A Rockville-based business management consultant signed a lease to occupy part of Station Square, an office complex in downtown Silver Spring that covers more than 500,000 square feet.
Bridge Investment Group announced in a news release Wednesday that it had signed a deal with EnCompass LLC for the lease of 20,588 square feet for more than a decade at the Wayne Avenue complex. Encompass, a woman-led company, “partners with government, multilateral and nonprofit organizations” and will be moving from its current headquarters in Rockville.
“We are excited to move our growing company to Silver Spring, a community that combines urban energy and a hip vibe and feels like a welcoming neighborhood at the same time,” EnCompass LLC CEO Tessie Catsambas said in a prepared statement. “We are delighted with the fruits of Bridge’s investment and look forward to making Station Square the new home of EnCompass.”
Station Square is near the Silver Spring Metro station, and the future site of a station for the Purple Line light-rail, which is scheduled to open to passengers in the fall of 2026.
Bridge Investment has spent nearly $5.5 million to renovate and make improvements to Station Square, a complex which towers over the western side of Georgia and Wayne avenues. Some of the changes include an upgraded patio, modern conference room and boardroom, and renovated lobbies. Java Nation, a local coffee and restaurant chain, plans to open a new location at 1010 Wayne Ave. in early 2023, and other tenants are expected to open spaces in the complex next year.
“The ease of access to major city hubs and wide array of amenity upgrades are expected to increase employee satisfaction with returning to hybrid in-person work and contribute to new talent acquisition,” Bridge Investment said in the news release.
Bridge Investment bought the Station Square complex for an undisclosed amount in 2018, turning what was once envisioned as three separate buildings into a single office campus.