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Content about Montgomery County, Maryland

April 13, 2012

While the nation's capital continued its usual lead in office space construction, another surprise quarter occurred with the Maryland National Capital region leading the surrounding region.

According to March data from the Bethesda, Mid-Atlantic regional office of Transwestern and its research subsidiary, Alexandria-based Delta Associates, there was an estimated 7,204,726 square feet of office space under construction or reconstruction in the D.C. area.

March 29, 2012

A planned residential and retail project by real estate developer JBG was met with mostly heavy opposition from community residents who live in the Twinbrook area of Rockville, where the project would be developed.

The site plan for 1800 Rockville Pike came before the City of Rockville planning board Wednesday night seeking approval from the commission. The approval of the site plan would have been the final step before permits are issued and construction starts for the urban style, low-rise project designed by architectural firm, Hord Coplan Macht.

December 16, 2011

Times was running out for a major lease set to expire in 2013 at the Silver Spring Metro Center, but the anchor tenant -- the National Oceanic and Atmospheric Administration (NOAA) -- has decided to stay and renew its lease for another 15 years. The administration has called the urban high-rise office buildings home since 1990.

December 9, 2011
federal government allowed 96 percent of the office space under construction in the Maryland National Capital Region to be pre-leased

With a big help from the federal government, Maryland's "economic engine", Montgomery County, has managed to lead all jurisdictions outside the district in office space construction -- with nearly all of Montgomery County's primary office markets participating.

The latest data from Transwestern Mid-Atlantic with headquarters in Bethesda, shows office space construction in the county stands at nearly 2 million square feet, that puts it ahead of surrounding area jurisdictions including Fairfax and Arlington counties in Virginia.

November 7, 2011

Chevy Chase-based GEICO, one the largest insurance companies in the nation and with primary offices across the Maryland/D.C. border in Montgomery County is set to appear in front of the Montgomery County Planning Board on November 17, 2011 but for reasons not to the liking of either side.

The Planning Board is set to vote on the validity of an extension request for plans to redevelop GEICO's headquarters, and depending on which way the board votes could be a lose-lose situation for both parties.

November 4, 2011

A Developer plans a new project at the former Reed Brothers Dodge Dealership Site

The housing crisis has had ramifications not only for the overall economy, but the auto industry in particular was hit hard and has not recovered. It has yet to return to pre-recession levels. Where vehicles are the next-in-line purchase after real estate for most people, monthly vehicle sales—at one time during the recession—dropped to a level not seen since the early nineties. The hard hit American automakers left a trail of closed dealerships across the region as they cut back on their dealership networks.

October 21, 2011

With no opposition from residents, the development at 10914 Georgia Avenue won unanimous approval from the Montgomery County Planning Board Thursday.

The project will be the latest residential development from downtown Bethesda-based Washington Property Company, which is also building the residential high-rise at 1150 Ripley Street in downtown Silver Spring.

October 14, 2011

Back in May 2010 the U.S. Postal Service issued an RFP through its brokerage firm to sell the site for redevelopment

The development planned for the current main post office site in the Silver Spring Central Business District won approval from the Montgomery County Planning Board Thursday.

Leading the development of the site is Chevy Chase-based Nova-Habitat incorporated which has been joined by McLean-based Insight Property Group LLC to build what is being marketed as the Fenwick Station apartments.

September 1, 2011

Rockville Town Center is continuing to take shape with a much needed office project breaking ground in Montgomery County's seat of operations.

Choice Hotels International (NYSE:CHH) will move 400 employees from 10750 Columbia Pike in Silver Spring to Rockville Metro Plaza II at 121 Rockville Pike, under a 15 year lease. The project is being developed, managed and owned by Foulger-Pratt.

August 22, 2011

With a new grocery store anchor on the way, Federal Realty Investment Trust (FRIT) (NYSE: FRT)wants to make sure patrons are receiving the best experience at the Rockville Town Square.

August 9, 2011

The Class-A, LEED Gold buildings are adjacent to the King Farm mixed-use development.

Bethesda-based First Potomac Realty Trust (NYSE:FPO) announced that it has completed a lease transaction with DRS Defense Solutions, LLC to take space at Redland Corporate Center II in Rockville.

DRS, a technology defense contractor, will occupy 23,033 square feet, taking the entire ninth floor of the 210,862 square-foot Redland Corporate Center II. The company is anticipated to move in from its Bethesda office by March 2012 on a five-year term lease.

July 12, 2011

Choice Hotels International, Inc (NYSE:CHH)  has completed a lease agreement to move its global corporate headquarters to Rockville.

The popular hotel management company will take up an entire building to be constructed at 121 Rockville Pike. The 130,000 square foot Class A office building is expected to break ground shortly, for a projected spring 2013 move in.

