Federal Realty’s Pike & Rose to Headquarter Alternative Lodges Worldwide

– Successful Pike & Rose office continues to grow with a new 276,000 square meter building. –

Published: Oct 25, 2021 at 12:00 PM EDT|Updated: 8 minutes ago

NORTH BETHESDA, Md., October 25, 2021 / PRNewswire / – Federal Realty Investment Trust (NYSE: FRT) announced today that Choice Hotels International, Inc. (NYSE: CHH) has signed a long-term lease for 105,000 square feet at 915 Meeting Street, a new 276,000 square foot trophy office building located in the award-winning mixed-use area of ​​Pike & Rose in. should be built North Bethesda, Maryland.

Rendering: A proposed rendering of 915 Meeting Street, which will serve as the headquarters of Choice Hotels at Pike & Rose, North Bethesda, MD. The company will move there from December 2023.

“Pike & Rose offers everything employers and employees are looking for today in terms of office space – a convenient location with excellent regional connections and first-class amenities both inside and outside the building,” said Wendy Seer, the company’s President for the East Coast Region. “We are excited to add a Choice Hotels caliber company to a growing list of leading companies that have chosen a Federal Realty office environment to help them attract quality talent and improve their brands.”

915 Meeting Street will be a 16-story, state-of-the-art, LEED Gold focused building with 9,600 square feet of retail space on the ground floor, approximately 25,000 square feet of flexible flooring and 700 dedicated parking spaces. The Gensler-designed building will incorporate a vibrant architectural design that includes numerous amenities such as a rooftop conference center with communal common areas, WiredScore-enabled connectivity, a fitness center, and resource-efficient sustainable and wellness features.

In the rapidly developing sub-market of North Bethesda, 915 Meeting Street is located in the traffic-focused, LEED Gold-certified Pike & Rose neighborhood and its 400,000 square feet of carefully curated retail, service, dining and entertainment options. The new build follows the success of the 300,000 square meter existing Pike & Rose office product, to which tenants like Bank of America, JLL, Hard-working, OneDigital and the Federal Realty corporate office.

915 Meeting Street is expected to break the ground later this year. 40% of the building is pre-leased to Choice Hotels, who plan to relocate around 400 company employees from their current headquarters from December 2023. Bernie McCarthy, Managing director, and Danny Sheridan, Managing Director at JLL, represented Federal Realty, and Steve London, vice chairman of Savills, represented Choice Hotels.

“It is gratifying to see that Pike & Rose has become an established neighborhood and the property of choice for multiple uses,” said Don wood, Chief Executive Officer for Federal Realty. “The continued demand for offices in our mixed-use developments, coming from world-class companies like Splunk and NetApp at Santana, Partners Healthcare and PUMA at Assembly, and now Choice at Pike & Rose, confirms our track record in providing a high-quality product, that benefits from the state-of-the-art environments we have created. “

About Hecht & Rose

Since opening in 2014, the traffic-oriented district has grown to over 700,000 square feet, including over 50 well-designed retail tenants. The choice of restaurants (including Summer House Santa Monica, Fogo de Chao, & pizza, sweetgreen, and Julii), retailers (including REI, Sephora, LLBean, Sur La Table, and Uniqlo), a state-of-the-art Porsche dealer, and unique entertainment options (including iPic Theaters, Pinstripes, Sports & Social and AMP by Strathmore) have created a unique retail environment. The neighborhood is being upgraded with 99 luxury condos and penthouses in a unique location via Canopy by Hilton, a 177 key boutique hotel. 300,000 square feet of prime office space with more on the way; 765 luxury apartments; and a 17,000 square meter rooftop farm. away June 30, 2021, Federal Realty’s total investment in Pike & Rose is approx. $ 710 million. To learn more, visit www.pikeandrose.com.

About Federal Realty

Federal Realty is a recognized leader in the ownership, operation, and remediation of high quality retail properties located primarily in major coastal markets of United States Washington, DC to Boston as well as San Francisco and The angel. Founded in 1962, Federal Realty is committed to long-term, sustainable growth by investing in communities where retail demand exceeds supply. His expertise includes the creation of urban, mixed-use quarters such as Santana series in San Jose, California, Hecht & Rose in North Bethesda, Maryland and assembly line in Somerville, Massachusetts. These unique and vibrant environments, combining shopping, eating, living and working, provide a destination that is valued by their respective communities. Federal Realty’s 105 properties comprise approximately 3,000 tenants in an area of ​​25 million square feet and approximately 2,900 residential units.

Federal Realty has increased its quarterly dividends to its shareholders for 54 consecutive years, the longest record in the REIT industry. Federal Realty is a member of the S&P 500 index and its shares are traded on the NYSE under the symbol FRT. For more information on Federal Realty and its properties, visit www.federalrealty.com.

Media inquiries:
Brenda orchard
Director, corporate communications
301.998.8316
bpomar@federalrealty.com

Rendering: Block 9 at Pike & Rose in North Bethesda, MD.

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SOURCE Federal Realty Investment Trust

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