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Federal Realty Lands Tenant For Top Floor Of New Pike & Rose Office Building

United Solutions signed a lease for 20,602 square feet on the entire 11th floor of the 909 Rose office building at Pike & Rose. This new lease leaves 909 Rose with only one-third of the space left to lease.

Currently based at 51 Monroe St. in downtown Rockville, United Solutions focuses on a variety of technological products involving blockchain, artificial intelligence and automation. 

“Our success has enabled us to expand our reach, and subsequently, expand our workforce,” United Solutions CEO David Nguyen said in a release. “We look forward to growing in a state-of-the-art space and amenity rich neighborhood that will enhance employee morale, recruiting and engagement.”  

Federal Realty Signs Tech Innovator United Solutions to North Bethesda Office

909 Rose Avenue

909 ROSE AVENUE PHOTO: BY FEDERAL REALTY INVESTMENT TRUST

From Commercial Observer

Tech company United Solutions has signed a 20,602-square-foot lease to take the top floor at 909 Rose Avenue, a 212,000-square-foot office building in the Pike & Rose neighborhood of North Bethesda, Md., with landlord Federal Realty Investment Trust

Rockville, Md.-based United Solutions, which offers technological products involving blockchain, artificial intelligence and automation, plans to move into the building this winter.

“We are grateful for the opportunities we have had with our federal government partners and organizations around the world, to help them realize the power of cutting edge technologies to reinvent businesses and protect workforces,” David Nguyen, United Solutions’ founder and CEO, said in a release. “Our success has enabled us to expand our reach, and subsequently, expand our workforce. We look forward to growing in a state-of-the-art space and amenity rich neighborhood that will enhance employee morale, recruiting and engagement.” 

Federal Realty opened the 11-story, LEED Gold-certified office building last summer, and moved its own headquarters into the second and third floors. Earlier this year, workplace provider Industrious signed a 42,768-square-foot lease in the same building. OneDigital is also currently in the building, which is now two-thirds leased.

The building features contactless entry throughout the parking garage, lobby and elevators, and an HVAC system that meets enhanced health and safety standards. It also offers outside air filtered to levels appropriate for general surgery rooms.

“Federal is committed to getting people back to work safely, in dynamic buildings with advanced health and wellness attributes, such as 909 Rose,” James Milam, Federal Realty’s senior vice president, said. 

909 Rose is part of the 24-acre, transit-oriented Pike & Rose neighborhood that Federal Realty is developing. It includes a residential component as well as dining and entertainment options. 

Pike & Rose Showcases Federal Realty’s Sustainability Credentials

Here are some highlights from yesterday’s long article full of accolades and insights on Pike & Rose in Reit Magazine:

The completion this summer of 909 Rose, Federal Realty Investment Trust’(NYSE: FRT) latest addition to its transit-oriented Pike & Rose mixed-use development, highlights the REIT’s long-term sustainability track record and its commitment to creating communities that are aligned with the evolving needs of tenants and residents.

Situated in North Bethesda, Maryland, six miles north of Washington, D.C. and two blocks from a Red Line metro station, Pike & Rose achieved LEED for Neighborhood Development (LEED ND) v2009 Stage 3 Gold certification in late 2018—the first REIT-owned and developed project to receive the designation. The U.S. Green Building Council’s LEED ND was created to inspire and help create better, more sustainable, well-connected neighborhoods.

Federal Realty, which has long called Montgomery County, Maryland home, became the class-A office building’s first occupants, as it sought to unite its corporate teams under one roof. The move to 909 Rose places Federal Realty at the center of Pike & Rose’s thriving sustainability-focused community, a decade in the making.

Jay Brinson, vice president of development at Federal Realty, says 909 Rose is well suited to meet the new demands for offices in the wake of the COVID-19 pandemic, “with progressive healthy building systems and a convenient location for firms looking to exit more dense urban environments or open satellite office locations to capitalize on the expected shift occurring in millennial housing trends.”

Completing Pike & Rose with commercial office buildings solidifies its place as a 24/7 community, adds Mickey Papillon, vice president and regional general manager at Federal Realty. He expects 909 Rose to catalyze construction of hundreds of thousands of additional square footage of office space at Pike & Rose during the next decade, as demand increases. “From first thing in the morning when people grab coffee to their last drink of the night, our customers are using the neighborhood as their campus with an amenity base never before seen in the community,” Papillon says. “There is an incredible amount of pride and ownership for our team to move to a 24-acre project that their company created, designed, and developed over the past decade,” says Papillon.


Federal Realty aimed for a smooth transition between the popular Mid-Pike Plaza and the new Pike & Rose, without cutting off the local income stream before a full-fledged replacement was ready.

“Federal implemented a detailed process by first closing half the center, walling it off and building the first phase of Pike & Rose, and once complete, closing, demolishing, and rebuilding the other half,” explains James Milam, Federal Realty’s senior vice president of regional finance & portfolio manager.

