Business Notes: Lord & Taylor Closing Lakeforest Mall Location
Plus: Rockville medical clinic closing in July; Luxury apartments open in Silver Spring
Lakeforest mall in Gaithersburg will lose Lord & Taylor in September.
Via JONES LANG LASALLE
Lord & Taylor closing Lakeforest mall location
The department store’s Gaithersburg chain will leave in September, according to state
Department of Labor, Licensing and Regulation records.
Notice of the closure was received on Wednesday, and 73 employees will be laid off.
Lord & Taylor’s parent company, Hudson’s Bay Co., announced in May plans to pursue “strategic alternatives” for the chain, including a possible sale or merger.
The store is located at 701 Russell Ave.
The Washington Business Journal first reported Lord & Taylor’s exit.
Lakeforest mall is currently up for sale.
Rockville medical clinic closing in July
CHI Health Care is closing after six years in Montgomery County, citing financial difficulties.
The Rockville clinic has announced it will shut July 23.
CHI had a value-based care system, dictating costs by the success of treatment instead of charging for the service.
In an announcement last week, the clinic said its value-based programs haven’t “taken hold fast enough to sustain CHI’s financial survival.”
The clinic included a list of several health care providers in the area for patients now in need of a new provider, including Johns Hopkins Community Physicians, Family Health Care and Rockville Internal Medicine, all of which have locations in Rockville.
Luxury apartment building opens in downtown Silver Spring
Solaire 8250 Georgia Ave. debuted last week.
Bethesda-based Washington Property Com. has leased about half of the 20-story, 338-unit building.
WPC Vice President of Development Janel Kausner called the building “a transformative project” that will “establish downtown Silver Spring as a destination of choice,” in a statement.
Rockville-based Lendlease served as the general contractor, and Baltimore-based Design Collective was the architect.
The location marks WPC’s fourth Solaire-branded apartment complex, along with buildings in Bethesda, Wheaton and another in Silver Spring. The company is expected to break ground on a fifth Solaire building, also in Silver Spring, later this year.
Virginia group takes over Potomac Promenade management
Rappaport, a commercial real estate agency in McLean, Virginia, is now representing the Potomac shopping center.
The 99,505-square-foot property was recently purchased by Dallas-based investment services firm Sarofim Realty Advisors, and Rappaport was tabbed to manage leasing at the center.
“We are excited to be chosen to manage the retail leasing opportunities at Potomac Promenade by Sarofim,” Rappaport Director of Leasing and Brokerage Alex Shiel said in a statement. “Potomac Village is a tremendous location for retailers and restauranteurs to call home and I am thrilled to take the shopping center into its next chapter.”
Potomac Promenade was built in 1976, and is anchored by Giant Food. The shopping center is located at 9812 Falls Road.
IT Services Company President Speaks at D-Day Event
Maj. Gen. John Epperley, president of Bethesda-based DMI Federal, represented the Virginia National Guard’s 29th Infantry Division at a ceremony last week in Normandy, France.
The event honored the 75th anniversary of the D-Day invasion, which freed Western Europe from Nazi Germany’s rule.
Members of the 29th Infantry Division were among the first soldiers to break through German forces on June 6, 1944. Epperly is currently the commanding general of the division.
“I’m humbled to represent the members of the 29th Infantry Division at the 75th anniversary of the assault on Omaha Beach,” Epperly said in a statement. “The friendship between the 29th Infantry Division and the people of Vierville-sur-Mer, France, was born on that fateful day and has endured.”
Epperley has more than two decades of business experience in addition to his military service, and was recently promoted to president of DMI Federal.
“We fully support John’s leadership in the Virginia National Guard and thank John, and the many other citizen soldiers that work at DMI, for their service to our nation,” DMI CEO and Founder Jay Sunny Bajaj said in a statement.
DMI has 21 locations around the world and partners with clients on digital transformation and mobility services.
Charlie Wright can be reached at firstname.lastname@example.org