John Ziegenhein is President and Chief Executive Officer of The Chevy Chase Land Company, an investment and asset management firm with over 135 years of history. He oversees the company’s new developments, as well as the firm’s portfolio of two million square feet of commercial and mixed-use properties in Maryland, DC, and Virginia. John has over 25 years of experience in real estate development and management, specializing in complex financial structuring, leadership, and change management.
Q1: You are truly local to the DMV. Tell us about that.
A: I grew up in the Baltimore area, where most of my extended family still resides today. After earning my undergraduate degree at Randolph-Macon College, I moved to the DC area to begin my career in commercial real estate. I had the convenience of living on Capitol Hill, while I worked on Pennsylvania Avenue, and pursued my MBA across the street at the satellite classrooms of the Robert H. Smith School of Business at the University of Maryland. I’ve remained in the DC area ever since and now live in Arlington, VA, with my wife and three children.
Q2: How did you get your start in commercial real estate?
A: My career in commercial real estate began at RER Financial Group, which provided a strong foundation in learning all asset types, and specifically the debt markets. As an investment analyst, I broadened my understanding of the financial drivers of commercial real estate investing and then progressed to a deeper dive into the equity side of the business as I moved on to ASB Capital Management.
After a few years in commercial real estate banking – which ended abruptly in 2008 – my next step was at McCaffrey Interests, where I spent 10 years on the development side of the business. There I gained a lot of firsthand knowledge of the complexities and patience required to be successful in development. McCaffrey is highly admired and respected for major projects throughout the country, including several here in the DC area. The company is also privately held and family controlled, which helped give me a better understanding of the dynamics that have shaped The Chevy Chase Land Company for over a century.
Q3: Tell us about your start at The Chevy Chase Land Company.
A: Joining The Chevy Chase Land Company as President and CEO in July 2020 – in the midst of the pandemic – was an immediate challenge. The uncertainty around the pandemic, impact of shutdowns, remote work, and their direct impact on office, retail, and restaurants, created a complex environment. Coming in as an outsider, I quickly focused on creating a strong relationship with the Management Team and Board. Both of these groups give me the support I need to initiate necessary changes in dynamic markets.
We are a forward-looking team that believes in the long-term nature of our business. While in the middle of the pandemic, with most of our properties physically vacant, we took the opportunity to initiate several projects throughout the portfolio, including a major renovation of 2 Bethesda Metro. We created a new lobby experience, added a dramatic amenity pavilion with a modern gym and conferencing facility, and refinished all interior common areas – which has proven to be a winning strategy. We did similar upgrades across the portfolio, including at 5425 Wisconsin Avenue, to remain competitive and meet the needs of our existing tenant base.
Q4: Speaking of strategy, what are you implementing now in your near-future vision?
A: From its very name, The Chevy Chase Land Company started as a true land acquisition firm, eventually evolving to develop and manage legacy assets in office properties, residential communities, and mixed-use centers. While that remains our core focus, we are strategically disposing of some assets to deploy capital on new opportunities that will fulfill our long-term vision for a diverse portfolio and, importantly, where we can create value. We are also considering other strategic investments, including joint ventures and other structured investment products.
Most recently, I have taken a leadership role on behalf of our holdings in the Friendship Heights Sector Plan process that will positively impact the residents and businesses across the entire neighborhood. This initiative will focus on redevelopment opportunities over the next 10 to 20 years, allowing for more transformative projects in the area.
Q5: After the impact of the pandemic, what do you think will be permanent change in the CRE sectors you specialize in?
A: I believe office space is undergoing – and will continue to undergo – the most significant transformation in commercial real estate. While employees now seek more space per person, overall square footage remains a question given the broadening across all industries of the hybrid work model. With return-to-office policies becoming more common but rarely requiring a full five-day presence, “hoteling” and flexible workstations have become the norm. To attract and retain tenants, buildings must cater to their employees and meet modern demands for the Class A office experience with hospitality-level service. Beyond functionality, aesthetics and amenities are crucial. A welcoming lobby that feels like a high-end hotel, biophilic design elements like the green wall at 2 Bethesda Metro, and social gathering spaces like our golf simulator room at 5425 Wisconsin Avenue all enhance the workplace experience. Public art installations further elevate a building’s identity and contribute to a vibrant culture.
Retail, initially hit hard by the surge in ecommerce, is undergoing a resurgence as consumers crave experiential, in-person experiences. While many brick-and-mortar stores shuttered, new concepts are emerging with slightly smaller footprints but stronger integration of digital and physical experiences. Hybrid shopping models, where online and in-store purchases complement each other, are now standard. Pop-up stores, once a niche strategy, have proven successful and often evolve into permanent locations, which we have experienced at a few of our sites. More than ever, retail is about engagement, blending shopping with dining, entertainment, and interactive elements. This experiential focus is reshaping retail destinations into dynamic social environments that attract foot traffic and encourage lingering. This has been a key focus for us at The Collection in Friendship Heights.
I believe residential trends continue to mirror those in the hospitality sector. Residents prioritize features that enhance their daily lives, including outdoor space, rooftop lounges, and recreational amenities in the community. As car ownership declines, particularly among younger generations, proximity to restaurants, grocery stores, fitness centers, and workplaces has become a top priority. Developments like Chevy Chase Lake exemplify this shift, offering a highly walkable environment where retail, dining, and transit access are seamlessly integrated. Walkability and easy access to transit are no longer just perks, but are now essential elements shaping the future of urban living.
Q6: Outside of leading the company, are you active in the industry and community?
A: I have been an active member of the Urban Land Institute, serving on an Urban Development, Mixed Use product council, as well as a member of NAIOP locally. I also serve on The Chevy Chase Land Company’s Executive Committee and sit on the boards of the Arlington Food Assistance Center and the True Ground Housing Partners.
As a company, the entire organization is actively involved in numerous community activities, whether professional, like the Friendship Heights Alliance, or through many of our charitable organizations that we support both financially and through our volunteer efforts.
Q7: Anything else you want to add?
A: Organizational change is rarely easy, but when approached with intention and purpose, it has the power to inspire and transform. At The Chevy Chase Land Company, I’ve had the privilege of working alongside an exceptionally talented team whose unwavering dedication has propelled this organization to new levels of productivity and success. Our core value, “Together We Thrive,” is more than just a motto—it’s the foundation of our collective strength, fostering a culture of collaboration, resilience, and shared commitment. This unity not only drives our passion for the company but also reinforces our dedication to our shareholders. I am deeply grateful to be part of such an extraordinary team.