The REIT completed its master plan in 2012 and opened its first phase in 2014. Pike & Rose now comprises 379,000 square feet of retail, 864 apartments and condominium units, a 177-key hotel, and nearly 300,000 square feet of class-A office buildings.

“Federal Realty is an incredibly important private partner in the county’s effort at building mixed-use, transit-oriented communities in order to meet our economic development, climate, and quality of life goals,” Friedson says. “The reality is that the public sector alone cannot create a Pike & Rose,” he adds.


The Pike & Rose neighborhood features advanced stormwater management that starts at the top, with green roofs on the majority of its buildings, complemented with silva cells underneath the sidewalks to handle runoff. The solar panels on top of the garage generate most of the power for the structure, and there is a massive electric vehicle charging infrastructure.

“The LEED Neighborhood Development certification is rarely seen at other REIT investment projects, and there are only a few dozen in the world,” Papillon says, in reference to garnering the sustainable design distinction.

Specific to Pike & Rose are solar installations, native and sustainable landscaping, bike sharing, electric vehicle stations, and access to multi-modal transportation. Another unique feature—one of the largest rooftop farms in the Mid-Atlantic region. The Farm at Pike & Rose premiered in 2018 and provides 17,000 square-feet of green space and garden area adjacent to one of Pike & Rose’s residential buildings. The Farm cultivates a variety of crops to sell to residents and the community.

“All of these elements reflect what our community and our customers are looking for and help not only from an environmental standpoint but demonstrate that we care about the community where we live and work every day,” Papillon says.

Pike & Rose’s focus on sustainability has also inspired additional efforts in the surrounding community. “There’s no question it has helped our ambitious sustainability goals by allowing more people to live and work near major transit,” Friedson observes. “It’s also led us to invest in ‘complete streets’ —bicycle lanes and sidewalks that are wide, safe and attractive, and roads where the priority is safety over vehicle throughput,” he adds.


The Pike & Rose neighborhood features advanced stormwater management that starts at the top, with green roofs on the majority of its buildings, complemented with silva cells underneath the sidewalks to handle runoff. The solar panels on top of the garage generate most of the power for the structure, and there is a massive electric vehicle charging infrastructure.

“The LEED Neighborhood Development certification is rarely seen at other REIT investment projects, and there are only a few dozen in the world,” Papillon says, in reference to garnering the sustainable design distinction.

Specific to Pike & Rose are solar installations, native and sustainable landscaping, bike sharing, electric vehicle stations, and access to multi-modal transportation. Another unique feature—one of the largest rooftop farms in the Mid-Atlantic region. The Farm at Pike & Rose premiered in 2018 and provides 17,000 square-feet of green space and garden area adjacent to one of Pike & Rose’s residential buildings. The Farm cultivates a variety of crops to sell to residents and the community.

“All of these elements reflect what our community and our customers are looking for and help not only from an environmental standpoint but demonstrate that we care about the community where we live and work every day,” Papillon says.

Pike & Rose’s focus on sustainability has also inspired additional efforts in the surrounding community. “There’s no question it has helped our ambitious sustainability goals by allowing more people to live and work near major transit,” Friedson observes. “It’s also led us to invest in ‘complete streets’ —bicycle lanes and sidewalks that are wide, safe and attractive, and roads where the priority is safety over vehicle throughput,” he adds.

Read the rest of the wonderful article here.

Federal Realty Lands First Tenant In Office Building At Pike & Rose

From Bisnow Washington, D.C.

One year after committing to move its own headquarters to its spec office building at Pike & Rose, Federal Realty has landed the project’s first tenant.  FRIT announced Thursday it signed a 16,245 SF lease with OneDigital at the 909 Rose office building in North Bethesda. The advisory firm will consolidate from two locations in Chevy Chase and Downtown Bethesda, and plans to move in the fall.  The developer broke ground on the 11-story, 212K SF office building with ground-floor retail in 2018 with no pre-leases.

JLL is managing the project’s leasing.  Federal Realty CEO Don Wood told Bisnow in June 2019 the REIT planned to move its own headquarters to a 40K SF space in the building. It expects to complete the project by the end of this month, and Federal Realty plans to move in August, a spokesperson said. 

As it looks to fill the remainder of the building, Federal Realty is highlighting a series of features that it hopes will appeal to health-conscious tenants as the coronavirus forces a rethinking of the office environment. The features include contactless entry in the garage and building, a touchless elevator system and a dedicated outdoor air ventilation system that it says will create 30% more fresh air than required by code. It also boasts that it has a higher parking ratio than Downtown Bethesda and D.C., with three spaces per 1K SF, as tenants may shy away from public transit.  “We believe 909 Rose is perfectly suited to meet the new demands for offices, with progressively healthy building systems and a convenient location for firms looking to exit more dense urban environments or open satellite office locations to capitalize on the expected shift occurring in millennial housing trends,” Federal Realty Vice President of Development Jay Brinson said in a release.

