Delay for Proposed Rockville Pike Wal-Mart
Pike Center leases renewed until September 2013.
Construction of a Wal-Mart that was expected to break ground on Rockville Pike later this year has been delayed and tenants of the Pike Center where the store is planned have had their leases extended, a principal with the company developing the project said.
It is “difficult to say” how long the delay could last, said Krista Di Iaconi, principal of acquisition and development for JBG Rosenfeld Retail. It could be a year or more, she said.
The store originally was scheduled to open in late 2013.
Tenants have received short-term lease extensions that will allow businesses time to make relocation plans, Di Iaconi said.
Bagel City owner George Kavadoy said that the new lease for his popular shop will expire in September 2013.
Though there are changes in the works to the proposal that was introduced in November, the developer is still working towards a transit-oriented plan, Di Iaconi said.
JBG Rosenfeld Retail purchased the Pike Center in 2006 and honored the lease agreements negotiated by the previous owners.
“We are currently working with the shop owners,” Di Iaconi said. “We have been in conversations with the tenants all along.”
The proposed Wal-Mart is an 80,000-square-foot urban prototype. In comparison, a traditional Wal-Mart is 120,000 to 200,000 square feet, Di Iaconi said. The store will include a full grocery and pharmacy, which together will comprise about half of the space.
As the project progresses shop owners will be kept informed, Di Iaconi said. “Our intent is to continue to have dialogue with the tenants,” she said.