$100-Mil Pentagon Row Urban Community Debuts

ARLINGTON, VA-Federal Realty Investment Trust officially opens its new Pentagon Row “urban neighborhood” with a dedication ceremony and a community celebration for the presentation of the 300,000-sf mixed-use complex. Rockville, MD-based Federal Realty and partner Post Properties of Atlanta, Georgia are behind the $100-million project.

Area residents and press alike turned out for the event on an unseasonably warm November Saturday. “The event was very well attended,” says Federal’s vice president of real estate development Robin Mosle. “We were delighted with the turnout [and] the response from people in the neighborhood was overwhelming.”

Located on an 18.5-acre parcel of land across from the Potomac River, Pentagon Row is comprised of street-level retail outlets and restaurants below 500 mid-rise apartment dwellings. Tenants such as grocery store Harris Teeter, Bally Total Fitness, and Bed, Bath & Beyond occupy part of the retail space. Home furnishings retailer Cost Plus World Market occupies 16,000 sf. There are also two floors of parking spaces beneath the shops.

The complex is designed to serve as an all around neighborhood center, complete with a plaza and full-size ice skating rink. On the retail front, there will be competition for shoppers from nearby Fashion Centre at Pentagon City, where there are more than 160 shops–many of which are upscale–two department stores, and a Ritz-Carlton Hotel. Pentagon Row, however, is not completely finished. Three of the four buildings and the retail plaza are complete. The fourth structure is expected to be completed in spring 2002 and will feature space for 15 stores and the remaining 145 apartments.