Pike & Rose Office Tower in Bethesda Welcomes 4 New Tenants
Federal Realty Investment Trust has signed four new tenants to a combined 10,800 square feet at 909 Rose Avenue, a 212,000-square-foot office building in the Pike & Rose neighborhood of North Bethesda, Md., Commercial Observer has learned.
The new tenants include Rowe, Weinstein & Sohn (3,003 square feet); Rycon Construction (2,577 square feet); Beiser Law Firm (2,000 square feet); and Kuta Software (2,500 square feet). No additional lease terms were disclosed, but rents in the area typically command $25 to $30 per square foot.
“We are seeing strong demand for move-in ready space, particularly in an advanced healthy building, such as 909 Rose,” James Milam, Federal Realty’s senior vice president, told CO. “We are already more than two-thirds of the way fully leased. These new tenants join OneDigital, United Solutions, Industrious and Federal, and will benefit from our dynamic location in the Pike & Rose neighborhood to help recruit and retain talent.”
Federal Realty broke ground on the 11-story building with ground-floor retail three years ago with no pre-leases.
The office building is part of the 24-acre, Pike & Rose mixed-use development, which features 765 apartments, 99 condos, a 177-room hotel, and additional 80,000 square feet of office space and more than 40 retailers.
The property is near numerous shopping, dining and entertainment amenities, and Wi-Fi is free throughout the neighborhood, allowing for expanded outdoor workspace.
“Location is extremely important to our firm and 909 Rose makes us easily accessible to our clients throughout Maryland, D.C. and Virginia,” Robinson Rowe, principal at Rowe, Weinstein & Sohn, said. “With proximity to 495 and 270, as well as Metro’s Red Line, it was both the 909 Rose trophy office building and the Pike & Rose neighborhood that were extremely attractive to us. Being able to offer a dynamic mix of premier retail and dining options will appeal to our clients, and enhance our employee morale and engagement.”
Additionally, Federal Realty announced that it would be adding spec suites to the building, ranging from 1,700 to 7,270 square feet, all available on the sixth floor. According to Milam, tenants can tailor the suites, and all will be move-in ready by August.