Randolph-Montrose Shopping Center is a 93,324 square foot retail building. Constructed in 1972 the building sits on 2.98 acres and offers 164 surfaced parking spaces. Immediately situated off of Rockville Pike (MD 355), the Randolph-Montrose Shopping Center is strategically located in one of the premier retail corridors in the region. Commonly known as "the Pike", the heavily trafficked north-south boulevard carries nearly 60,000 cars/day and is quickly accessible from the entire metropolitan region via I-495 and I-270, both less than 5 miles away. Further, North Bethesda is among the most desirable communities in Suburban Washington with a 5-mile average household income of over $100,000 and a population of over 300,000. The also lies within the heart of Montgomery County, the State of Maryland's most populous jurisdiction property and one of the United States' top 50 fastest growing jurisdictions.
The area immediately surrounding the Randolph-Montrose Shopping Center is undergoing a rapid transformation that will bring thousands of new commuters, residents, and visitors to its doorstep. Among the most noteworthy of these new developments is the recently completed Bethesda North Conference Center & Marriott Hotel and the newly-arriving luxury high-rise condominium complexes The Gallery at White Flint Place and Sterling at the Metro, both within walking distance of the property. Perhaps the most significant of all the surrounding developments is the 32-acre North Bethesda Town Center, a $650 million mixed-use, transit-oriented village center surrounding the nearby White Flint Metro Station.
The highly affluent North Bethesda/Rockville submarket is conveniently bordered by the region's two major interstates I-495 on the south and I-270 on the west and has naturally become a center of commerce and residence for Suburban Maryland and the greater metropolitan region. The submarket is largely defined by its major north-south boulevard, Rockville Pike (MD Rt. 355), which makes up the primary corridor between northwest Washington, D.C., the City of Rockville, and points northward. The bustling Rockville Pike Corridor contains over 5 million square feet of retail development, ranging from small, unanchored strip centers to a super regional mall of 800,000 square feet. Combined with 10 million square feet of office inventory, there is over 15 million square feet of commercial development in this submarket.
