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.