Lakeforest Mall Announces Community Leasing Effort for Startups, Concepts, and Expansions
With recent redevelopment moratorium, iconic regional mall aims to attract new tenants
GAITHERSBURG, Md. (August 24, 2020) — Lakeforest Mall owner WRS Inc., through their property manager Heritage Partners, announced today a new community leasing effort to offer Mall space for community concepts, local startups, and existing tenant expansions.
Last week Montgomery County officials approved a 12-month moratorium on the future redevelopment of Lakeforest Mall, preventing the submission of any new applications to the city otherwise necessary to process the approvals for a new, vibrant mixed-use project. As a result, the Mall’s property management is now offering leasing specials to accommodate the needs of new and growing businesses and entrepreneurs from throughout the region.
Spaces are available in a variety of sizes and configurations throughout the Mall with flexible lease terms to optimize success for new tenants.
“Lakeforest Mall has been a beloved shopping destination for generations of Montgomery County residents,” said WRS Inc. and Heritage Partners in a joint statement. “For decades, the Mall has served the needs of the community — from attracting an assortment of national and local retailers and eateries, to hosting special events and celebrations attended by thousands. As the Mall enters its next evolutionary phase, we’re excited to continue our commitment to the community by supporting the next generation of Montgomery County businesses.”
Interested parties are encouraged to visit www.hp-llc.com/lakeforest-mall to apply for leasing opportunities, or they may contact the Lakeforest Mall general manager Len Maenza at lm@hp-llc.com or 301-963-0500.
Lakeforest Mall is located in Gaithersburg, Maryland off the I-270 exit for Montgomery Village Avenue. The Mall features a diverse selection of stores, eateries, and services in the Gaithersburg and upper Montgomery County area. Existing retailers include: Aeropostale, Bath & Body Works, The Children’s Place, DTLR, Finish Line, H&M, Hollister Co, Journeys, LensCrafters, Macy’s, Rainbow, Spencer’s Gifts, and Shoe Dept Encore.
About WRS Inc.
WRS is a full-service real estate investment firm that specializes in development, property management, commercial brokerage and construction management.
Since launching in 2001, WRS has developed more than 30 anchored retail shopping centers and mixed-use projects covering over 10 million square-feet of retail space. WRS has aided in the development of more than 100 additional projects. Learn more at www.wrsrealestate.com.
About Heritage Partners
Heritage Partners, a full-service national real estate development firm with a strong focus in the Mid-Atlantic markets, works with institutional investors to build and manage neighborhood shopping centers, government and medical office, net-leased single-tenant pads. Backed by solid data, and nimble with respect to asset types, the firm also provides institutional-quality contracted property management and third-party leasing services. Learn more at www.hp-llc.com.