Before two Bethesda-based developers transform 31 acres of Rockville office buildings into a new mixed-use neighborhood, they’re looking to fill vacant space in the existing buildings.
Lantian Development and 1788 Holdings on Wednesday announced four tenants in two of the property’s seven office buildings have signed leasing renewals.
However, one of the buildings, 2094 Gaither Road, is completely empty. The developers said they are marketing it “exclusively for medical and healthcare uses” and renovating three other buildings in an attempt to attract tenants before the major redevelopment begins.
Lantian and 1788 Holdings announced in August that they bought the buildings for $50 million. The two-story office buildings are bordered by Shady Grove Road to the northwest, Choke Cherry Road to the southwest and Gaither Road to the northeast.
Over the next 10 years, the developers plan to tear down the office park and build a $500 million mixed-use office, retail, hotel and residential project with up to 2 million square feet of space.
The office buildings at 2 and 4 Choke Cherry Road are scheduled to be demolished first.
The developers said they plan to unveil branding and design concepts for the project early next year that “will mirror other pedestrian-friendly projects in the suburban Maryland region, highlighted by street-level retail.”
The developers must get approval for the redevelopment from the City of Rockville’s Planning Commission. After the August announcement, 1788 Holdings founder Larry Goodwin said the developers hoped to submit their project plan to the Planning Commission within months.
