Bright MLS Lease Brings Pike & Rose Office Building to Full Capacity
Federal Realty’s transit-oriented Pike & Rose neighborhood in North Bethesda, Md., is filling up fast.
Bright MLS, a national real estate listings company, has inked a 13,455-square-foot lease at 909 Rose, a 212,000-square-foot office building on Rose Avenue that opened last year. The building is now completely leased, with a tenant roster that includes Beiser Law Firm, coworking chain Industrious, Kuta Software and Rycon Construction.
The property is part of a 24-acre mixed-use development that features 765 apartments, 99 condos, a 177-room hotel, and additional 80,000 square feet of office space and more than 40 retailers.
“The success of 909 Rose in a market where there is double-digit office vacancy downtown speaks to what employers and employees are looking for in office space – excellent location, transportation options and world-class amenities,” Stuart Biel, senior vice president of Federal Realty, told Commercial Observer.
Bright MLS represents more than 100,000 real estate professionals across six mid-Atlantic states and Washington, D.C., and is moving its operations from 9707 Key West Avenue in Rockville.
“The state-of-the-art building and energetic, vibrant neighborhood offer exactly what we sought for our current and future team members. It’s a place we look forward to calling home,” Brian Donnellan, Bright MLS’ president and CEO, said in a prepared statement.
JLL’s Bernie McCarthy and Danny Sheridan handled the lease for the owner, while Bob Dickman and Rusty McCabe of Avison Young represented the tenant in the deal.
Federal Realty is also seeing early interest in another Pike & Rose project, 915 Meeting Street, a 286,000-square-foot office building with 9,600 square feet of ground-floor retail, which is under construction and slated for completion in the third quarter of 2023. Choice Hotels recently signed on as the first tenant.
Keith Loria can be reached at Kloria@commercialobserver.com.