Retail/Mixed Use/Office
Current Retail/Mixed Use/Office Projects
Northeast
Maryland Properties
Cap 10 - 7340 Westlake Terrace, Bethesda, MD
Cap 10 - 2059 Generals Highway Annapolis, MD
Virginia Properties
Cap 10 - 4425 Fortuna Center Plaza, Dumfries, VA
Midwest
Michigan Properties
321-361 W 14 Mile Rd Madison Heights WI
321-361 W. 14 Mile Road is a 1.38 acre site with two retail buildings totaling 7,838 SF. The site sits near the intersection of W 14 Mile RD and I-75, two heavily traveled roads in the Detroit MSA, and it is across the street from Oakland Mall making this site a strategic location for retail tenants capturing mall traffic. The property is 100% leased to long-term tenants including Grand Azteca, a family owned and operated authentic Mexican restaurant that has been operating at this location for over 15 years and VisionWorks, the national eyeglass and vision retail group.
Legacy Projects
405 S. Frederick Avenue
405 S. Frederick Avenue is a 2-acre site in Gaithersburg, Montgomery County Maryland that was owned by a family who operated an antique shop on it for over 65 years. The property sits at a lighted intersection at Educational Blvd, directly across from the 2,400 student Gaithersburg High School and a Gaithersburg activity center/park. 1788 closed on the site in early 2019 with a 20-year ground lease with WAWA in hand. This project will represent WAWA’s long-anticipated initial entry into Montgomery County. The firm expects to secure all necessary approvals for this project in late 2019 and WAWA anticipates opening its store for business in late 2020.
Cap 10 Portfolio
1788 acquired a 10-asset portfolio of well-located vacant retail pad sites throughout the Washington, DC MSA. Eight of the sites are former Capital One Bank branches and two are land parcels that were to be developed as bank branches. The portfolio is comprised of properties in prime sub-markets of suburban DC including Montgomery County and Anne Arundel County MD, as well as Fairfax and Prince William County, VA.
42315 Randolph Road
Silver Spring, MD
5511 Franconia Road
Alexandria, VA
19610 Club House Road
Montgomery Village, MD
4185 Altamont Place
White Plains, MD
2801 University Blvd
Kensington, MD
26001 Ridge Road
Damascus, MD
101 Sandstone Drive
Walkersville, MD
Potomac Promenade
1788 Holdings represented Sarofim Realty Advisors in its purchase of Potomac Promenade, a Giant Food-anchored “fortress” retail center located in the epicenter of Potomac Village, MD. This property is one of only two grocery anchored retail properties in the severely supply-constrained Potomac Village retail market. Within a 3-Mile radius of the property, the population of 37,237 has a household income of over $330,000. The project represented Sarofim’s initial investment in the DC market.
The Grove
1788 Holdings purchased The Shady Grove office park (7 buildings totaling 435,506 square feet) in August of 2015 in an off-market transaction with an institutional investor with the intent of converting it to mixed use. The park sits in the heart of the North Rockville submarket which is the largest office submarket in Montgomery County. This submarket is the home of a heavily concentrated and thriving biotech and medical cluster of companies, has an average annual household income of approximately $130,000 and is generally considered to be under-retailed.
1788 Holdings sold its interest to its capital partner once the final project concept was determined and preliminary approvals were in place. Upon completion, The Grove, will total 1.6 million square feet of residential and retail space, a hotel, offices, and 250 townhouses.
