North Bethesda, Maryland
Market: Washington, D.C.
Type: Mixed-Use, Multifamily Residential, Retail
Role: Development Partner
Status: Development completed in 2010
Pedestrian-friendly, mixed-use property one block south of a Metro light-rail transit station, approximately seven miles northwest of the District of Columbia.
397 rental apartments
203,000 square feet of retail space
5,200 people/square mile
108% of metro area median household income
Invested in the property through a venture with the property’s developer, The JBG Companies.
Developed four stories of rental apartments above the retail shops on the south and west sides of the property, the north side of which features a 24-story, glass tower that is the tallest residential building in Montgomery County, Maryland.
Located on Rockville Pike, two blocks south of the White Flint Metro transit station, which provides light-rail access for commuters to points throughout the Washington, D.C., metropolitan area. The 800,000-square-foot White Flint Mall is located directly across from the property.
The retail component, which is anchored by Whole Foods Market, draws from adjoining neighborhoods, the residential community on-site and the workforce in neighboring office buildings. LA Fitness, Arhaus Furniture and several restaurants serve as key tenants.
Part of a multi-site portfolio of operating properties and planned development projects located in the Washington, D.C., metropolitan area that is jointly owned by MacFarlane Partners and The JBG Companies.
Named Multifamily Deal of the Year for 2010 by the Washington Business Journal.
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