Chipotle will move from its perch within Mid-Pike Plaza next year to join Starbucks Coffee, Bank of America and other businesses that currently occupy the space, Federal Realty Investment Trust said in a news release.
The relocation and renovation of the site are the latest developments in Federal Realty's transformation of the outdated shopping center on Rockville Pike.
The Rockville-based firm unveiled plans this week to upgrade the 11,000 square-foot, freestanding retail center at the intersection of Rockville Pike and Old Georgetown Road.
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Federal Realty wants to redo the exterior, create a new pedestrian plaza with an outdoor seating area and a public gathering place, and “dramatically enhance the landscaping package,” according to a news release.
“The finished product will match the high-standards we are incorporating into every detail of Pike & Rose,” said Robin McBride, vice president, Mid-Atlantic region/chief operating officer for Federal Realty Investment Trust in the news release.
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The Pike & Rose project—named for Rockville Pike and Montrose Road—is a mixed-use development tied to the revitalization of Montgomery County’s White Flint District, which is currently clogged by bad traffic and strip malls.
Federal Realty is trying to transform the 1950s-style Mid-Pike Plaza shopping center into 3.4 million square feet of space that blends residences, shopping, entertainment and dinning.
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