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Lakeforest 701 Russell Ave 1,000 - 342,975 SF of Retail Space Available in Gaithersburg, MD 20877
Space Availability (4)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 1,000-127,975 SF | Negotiable | Upon Request Upon Request Upon Request Upon Request | TBD | ||
| 1st Floor | 1,000-50,000 SF | Negotiable | Upon Request Upon Request Upon Request Upon Request | TBD | ||
| 1st Floor | 1,000-65,000 SF | 5 Years | Upon Request Upon Request Upon Request Upon Request | TBD | ||
| 1st Floor | 1,000-100,000 SF | Negotiable | Upon Request Upon Request Upon Request Upon Request | TBD |
701 Russell Ave - 1st Floor
Proposed Retail
- Space is in Excellent Condition
- Mixed use planned community
- New redevelopment
701 Russell Ave - 1st Floor
Proposed Retail
- Space is in Excellent Condition
- Mixed use planned community
- New redevelopment
701 Russell Ave - 1st Floor
Proposed Retail
- Space is in Excellent Condition
- Mixed use planned community
- New redevelopment
701 Russell Ave - 1st Floor
Ground lease pads available
- Space is in Excellent Condition
- Mixed use planned community
- New redevelopment
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
Select Tenants at Lakeforest
- Home Depot
- Landmark Theatres
- Sprouts Market
Property Facts
| Total Space Available | 342,975 SF | Frontage | 2,840’ on Montgomery Village Ave |
| Min. Divisible | 1,000 SF | Gross Leasable Area | 374,500 SF |
| Center Type | Community Center | Total Land Area | 28.06 AC |
| Parking | 200 Spaces | Year Built | 2028 |
| Center Properties | 6 |
| Total Space Available | 342,975 SF |
| Min. Divisible | 1,000 SF |
| Center Type | Community Center |
| Parking | 200 Spaces |
| Center Properties | 6 |
| Frontage | 2,840’ on Montgomery Village Ave |
| Gross Leasable Area | 374,500 SF |
| Total Land Area | 28.06 AC |
| Year Built | 2028 |
About the Property
Under construction for 2028 delivery, the former Lakeforest Mall, located on a 102-acre site at 701 Russell Ave., Gaithersburg, MD; is being redeveloped into a $1.2 billion mixed-use, live-work-play community. This will include 3.6 million square feet of new uses to replace the existing 1 million-square-foot mall plus parking lots. The reimagined Lakeforest will include approximately 1,600 residential units, both multifamily rentals and for-sale, 750,000 square feet of new life science-related commercial space — office, research and development, light manufacturing — and 470,000 square feet of new retail. A fiscal and economic impact analysis projects the redevelopment will generate an estimated $2.7 million in annual revenues for the city and provide $1.7 billion in annual economic output at full buildout.
Nearby Major Retailers
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Lakeforest | 701 Russell Ave
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