done massive business here, especially in drive-thru sales. If I was an investor in Shake Shack, I would be screaming. At least Tom Bodett left the light on for us in the kitchen. Hopefully a smart fast food chain like Jack in the Box or In-N-Out leases this building soon.






Thursday, June 29, 2023

Rockville Wegmans construction update (Photos)


Brick work is being added to the facade at the future Twinbrook Quarter development at Rockville Pike (MD 355) and Halpine Road. The first phase of the B.F. Saul development will include Wegmans as the retail anchor tenant. You'll notice that the color of the brick on each segment of the facade changes. One section is tan, and the next is a more traditional red. Brick facade installation will continue through the fall.


Inside the building, walls are being constructed for hallways and apartment interior rooms. Plumbing, duct work and electrical wiring are also being installed. Outside, underground utilities are still going into place, and new sidewalks, pedestrian ramps and traffic signals are being installed at the intersection of Halpine and Chapman Avenue.