Petrie Richardson Ventures (PRV) and Rockwood Capital, the owner developers of Ellsworth Place retail center in downtown Silver Spring, announced today that MetroPCS has opened on Level 3 of the retail property.
MetroPCS, the flagship prepaid brand of T-Mobile US, Inc., is a leading provider of unlimited data, talk, and text plans with taxes and regulatory fees included, and offers the freedom and convenience of an affordable, no-contract wireless service that rides on the 4G LTE T-Mobile network.
“MetroPCS brings a lot of exciting energy to Ellsworth Place, starting with their grand opening celebration,” said Terry Richardson, president and COO of PRV. “As a national retailer, MetroPCS has demonstrated they know how to provide service to their customers. We’re looking forward to them extending these services to the shoppers at Ellsworth Place.”
The Grand Opening celebration kicks off today with a ribbon-cutting ceremony and refreshments lasting until 10:00 am. On Saturday, MetroPCS will be hosting local radio station WPGC and offering music, games, face painting and grand prize giveaways from 10:00 am until 2:00pm. The festive weekend will conclude on Sunday with a visit from the team at El Zol from 11:00 am through 2:00pm.
Current anchor tenants at Ellsworth Place include Burlington, Marshalls, Michaels, Ross, Dave & Busters and T.J.Maxx. Recently opened stores include Guitar Center, Auntie Anne’s, and MetroPCS.
Over the next 20 years, Ellsworth Place is projected to generate approximately $38.4 million in tax revenues for Montgomery County and to support 807 permanent FTE jobs in the County. On a statewide level, Ellsworth Place is projected to generate $175 million in state tax revenues and support 881 permanent jobs, inclusive of those in Montgomery County.
About Ellsworth Place
Ellsworth Place is a 350,000-square-foot retail center located in the heart of the award winning revitalized Silver Spring, MD, and anchored by Burlington, Michaels, Ross and T.J.Maxx. Petrie Richardson Ventures acquired ownership and management of the former City Place Mall in 2012, in a joint venture with Rockwood Capital, and invested in extensive renovations of both the exterior and interior, including improvements to access, common areas, existing tenants and new tenants within a refreshed industrial chic interior architecture. For more information, visit www.ellsworthplace.com.
About Petrie Richardson Ventures
Petrie Richardson Ventures (PRV) is a retail developer in the Mid-Atlantic region with a national reputation for creating successful retail centers and exciting mixed-use properties. PRV currently owns and operates Ellsworth Place in Silver Spring, MD, and Woodmore Towne Center in Glenarden, MD. For more information, visit www.petrierichardson.com.
About Rockwood Capital
Rockwood Capital is a real estate investment firm with offices in New York, NY, San Francisco, CA, Los Angeles, CA and Seoul, Korea. Rockwood provides debt and equity capital for core, core-plus, value-add and special situation real estate investment opportunities. Rockwood Capital manages $8.6 billion in real estate on behalf of over 100 public and private pension plans; endowments; foundations; insurance companies, and high net-worth families and individuals. For more information, visit www.rockwoodcap.com.
