"The reason why the Mills Corp. chose to relocate to Chevy Chase Center is the amenities are there, the Metro is there, it's a brand new building, and they can control their growth," CBRE's Larry Thau tells GlobeSt.com. "It will be their building and they can put the Mills style into it, and that was very important to them." But Thau points out that the deal is not just beneficial to the property owner and the new tenant, but also to the city, as a whole. "Large corporate users will now look to the Chevy Chase market as a place to locate, whereas before, it was a very boutique market." Both Montgomery County and the State of Maryland provided financial incentives to encourage Mills Corp.'s relocation to the property. The company is expected to take occupancy of its new home sometime in the first quarter of 2006.
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