Washington Property Company (WPC) has leased half of its retail building at 4507 Stanford Street in downtown Bethesda, MD to Righttime Medical Care, which plans to open in this summer. Righttime will occupy 5,550 square feet on the first floor of the two-story building. The upstairs space is leased to C-Unit Dance Studio.
Righttime provides walk-in medical treatment for common illnesses and minor injuries every day of the year, including nights, weekends, and holidays. The Stanford Street location will be Righttime’s 16th facility in Maryland.
WPC acquired the 11,100 square foot building, along with its surface parking lot, in July of 2017 for $4.46 million. The seller was Mark Keshishian and Sons, which had operated a family-owned antique and modern rug sales business at the site for nearly 50 years. Keshishian has relocated to Rockville, MD.
“We acquired this building to grow our retail holdings in downtown Bethesda,” said Joshua Gurland, WPC Vice President. “This is a great location just off Wisconsin Avenue, and across Stanford Street from the complex housing Target, Trader Joe’s, and other businesses.”
Kirk Cheney of KLNB represented Righttime in the lease transaction, while Lee Engle of Streetsense and WPC’s Gurland represented the owner.
WPC owns the nearby Bethesda Corner, a 62,000 SF collection of well-known shops at 7008-7034 Wisconsin Avenue. Just across Woodmont Avenue from Bethesda Corner, on the street level of WPC’s Solaire Bethesda luxury apartment community, True Food Kitchen has garnered a large following and top reviews from local restaurant critics.
Washington Property Company (www.washproperty.com) is a full-service commercial real estate company located in Bethesda, Maryland. Established by Charles K. Nulsen, III, WPC is involved in a full range of real estate investment services including acquisition, land use, development, property management, leasing, and construction management. WPC has developed more than eight million square feet of commercial space in the Washington, DC metropolitan area and currently has over 1.6 million residential square feet under development. WPC is actively pursuing office, multi-family, retail, and mixed-use development opportunities throughout the region. Through its management company, WPC Management, LLC, Washington Property Company manages over 1.8 million square feet of commercial space.