A Child Development Center Grows in Montgomery County
By Keith Loria January 31, 2023 3:39 pm
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Hope Grows Child Development Center will replace a Gold’s Gym at Fox Chapel Shopping Center in Germantown, Md.
The day care center has inked a 10,803-square-foot lease at the a 115,000-square-foot retail plaza at 19721 North Frederick Road. The previous tenant vacated the space last April.
“This represents immediate backfill in a less-than-certain retail leasing environment and daily pickup and drop-offs by parents means the center and all its tenants naturally become more top of mind for locals,” Craig Kates, director of tenant advisory services for Edge, which represented the tenant, told Commercial Observer.
Other tenants at Fox Chapel include Great Wall Supermarket, Yuraku Japanese Restaurant, Verizon Wireless, Dunkin’ Donuts and Enterprise Rent-A-Car.
More than 33,000 vehicles pass the site each day, and more than 55,000 people live or work within a three-mile radius, according to recent data from CoStar.
The Germantown site marks the educational facility’s third day care in Montgomery County, joining locations at 9845 Lost Knife Road in Montgomery Village and 20111 Century Boulevard in Germantown.
“The success of our first two child care and educational centers have provided us tremendous confidence to open another facility serving the needs of Montgomery County-area parents and families,” Salema Horn, the owner of Hope Grows, said in a prepared statement.
The company plans to expand in Montgomery, particularly in the Olney and Silver Spring areas, according to the statement.
Kates represented the tenant in the lease, while Susan Bourgeois of The Rappaport Companies represented the landlord.
Keith Loria can be reached at Kloria@commercialobserver.com.
