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KLNB’s Maryland Landlord Team has completed three new industrial leases at Montrose Shopping Center, a 119,378-square-foot retail property located at 5520-5636 Randolph Road in Rockville, Maryland. The leasing effort was led by Principal Ken Fellows and Associate Keiry Martinez, who focused on the flex portion of the asset.
The recent activity brings the flex space at the shopping center to 100% occupancy. According to KLNB, this fully leased status follows three strategic transactions totaling 8,608 square feet, reflecting a mix of service, building materials, and health-focused tenants.
American Cedar & Millwork, an architectural building materials dealer, committed to a 4,208-square-foot lease at the property. The company is expected to use the space to support its building materials operations, leveraging the flex configuration of the center. The lease adds a trade-oriented user to the tenant roster.
Corolla Beauty signed a 2,200-square-foot lease at Montrose Shopping Center. The new commitment introduces a beauty-focused user to the property, adding to the variety of services and offerings available to visitors and area customers.
In addition, Neural Movement, a fitness and rehabilitation facility, will occupy 2,200 square feet. The lease brings a health and wellness component to the flex space, further diversifying the types of tenants operating at the center.
Montrose Shopping Center is described as a retail destination anchored by MOM’s Organic Market. The center benefits from a location just off Rockville Pike, identified in the report as one of the region’s busiest corridors. This positioning adds visibility and access for tenants across both the retail and flex components of the property.
Reflecting on the leasing effort, Martinez noted that the team’s deep understanding of the industrial market informed its approach to the assignments. She indicated that KLNB relied on data-focused insights to guide recommendations and support the client’s decision-making process as the leases were negotiated and executed.
With these three leases in place, the flex portion of Montrose Shopping Center is fully occupied, while the broader center continues to operate as a retail-focused asset anchored by a grocer. The combination of an established anchor tenant and a fully leased flex component underscores the center’s current leasing status as reported.
The post KLNB Secures Trio of Flex Leases, Brings Montrose Shopping Center in Rockville to Full Occupancy appeared first on CRE Market Beat.
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