Press Release 2014

Lerner Announces First Two Lead Tenants for Fallsgrove Plaza

Rockville, Maryland, March 26, 2014 - Lerner Enterprises, one of Washington, D.C.'s largest private real estate developers, is pleased to announce that Shady Grove Dermatology, Laser & Vein Institute and Arthritis & Rheumatism Associates have signed leases at Fallsgrove Plaza, a state of the art medical | office building that was recently completed in Rockville, Maryland. Shady Grove Dermatology, Laser & Vein Institute will occupy 4,000 square feet on the first floor lobby and Arthritis & Rheumatism Associates will occupy 12,419 square feet on the second floor of the five story building. Both offices will apply for LEED® design standards.

"We are pleased to welcome Shady Grove Dermatology, Laser & Vein Institute and Arthritis & Rheumatism as the lead tenants in our newest state-of-the-art mixed-use building," stated Mark D. Lerner, a principal of Lerner. "Fallsgrove Plaza is the premier medical | office building within the Life Sciences Corridor of Montgomery County, Maryland and tenant interest has been tremendous due our buildings strategic location near a leading hospital, hotels, shops, and restaurants," he added.

Shady Grove Dermatology, Laser & Vein Institute, led by Dr. Sherry L.H. Maragh (pronounced mirage), will be a state-of-the-art comprehensive dermatology medical spa specializing in the most advanced techniques of medical, cosmetic, laser and surgical dermatology. Dr. Maragh currently has two offices in Ashburn and Warrenton, Virginia and will debut her first Maryland practice at Fallsgrove Plaza.

Arthritis & Rheumatism Associates, will be relocating their office from Fallsgrove Village Office Center and expanding into a new larger practice within Fallsgrove Plaza. Arthritis and Rheumatism Associates is the largest rheumatology practice in the Greater Washington Metropolitan region with more than 30 years of experience. The practice has other locations in the District of Columbia, Chevy Chase and Wheaton, Maryland.

Both the tenants and Lerner were represented by David A. Gittleson, Peter G. Papantoniou, and Nicholas M. Zuppas of Gittleson Zuppas Medical/Commercial Realty of Bethesda, Maryland.

Fallsgrove Plaza (FallsgroveOffice.com) is a five-story state-of-the-art Class 'A' 110,000 square foot medical | office building located at 14995 Shady Grove Road in Rockville, Maryland within the award-winning Fallsgrove master planned community. The building is strategically located across from the region’s leading hospital and life science centers, Shady Grove Adventist Hospital and the Shady Grove Life Sciences Center. The new building is LEED® Gold certified and recently completed construction.

Fallsgrove Plaza currently has Class 'A' office, medical and retail space available from 2,500 to 89,920 square feet. Gittleson Zuppas Medical/Commercial Realty, Inc. of Bethesda, Maryland (gzrealty.net) leads the medical | office leasing effort for the building and Lerner is leasing ground level retail space with prime Shady Grove Road frontage. The building was designed by DVA Architects (DVA-Arch.com) of Gaithersburg, Maryland.

The new building is within walking distance to Lerner’s other projects including the award-winning Fallsgrove Village Center (FallsgroveVillageCtr.com), a community shopping center featuring Safeway plus 30 shops and restaurants; the award-winning fully leased Class ‘A’ Fallsgrove Village Office Center (FallsgroveOffice.com); and the Fallsgrove Hilton® Garden Inn (RockvilleGaithersburg.HGI.com) and Fallsgrove Homewood Suites Hotels (RockvilleGaithersburg.homewoodsuites.com).

BUILDING FEATURES AND 'GREEN' PROJECT AMENITIES INCLUDE:

  • LEED® Gold Certified Design.
  • Gurney elevators and abundant garage parking.
  • Close proximity to Shady Grove Adventist Hospital and the Life Sciences Campus and one-half mile from 
    I-270.
  • A sustainable site design that minimizes the development footprint and maximizes open space.
  • Roofing and parking systems designed to minimize the building’s contribution to heat island effect.
  • Water efficiency that results in 40% lower usage than typical new office buildings.
  • Landscaping that consists of water-efficient native and adapted plants.
  • High efficiency curtain wall system with low-e glass that keeps the building cool in the summer and warm in the winter.
  • Building design and energy management system that results in the usage of 20% less energy than a typical office building.
  • Material and resource program that uses recycled, local and regional building materials, and will recycle construction waste.
  • Electricity used in the building is offset by the purchase of Green-e certified power.
  • Indoor environmental quality program provides for 30% more fresh air than is required by code.
  • Class 'A' lobby designed with sustainable, high quality materials and finishes.
  • Walking distance to shops and restaurants reducing the need for vehicular trips.

About Fallsgrove

The Fallsgrove master-planned development is a 257-acre community located on the former Thomas Farm in Rockville, Maryland off Shady Grove Road. Within the development is the Fallsgrove Village Center, which includes Safeway and other retailers and restaurants, residential dwellings that include single-family homes, town-homes, courtyard homes and multifamily units, the Fallsgrove Hilton® Garden Inn and Fallsgrove Homewood Suites hotels, Fallsgrove Village Office Center and over 850,000 square-feet of office space. Lerner’s developments within Fallsgrove include retail, office and hotel components.

About Lerner Enterprises

Lerner Enterprises (Lerner.com) of Rockville, Maryland, founded by Theodore N. Lerner in 1952, is one of Washington, D.C.'s largest private real estate developers and is involved in all phases of commercial, residential, retail, hotel and mixed-use real estate. This includes planning, development, construction, leasing and asset and property management. Lerner has developed and currently manages more than 20 million square feet of office buildings, retail centers and residential communities. Lerner's office portfolio is comprised of many well-known developments including: The Corporate Office Centre at Tysons II (Tysons2.com), Tysons VA; 2000 Tower Oaks Boulevard (TowerOaks.com) with LEED® Platinum Certification, Rockville, MD; The Corporate Office Park at Dulles Town Center (DullesTownCenter.com), Dulles, VA; Washington Square (WashingtonSquareDC.com), Washington, D.C.; Fallsgrove Village Office Center (FallsgroveOffice.com), Rockville, MD; White Flint North, North Bethesda, MD; 20 M Street, SE (20MStreetSE.com) with LEED® Gold Certification, Washington, D.C.; 1133 Connecticut Avenue, NW, Washington, D.C.; Flint Hill Park (FlintHillPark.com), Fairfax, VA; and 7799 Leesburg Pike, Falls Church, VA, among many others. 2000 Tower Oaks Boulevard, Lerner’s corporate headquarters, was recently internationally recognized in the World’s Greenest Book by Jerry Yudelson and Ulf Meyer.

Lerner’s newest developments include:

  • The construction of 1775 Tysons Boulevard, a LEED® Platinum designed 476,000-square foot, Class ‘A’ office tower that will deliver in late 2015 in Tysons, Virginia.
  • The completion of a major interior and exterior renovation of One Flint Hill (FlintHillPark.com), a 132,000 square foot 6-story medical and commercial office building within Flint Hill Park in Fairfax, Virginia.
  • The construction of Windmill Parc at Dulles Town Center (WindmillParcDTC.com), a 437-unit luxury apartment home community in Dulles, Virginia.  Phase one of the project is scheduled to open in the fall of 2014.
  • The construction of Nokes Plaza at Dulles Town Center, a one-story 56,000 square foot retail | office | medical development.  Occupancy is scheduled for the fall of 2015.
  • The expansion of the Residence Inn – Dulles Airport @ Dulles 28 Centre projected to begin in the second quarter of 2014.
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