JBG ROSENFELD RETAIL INKS DEAL FOR NEARLY 57,000 SF IN TYSONS
Chevy Chase, Maryland– Shopping center leasing, management, and development company JBG Rosenfeld Retail (JBGR) recently finalized a deal with domestics and home furnishings retailer Bed Bath & Beyond (NASDAQ: BBBY) for a 56,500 square-foot space in Vienna, Virginia. The property, located at 2051 Chain Bridge Road in the heart of the Tysons Corner area, formerly was home to Linens ‘N Things and World Market, which both shuttered in early 2009. Bed Bath & Beyond will relocate its current retail operations in Tysons to the new, larger space during the fourth quarter of this year.
“This is a prime location for Bed Bath & Beyond,” said JBGR Executive Vice President Bob Schwenger, “providing the retailer with greater visibility and space in a very busy corridor. We are pleased that they selected our property for their expansion in Tysons, and are confident they will find success here.” The new store is larger than a typical Bed Bath & Beyond, which generally range in size from 20,000 to 50,000 square feet.
The retail building, which has been in the JBGR portfolio since 1999 when the company gained control of 10 former Hechinger locations in Maryland, Virginia, and Pennsylvania, is located on a 4.5-acre parcel at the intersection of Routes 123 and 7, and boasts nearly 250 parking spaces. Schwenger and Vice President Jay Klug represented JBGR in the deal, while Les Sax of Sax Realty in Bethesda represented Bed Bath & Beyond.
Founded in 1971, Bed Bath & Beyond is a chain of retail stores in the United States and Canada, which sells a wide assortment of domestics merchandise and home furnishings, as well as food, giftware, health and beauty care items, and infant and toddler merchandise. As of May 2010, there were 967 Bed Bath & Beyond stores in 49 states, the District of Columbia, Puerto Rico and Canada, including more than 20 in the greater Washington, DC area.
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 more than 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.