Dominator of the Table Tennis and Pickleball Scene, the Company will Relocate from Gaithersburg to 915 Meeting in the Highly Amenitized Pike & Rose Neighbo
Federal Realty Investment Trust (NYSE:FRT) announced today that JOOLA, the leading brand in pickleball and table tennis, committed to moving its global headquarters to 915 Meeting Street, a newly opened 276,000-square-foot trophy office building at the award-winning mixed-use development of Pike & Rose in North Bethesda, Maryland.
JOOLA is taking a total of 35,407 square feet and will move from its current location in Rockville in late 2024. Its footprint will consist of JOOLA’s corporate headquarters, its first retail space on the street level of the building between Bouboulina, a new concept from the founders of CAVA, and One Medical, completing the retail space for the new building, and its pickleball studio space.
“Pike & Rose gives us the perfect balance of city and suburban locale, a great amount of amenities within walking distance, and a wide array of commuter options,” said Richard Lee, CEO of JOOLA. “JOOLA has outgrown its current location, and this new headquarters gives us the flexibility to continue to expand our team while also opening our first concept retail location. We appreciate the support from Federal Realty, Gary Schlager and Chris Cocarro from Transwestern, and the local support from the State of Maryland and Laurie Babb from the Montgomery County Economic Development Corporation.”
JOOLA will join Choice Hotels International, Inc. (NYSE: CHH) and Sodexo at 915 Meeting. The building is now approaching 80 percent leased.
915 Meeting is a 16-story, state-of-the-art, LEED Gold-targeted building, featuring 9,600 square feet of ground floor retail, approximately 25,000-square-foot flexible floor plates and 700 dedicated parking spaces. Designed by Gensler, the building incorporates a vibrant architectural design that includes numerous amenities, such as a rooftop conference center with collaborative common areas, connectivity, a fitness center, and resource-efficient, sustainable wellness features.
Located in the rapidly emerging submarket of North Bethesda, 915 Meeting sits within the transit-oriented, LEED-ND Gold neighborhood of Pike & Rose and its more than 400,000 square feet of thoughtfully curated retail, services, dining, and entertainment offerings. The new construction follows the success of Pike & Rose’s existing office buildings, which includes tenants such as Bank of America, Industrious, JLL, One
“We are delighted to welcome JOOLA to Pike & Rose and in particular to our newest office building,” said Stuart Biel, Senior Vice President, Federal. “JOOLA’s move showcases the neighborhood as the premier office destination in Montgomery County. For companies on the search for a best-in-class, lively environment in which to grow and thrive, the neighborhood offers superior amenities and features top retail, services, entertainment, and dining destinations.”
Pike & Rose features:
- Owner-Developer-controlled 24-acre neighborhood
- Wi-Fi-enabled neighborhood, including Rose Park, outdoor cafés, and patios
- Awarded LEED Gold for Neighborhood Development (LEED ND) by the U.S. Green Building Council, highlighting its sustainability and connectivity
- Ranked #1 by GRESB among U.S. Publicly Listed Retail Centers
- Home to The Farm at Pike & Rose, the mid-Atlantic’s largest soil-based rooftop farm at 17,000 square feet, producing a wide range of fruits and vegetables
- Features more than 20 restaurants, ranging from fine dining to fast casual, alongside shops, a fitness center, a dog bar, and a weekly farmers market
Federal was represented by Bernie McCarthy and Danny Sheridan from JLL and JOOLA was represented by Gary Schlager and Chris Cocarro from Transwestern.
About JOOLA:
Established in Germany in 1952, JOOLA has been the champions choice for table tennis equipment worldwide, most notably as the official equipment of the 1996 Atlanta, 2000 Sydney, and 2004 Athens Olympic Games. In 2019, led by CEO Richard Lee, Sport Squad, Inc., the US-based Americas distributor announced its acquisition of JOOLA Tischtennis GmbH and moved its headquarters to Rockville, Maryland. In 2022, JOOLA entered pickleball and immediately took the sport by storm as the sponsor of pickleball world #1 Ben Johns, also a Montgomery County, Maryland native. JOOLA has offices in Germany, Australia, Canada, China, Brazil, Taiwan, Japan, and India and distributes to over 200 countries worldwide.
About Pike & Rose, a Federal neighborhood
Pike & Rose is a 24-acre, transit-oriented neighborhood including more than 50 tenants of thoughtfully merchandised retail space. The selection of restaurants (including Summer House Santa Monica, Fogo de Chao, &pizza, sweetgreen and Julii), retailers (including REI, Sephora, L.L.Bean and Sur La Table, Uniqlo), a state-of-the-art Porsche dealership, and unique entertainment offerings (iPic Theaters, Pinstripes and AMP by Strathmore) have created a one-of-a-kind retail environment. The neighborhood is fully enhanced by the offerings of 99 luxury condominiums and penthouses uniquely positioned above Canopy by Hilton, a 177-key boutique hotel; 765 luxury apartments; and a 17,000-square-foot rooftop farm.
About Federal Realty Investment Trust
Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty’s mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty’s 102 properties include approximately 3,300 tenants, in 26 million commercial square feet, and approximately 3,100 residential units.
Federal Realty has increased its quarterly dividends to its shareholders for 56 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.federalrealty.com.
