The Chevy Chase Land Company, a commercial real estate investment and asset management company with properties across the Washington, D.C. metro area, announced a total of 105,954 square feet of eight new leases and six renewals in their office and retail portfolio in Chevy Chase and Bethesda, MD, as well as Reston, VA. The twelve leases closed between May to August 2024.
“We’ve seen leasing activity accelerate over the summer as more people are returning to their daily routines pre-pandemic,” said Jason Winans, Executive Vice President of Asset Management with The Chevy Chase Land Company. “Employees are beginning to return to the office with greater regularity, and this is supporting nearby retail and restaurants. We’re very pleased to see the renewals because it confirms our building renovations are meeting tenants’ desires while also telling the story of how attractive the ‘urban suburban’ submarkets are – with Bethesda and Chevy Chase the ideal examples of accessible cities with all the benefits of day-to-night shopping, dining, and entertainment.”
At 2 Wisconsin Circle, The Chevy Chase Land Company added four new office tenants, including Embark Health, Uncommon Cures, ESG, and Earlens, in addition to renewals that include Optimal Blue/Compass and Messina Howard Miller, and a renewal with expansion in process with a clinical development company — with a total of 30,827 square feet of new and renewal leases.
Last April at 2 Bethesda Metro, The Chevy Chase Land Company completed a $25 million dollar renovation to the interior and exterior of 2 Bethesda Metro where Auto Care Association closed on 7,755 square feet and Citrin Cooperman renewed 3,298 square feet. In October, Pisco y Nazca, a Ceviche Gastrobar that adds a modern twist to traditional Peruvian cuisine, will open on the street level, adjacent to the 2BM lobby.
“The physical and experiential amenities that The Chevy Chase Land Company has committed to in these properties has been pivotal to attracting these quality tenants – while retaining those who are enjoying the refresh to the common areas and community spaces,” said Peter Rosan, Executive Managing Director with Cushman & Wakefield. “They also capitalized on the indoor/outdoor experience, which is an important lifestyle asset, as well as the amenity program that sews it all together.”
The Chevy Chase Land Company also added an interactive amenity center to 5425 Wisconsin Ave, and rolled out a new shared amenity program, Ascend by The Chevy Chase Land Company, which is available to all office tenants across the portfolio.
In Chevy Chase, the Merritt Gallery renewed at The Collection and Sareh Nouri Bridal signed a lease for a total of 3,835 square feet. At Northampton, retailer Due South leased 3,404 square feet. Safeway and Cafesano both renewed leases totaling 56,835 square feet at South Lakes Village in Reston, Virginia.
The Cushman & Wakefield team representing The Chevy Chase Land Company for office leasing includes Peter Rosan, Kevin McGloon, Katie Gormley, and Gwen Dominguez. The CBRE team representing The Chevy Chase Land Company for retail leasing includes Lisa Stoddard, Jen Fink, and Bridget Crotty.
About The Chevy Chase Land Company
The Chevy Chase Land Company is a leading commercial real estate investment and asset management firm headquartered in Chevy Chase, MD. Over the past 130 years, the company has shaped the skyline and landscape of the D.C. metro area, contributing approximately 10 million square feet of transformative office, retail, and residential spaces. Fully integrated, The Chevy Chase Land Company has in-house capabilities covering every aspect of the acquisition, development, management, and disposition process. Distinguished by its experienced team, industry-leading strategies, and positive workplace culture, The Chevy Chase Land Company is backed by its award-winning developments and network of nationally recognized partners. The Chevy Chase Land Company has a rich legacy dating back to 1890 and has earned a reputation for excellence, integrity, and innovation. As stewards of the community, The Chevy Chase Land Company remains highly committed to giving back to the neighborhoods in which it operates and has proudly supported over 500 charities. Visit www.chevychaseland.com for more information.
