Divaris Real Estate Solutions for Leisureworld

photo of Leisureworld Plaza and Professional Building in Silver Spring, MD

Leisureworld Plaza & Professional Building,
Silver Spring, MD, Upscale,110,000-square-foot center anchored by a Giant grocery store and 56,000 square feet of office space.

Leisureworld Plaza Serves More Than Seniors

HISTORY

Leisure World of Maryland, a private, age-restricted, gated community sitting on 610 acres in Montgomery County, offers amenities that include an 18-hole golf course, two clubhouses, indoor and outdoor swimming pools, tennis courts, dining facilities, bus transportation, a medical center and pharmacy. Situated around the perimeter of Leisure World, the largest senior community in the D.C. metropolitan area, lies the Divaris-leased and –managed Leisureworld Plaza Shopping Center and Professional Building located at 3801 International Drive in Silver Spring, Md. The landlord of the properties is Rossmoor IDI Commercial.

IDI Group Companies, developers of the largest and most successful communities in the D.C. area, built into the master plan to develop a shopping center in the area. Leisureworld Plaza is the perfect complement to Leisure World. The fact that it was built right on campus is a bonus, providing an amenity to better market the housing project as well as to serve the entire community.

Leisureworld Plaza is one of the premier properties in its market. The center serves Leisure World and its 7,500 senior residents as well as upper Silver Spring, Rockville and Olney, Maryland — all upper-middle class areas. The upscale center offers customers everything from medical services to grocery shopping to casual dining.

SCOPE OF ASSIGNMENT

Leisureworld Plaza and Professional Building are comprised of 110,513 square feet of retail space and 56,294 square feet of office space, situated adjacent to Leisure World of Maryland. Tenants in the shopping center include Burger King, Chevy Chase Bank, Giant and Starbucks. Office building tenants include: Community Radiology and Sandy Spring National Bank.

Anchored by a 55,000-square-foot Giant grocery store, Leisureworld Plaza also has such notable tenants as Honeybaked Ham, Weichert Realty and GNC. Additional services include a dry cleaner, shoe store, jewelry/gift store, and several restaurants. The center houses a total of five banks and a post office.

A 33,600-square-foot professional building with an outpatient surgical center, doctors’ offices, x-ray imaging center and a bank completes the mix.

About 50 percent of the center’s business is from Leisure World’s residents, and the other half is from the surrounding neighborhoods, which include a growing mix of upscale, single-family homes, condominiums and townhomes. As the community grows, so does Leisureworld Plaza.

RESULTS

One of Leisureworld Plaza’s best features is the landscaping. Dreyfuss, the owners insist that the property is always well maintained because it must reflect the standards of the Leisure World community. Large beds of seasonal and perennial flowers adorn entrances. Clean, well-lit parking and sidewalk areas are bordered by manicured plantings of evergreens, ornamentals and ground covers.

The beautiful décor and complementary tenant assortment has consistently attracted a better group of customers to Leisureworld, therefore enabling us to achieve significantly higher rents than the other centers in the market it serves.

The complex remains at 100 percent occupancy with the renewal of leases totaling 17,324 square feet of retail and office space. The Surgery Center of Maryland LLC, an outpatient surgery center, renewed its lease for 11,524 square feet of office space in Leisure World Professional Building. Renewing leases for retail space in Leisure World Plaza were Goldcastle Jewelers, Provident Bank and the U.S. Postal Service.

Whether shopping, banking or dining, Leisureworld Plaza is a safe, friendly place to be. Leisureworld provides customers with a variety of uses. It’s the perfect tenant mix to accommodate people of all ages.