The office building is part of the 24-acre Pike & Rose mixed-use development at the intersection of Rockville Pike and Montrose Parkway, near the White Flint Metro station. The project features 765 apartments, 99 condos, a 177-room hotel, 80K SF of office space and over 40 retailers.

Federal Realty to Move Headquarters to Pike and Rose

Federal Realty announced that it has topped out at 909 Rose in North Bethesda’s Pike & Rose neighborhood. The 200,000-square-foot Class A office building will include Federal’s new headquarters. 

“Federal is proud to work with DAVIS Construction for the first time. With more than 100 years of combined history in Montgomery County, it has been great to partner on a project that will bring an additional 1,000 office employees to the Pike & Rose neighborhood each workday,” said Jay Brinson, Director of Development, Federal Realty.

“The topping out of 909 Rose is a testament to the full team effort that contributed to this project,” said Tyler Moyer of DAVIS Construction. “There was a great deal of rain at the start and we thought we might fall behind schedule. However, we prevailed to meet the project timeline thanks to Miller & Long who stepped up to the plate and got it done.”

909 Rose is a new, mixed-use, 200,000-square-foot Class A office building with ground floor retail. The building includes a dedicated office lobby with shared amenity spaces including a fitness center with full service locker rooms, bike storage, and a rooftop lounge and terrace. With a Wired Silver Certification, 909 Rose is the most interconnected and cloud-ready office building in the Washington Metro region.

Offering a Federal Realty planned and managed neighborhood, 909 Rose is easily accessible from all major highways and public transportation (one block to Metro’s Red Line), and has abundant on-site parking.

Since its opening in 2014, the transit-oriented neighborhood has grown to 391,000 square feet, including over 40 tenants of thoughtfully merchandized retail space. The selection of restaurants (including Summer House Santa Monica, Fogo de Chao, &pizza, Baked Bear and Julii), retailers (including REI, Sephora, H&M, L.L.Bean and Sur La Table), a state-of-the-art Porsche dealership, and unique entertainment offerings (iPic Theaters, Pinstripes and AMP by Strathmore) have created a one-of-a-kind retail environment. The neighborhood is fully enhanced by the offerings of 99 luxury condominiums and penthouses uniquely positioned above Canopy by Hilton, a 177-key boutique hotel; 80,000 square feet of fully leased best-in-class office space; 765 luxury apartments; and a 17,000-square-foot rooftop farm.

Upon completion of Phase III, total investment at Pike & Rose will be approximately $700 million. For additional information about Pike & Rose, visit www.pikeandrose.com.

Federal Realty requests faster creation of Pike District amenities

From Bethesda Beat

Earlier this month, Federal Realty’s chief executive officer sent County Executive Ike Leggett and the County Council a letter airing grievances related to development in the White Flint area near Pike & Rose in North Bethesda. CEO Donald Wood complained that road upgrade projects have fallen behind schedule, progress is sluggish on creating parks and civic spaces and the county isn’t adequately following through on the goals outlined in the White Flint Sector Plan passed in 2010. Moreover, the county hasn’t seemed receptive to Federal Realty Investment Trust’s push for financial incentives for a new office project, he wrote.

The four-page letter concluded with a list of requests—that the county condemn a piece of property necessary to complete the “Western Workaround” road project; furnish the company with financial incentives to construct a 210,000-square-foot office building at Pike & Rose; build a street grid in White Flint West; build a new Metro entrance; and build a civic green at the center of White Flint, among other items. Wood included suggested deadlines, written in bold, for several of the requests.

In response, the county’s chief administrative officer, Timothy Firestine, wrote that market forces, decisions of private property owners and strict state policies have all reined in the pace of White Flint’s transformation. These factors are largely out of the county’s hands, he said.

Amy Ginsburg, executive director of the advocacy group Friends of White Flint, said she understands Federal Realty’s frustration and desire to see parks and road improvements materialize. She also sympathizes with the constraints the county faces because of the roles played by the state and private landholders.

“Everyone wishes the county could wave a magic wand and poof! We’d have everything that’s in the plan tomorrow,” she said. “And it sadly doesn’t work that way.”

You can read the rest of the article at Bethesda Beat. (And we urge you to do so — this is an important and interesting issue for the White Flint/Pike District area.)

You ought to also read the actual letter Federal Realty sent to Montgomery County and Montgomery County’s official response.

