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[ Rockville, MARYLAND ]
Federated Realty is underway with the first phase of Pike & Rose, a large mixed-use development located in Rockville (Maryland), envisioned to include 3.4 million square feet of space on a 24-acre site. Pike & Rose is a project of Federated Realty Investment Trust.
At build-out, Pike & Rose is planned to include 450,000 square feet of retail, 1.1 million square feet of office space, 1,500 residential units and 250,000 square feet of hotel space. According to press reports, the project will feature ground-floor retail with apartments, offices and hotel space above. Open plazas, pocket parks, common areas, and a farmers market are all part of the thinking.
The project is situated at the intersection of Rockville Pike and Montrose Parkway in Rockville. The development is about a quarter-mile from the White Flint station on the Washington Metropolitan Area Transit Authority (MART)’s Red line. Another major mixed-use project, the redevelopment of 30-year-old White Flint Mall, is located within a mile of Pike & Rose.
According to the company’s website, Federated Realty is an equity real estate investment trust (REIT) founded in 1962, one of the oldest public REIT’s. Federated is focused on the ownership, management and redevelopment of high-quality retail properties, including shopping centers and urban, mixed-use properties. Federated is headquartered in Rockville (Maryland), maintaining almost 90 predominantly retail real estate projects totaling 10.2 million square feet, as well as seven retail projects totaling one million square feet in Federated’s real estate joint venture in which
Website: Federated Realty Investment Trust
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