July 12, 2011

More details have come to surface on Silver Spring based Choice Hotels International, Inc (NYSE:CHH)  new headquarters in Rockville. The agreement is between Choice Hotels and Foulger.Pratt. Rockville II Limited Partnership.

August 13, 2015

Inc., has released it's annual list of the 5000 fastest growing companies for 2015. The list commonly known as the “Inc 500” measures the growth of U.S.-based private companies between 2011 and 2014 with a minimum revenue of $100,000 in 2011 and minimum revenue of $2 million for 2014. Inc's revenue tracking requirement for companies started in March 2011.

August 7, 2015

A for-profit university offering post-secondary education services is expanding into a newly renovated building in Montgomery County’s largest office market in North Rockville.

With headquarters in a far-flung suburban area like Herndon, Va, Strayer University has attracted commuters with full-time jobs that require flexibility but also the possibility of earning a degree to boost their career and jobs prospects.

July 30, 2015

Bethesda-based Lockheed Martin and Montgomery College are teaming up create healthcare technologies covering wide range of health related areas from national-scale genomics to big data.

The launch of the Healthcare Technology Alliance could help grow the Health Information Technology sector in Montgomery County as well as form synergies between established industries like biotechnology and promising ones like cyber security.

In addition to Lockheed Martin and Montgomery College, the founding members of the alliance include Cisco, Cloudera, Illumina, Intel.

March 22, 2012

Silver Spring-based hospitality operator, Choice Hotels International (NYSE:CHH), Executive Vice President of Global Brands, Marketing and Operations made the following stock transaction on March 21, 2012.

February 16, 2012

First Potomac Realty Trust (NYSE: FPO),the Bethesda-based real estate investment trust (REIT) which recently acquired a 51% interest in two northern Virginia office buildings said Core Funds From Operations (FFO) totaled $14.9 million for the fourth quarter 2011, or $0.28 per diluted share compared to $12.95 million in the fourth quarter 2010. Analyst, using that measure had predicted an average of $0.27 cents per share.

January 5, 2012

Developer of the North Bethesda Center and the U.S. Patent and Trademark Office, in Alexandria, was presented with five awards for Marketing and Advertising Excellence (MAE) at the 2011 annual Property Management Association event.

November 11, 2011

The existing gas station at 7100 Wisconsin Avenue is expected to be demolished by 2012's end

Washington Property Company is moving forward with plans to redevelop a gas station purchased by the company and turn it into mid-rise luxury apartments.

The 0.58 acre site located at 7100 Wisconsin Avenue is on the southern end of the Bethesda central business district (CBD), the site is highly visible from Bethesda's main thoroughfare and will add to several residential projects already under construction or close to breaking ground within Bethesda's CBD.

October 10, 2011

Purple Line enters Preliminary Engineering (PE) phase.

The controversial light-rail project that will connect Bethesda and New Carrollton via Silver Spring has received the go-ahead from the Federal Transit Administration (FTA) to enter the Preliminary Engineering (PE) phase.

The Maryland Transportation Administration (MTA) will move forward with detailed specifications and plans for the 21-station system. The 16.3-miles Purple Line is expected to have a total project cost of $1.9 billion. It would take about an hour to travel from Bethesda to New Carrolton via the system.

October 5, 2011

The new Holy Cross Hospital will be located on the Montgomery College Germantown Campus

With a potential 1,500 new jobs on the way, Montgomery County Government sought it fit to ensure a successful launch of a new 93-bed Holy Cross Hospital proposed for the Germantown area of the County.

Montgomery County Executive Isiah Leggett announced that the planned Holy Cross Hospital is the first Strategic Economic Development Project. To make it official Leggett signed Executive Order 173-11, Designation of Strategic Economic Development Projects.

September 28, 2011

The lowest unemployment rate in the area was in the Bethesda-Rockville-Frederick metropolitan division.

The U.S. Bureau of Labor Statistics released unemployment rate figures for metropolitan areas and divisions today with 262 out of 372 metropolitan areas showing improvement. 26 metropolitan areas showed virtually no change in the jobless rate including the Washington, D.C. metro area.

The D.C. area unemployment rate was flat at 6.1% in August 2011, and was the same figure reported for August 2010 as well as July 2011.

September 23, 2011

Choice Hotels, Concord Hospitality and Roadside Development have come together to build-out a significant piece of the CityMarket at O

Silver Spring-based Choice Hotels International, Inc. (NYSE: CHH) business minded brand is en-route for its first location in D.C. proper.

Choice Hotels, Concord Hospitality and Roadside Development have come together to build-out a significant piece of the $300 Million CityMarket at O mixed-use development with the selection of a Cambria Suites brand hotel.