 

Q&A with Jill McCarthy, Director of Marketing Federal Realty Investment Trust

From Meetings Today

Tell me more about the Pike & Rose neighborhood and what it brings to Montgomery County’s offerings.
Pike & Rose is truly at the heart of it all. At the crossroads of Rockville Pike, Montrose Parkway and Old Georgetown Road, the neighborhood is centrally located at the intersection of Montgomery County, Maryland’s main thoroughfare. Pike & Rose offers urban amenities and suburban conveniences. First-to-market and unique experiences abound, including a live-music venue, AMP by Strathmore, and iPic theaters, with more on the way. Popular restaurants such as Summer House Santa Monica and Owen’s Ordinary are great meet-up spots for after-work happy hours, while our fast casuals are perfect for a quick lunch on the run. Well-known retailers, including Gap and Nike, anchor the neighborhood for great shopping. The neighborhood is rounded out by a robust event schedule for all ages, including seasonal block parties and monthly Ladies Night Out events.

What’s happening next for the development?
Phase 2 is currently under construction, and we’ll see the much anticipated opening of our next partner, REI, in spring 2017. Late summer and early fall sees the extension of Grand Park Avenue and the opening of retailers such as H&M, Sur La Table and Pinstripes. We’ll also open our third luxury residential apartment building and a public open green space, along with a number of yet-to-be announced retailers and restaurants. Early 2018 will see the opening of Canopy by Hilton, topped by 930 Rose, our now-for-sale luxury condominiums.

What are some of Pike & Rose’s offerings for business groups?
In addition to the businesses that office at Pike & Rose, including Merrill Lynch/Bank of America, Regus and Hilti, local, regional and international businesses have gathered to meet at Pike & Rose. From rental space available at AMP by Strathmore for day-long conferences and evening social events, to private dining at restaurants such as City Perch and Del Frisco’s, and more casual coffee meet-ups at La Madeleine, Carluccio’s or Starbucks, many business groups have expanded the four walls of their offices into the neighborhood for creative, informative and unique meeting and networking opportunities.

Congratulations, Federal Realty and Evan Goldman

Evan Goldman at Pike & Rose

In a recent article about “Best Real Estate Deals” in the Washington Business JournalPike & Rose was lauded as a project  that “already offers a lively mix of places to eat, shop, live and work within its initial phase of development.” (We couldn’t agree more.)

The article quoted Friends of White Flint board member and Federal Realty Vice President of Development Evan Goldman who said, “We wanted the first phase to stand alone as a new center for nightlife and entertainment in the county while construction of phase two was underway.

Federal Realty Signs Big Office Tenant for Pike & Rose

The office market in our area is still rather “iffy.”  Recently, JBG announced that they’d be adjusting the proportion of office to residential space in favor of the latter at their North Bethesda Market II project.  They are concerned that the office space won’t fill.

So, it comes as great news that Federal Realty has leased 40,000 square feet of office space at Pike & Rose to Bank of America Merrill Lynch! They’ll be located in a commercial building, also housing iPic movies theaters, that opens this Fall. Washington Business Journal quotes Carol Nevins, director of the Maryland region for Merrill Lynch Wealth Management, as saying:

We are thrilled to consolidate and relocate our regional offices to the vibrant mixed-use environment of Pike & Rose. Located just steps from the White Flint Metro, Pike & Rose will offer our clients and employees an exciting, convenient and amenity-rich environment that sets a new standard for Montgomery County.

Another step forward for the White Flint we’ve been working toward!  Read the full piece by clicking here.

Federal Realty Requests Sign Variances at Pike & Rose

Construction for phase one at Pike & Rose is becoming more visible as it rises above the barrier fencing that surrounds it.  Presently, that fencing is covered by a cheap, green mesh but Federal Realty thinks it can do better.  To upgrade the look, though, they’ll need approval for a variance from the Sign Review Board.

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Eager to be better neighbors, and offer a more attractive facade during the admittedly messy process of construction, Federal Realty has proposed a new fencing for the 1,860 linear feet along Old Georgetown Road and wrapping around the current project.  The fencing scrim will feature  bold graphics that will not distract drivers but begin creating a sense of place at Pike & Rose.

Also included in the request are two types of temporary pylon signage.  Three freestanding signs will be scattered throughout the property.  At 30′ high by 6.5′ wide, these signs will reflect the Pike and Rose branding.  Variance is also requested for twelve free-standing farm market signs for the Pike Central Farmers Market.  They will be hung from the ten poles already installed around the farm market area plus two banners that will hang between signs.

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None of these will be permanent signage.  The fencing scrim will only stay in place during construction and the farmers market signs will stay at that location until new phases move the market elsewhere on the property in a couple of years.

The Sign Review Board will be hearing this issue on Thursday, April 11th at 8:30am in the First Floor Auditorium of the Stella Warner Council Office Building at 100 Maryland Avenue in Rockville.  You may email your thoughts on the variance requests to Roger Waterstreet at the Department of Permitting Services at roger.waterstreet@montgomerycountymd.

 

 

** Updated 4/12/13 to modify images