Federal Realty Investment Trust (NYSE:FRT) announced today that LCOR will relocate its Washington region headquarters to 7255 Woodmont Avenue taking 6,282 square feet in the award-winning Offices at Bethesda Row in Bethesda, MD. LCOR is a fully integrated real estate investment, development, and management company specializing in large-scale, mixed-use development.
"LCOR is excited to have the opportunity to occupy office space in the Offices at Bethesda Row,” said Harmar Thompson. Executive Vice President, LCOR. “This award-winning property aligns with LCOR's core values of developing unique mixed-use projects and our team looks forward to a custom-designed space with easy access to retail amenities and many transportation options."
Federal Realty is in the process of renovating the 77,973-square-foot 7255 Woodmont Avenue Class A office building, modernizing lobbies, entry canopy, elevator cabs, and restrooms, as well as adding a brand-new HVAC system.
The Offices at Bethesda Row, are sought after and prestigious, and are located in a neighborhood that delivers the very best of dining, shopping, living and working, in a unique environment that is a short walk from the Bethesda Metro station. With more than 536,000 square feet of mixed-use space, Bethesda Row features more than 185,000 square feet of Class-A office space at The Offices at Bethesda Row including 7250 Woodmont Avenue, 7255 Woodmont Avenue, 4825 Bethesda Avenue, 4827 Bethesda Avenue, 4833 Bethesda Avenue and 4920 Elm Street.
“As one of the first and most successful mixed-use and walkable developments in the country, Bethesda Row has created a foundation for the city of Bethesda, attracting headquarter locations for Marriott International, JBG Smith and Host Hotels,” said Daniel Corwin, Director of Asset Management, Federal Realty. “LCOR’s new space in the Offices at Bethesda Row offers the caliber of building and neighborhood that attracts talent and will allow LCOR to provide superior service to its clients.”
About LCOR Incorporated
LCOR specializes in ground-up core urban development and property management services. Over our 40-year history, we’ve applied our comprehensive expertise and fully integrated investment management and development strategy to more than 300 large-scale mixed-use projects.
About Bethesda Row, a Federal Realty neighborhood
Bethesda Row is located in Montgomery County at the intersection of Bethesda Avenue and Arlington Road in Bethesda, MD. Celebrating 25 years in 2019, Bethesda Row has a total of 536,000 square feet of mixed-use space. With premier Class-A office space in the heart of the neighborhood, the Offices at Bethesda Row count among its tenants Prudential, MidCap Financial Services, Clorox, Riverbed Technology, and Broad Street Realty. The neighborhood is home to best in class retail including Giant, sweetgreen, lululemon, Raku, Sassanova, Morley, Mon Ami Gabi, The Apple Store, Aveda, Drybar, Equinox, Bluemercury, Warby Parker, Jaleo, Landmark Theatre, Uncle Julio's, Williams-Sonoma, Urban Country, and Anthropologie & Co., among many others. There is also a residential community, Upstairs at Bethesda Row. For additional information about Bethesda Row, visit www.bethesdarow.com.
About Federal Realty
Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail- based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty’s mission is to deliver long-term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply. Its expertise includes creating urban,mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. Theseunique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 104 properties include approximately 3,000 tenants, in 24 million square feet, and over 2,700 residential units.
Federal Realty has increased its quarterly dividends to its shareholders for 52 consecutive years, the longest record in the REIT industry.Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.federalrealty.com.
