28 Jun Submarket Focus: North Rockville
The area of North Rockville has gone through cycles of being an active and thriving market to the highest sustained vacancy rate in suburban Maryland. Nonetheless, it is still the nexus for a highly skilled workforce, and offers convenient access to exploding developments and prime real estate. Looking at Shady Grove, the area is presently undergoing some exciting expansion. On the East side: Mom’s Organic Market and a new CVS are now in full swing at Shady Grove Road and Choke Cherry Road. 1788 Holdings/Lantian Development is in the planning phase of redevelopment of seven existing office buildings.
Moving over the West side, PS Business Parks is laying out plans for their 75 spec suites – a sweet opportunity for tenants in the market for space. The suites will range from 1,500 – 7,500 of square footage.
And, the National Cancer Institute is poised for their next major expansion!