In April of this year, an affiliate of MCB Real Estate purchased the former Shoprite building and 5.5-acre parcel located within Orchard Center at 12028 Cherry Hill Road in Silver Spring, Maryland. Giant Supermarkets has signed a 20-year lease for the for the entire 64,626 square foot building. Giant is currently working through the County permitting process and anticipates starting construction later this year with a projected opening in summer of 2022.
“Orchard Center has been a strong performing center since it opened 20 years ago. Grocery opportunities within a large, well located shopping center that have ample parking and great cotenants like Target and Kohl’s in the Washington DC metro area are relatively rare” noted Drew Gorman, a principal with MCB “Real estate like this with such strong fundamentals is what we typically look for in our acquisitions and gaining Giant’s commitment at the location will make Orchard Center even stronger.”
“Giant Food is excited to open a new location at the Orchard Center to better serve the growing needs of the community,” said Gary Budd, Director of Strategic Planning and Execution at Giant Food. “The new Giant store will have added features and amenities, so it may serve as a one-stop-shop, making it easier and more convenient than ever for our shoppers to enjoy high-quality offerings.”
About MCB Real Estate:
MCB Real Estate is a privately held, institutionally capitalized commercial retail firm that makes select investments in retail, industrial, office and mixed-use asset classes. MCB owns and operates approximately 10 million square feet of commercial real estate. More information on MCB is available at www.mcbrealestate.com.
About Giant Food
This year, Giant Food is celebrating 85 years as a community grocery store. Since opening its first location on Georgia Ave. in Washington, DC in 1936, Giant has been an integral part of our customers’ lives and the communities it serves. Giant is committed to being a Better Neighbor and has designated four main giving pillars that address local Food Insecurity, Military Support, Pediatric Cancer Research, and Social Equality. Giant is headquartered in Landover, Md. and operates 164 supermarkets in Virginia, Maryland, Delaware, and the District of Columbia with approximately 20,000 associates. Included within the 164 stores are 152 fullservice pharmacies, 82 full-service PNC Banks and 24 Starbucks locations. Giant fits all the ways today’s busy customers want to shop – whether in store or online. With 155 Giant Pickup locations and Giant Delivers available to all our market areas in DC, MD, VA and DE, customers have even more convenient options right at their fingertips to get the best product and prices, whenever and however they want it. For more information on Giant, visit: www.giantfood.com.
