RETAILS NEWS

CHEVY CHASE, MARYLAND – Obtaining office and school supplies will get “easier” for the residents and professionals in Alexandria later this summer when Staples opens a new 24,000 square-foot store at Alexandria Commons. The office supplier, which committed to the space left vacant by Mastercraft Interiors in the wake of their bankruptcy, boosts the shopping center to 97% occupancy, and will be the first location for the retailer on the south side of the city. Shopping center leasing, management, and development company JBG Rosenfeld Retail (JBGR), which leases and manages the property for Steuart Investment Company, entered into discussions with Staples shortly after Mastercraft filed for bankruptcy last year.

“Alexandria Commons is a prime location for a concept like Staples,” said JBGR Principal Jim Garibaldi, “especially given the center’s proximity to a number of large office complexes, schools, and, of course, the surrounding neighborhoods. We are pleased that the company selected Alexandria Commons for its newest store in the city, and are confident it will find success at the center.”  Currently, there is only one Staples in the City of Alexandria, at Potomac Yard near Arlington.

Based in Framingham, Massachusetts, Staples (Nasdaq: SPLS) is the world’s largest office products company with approximately 1,900 stores in the United States, Canada, and Europe, as well as a catalog business in 15 countries. The company, which posted revenues of $4.6 billion during the first quarter of this year, employs more than 74,000 associates. For additional information, visit www.staples.com.

Built in 1990, Alexandria Commons is a community shopping center owned by Steuart Investment Company of Chevy Chase, Maryland.  Regarded as one of the City of Alexandria’s prime retail properties, the center’s tenants include anchor Giant Food, “fresh-Mex” concept Baja Fresh, Panera Bread Company, Starbucks, and Lone Star Steak House, among others.  Alexandria Commons is located in the 3000 block of Duke Street (Route 236), just west of Telegraph Road.

Based in Chevy Chase, Maryland, JBG Rosenfeld Retail specializes in the leasing, development, acquisition, construction, and management of retail properties throughout the mid-Atlantic region.  Currently, JBGR holds 30 shopping centers, nine freestanding store sites, and numerous mixed-use retail sites in its portfolio.  For more information on the full scope of the company’s services, call (301) 657­-0700, or visit www.jbgr.com.

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