Armory Square Breaks Ground in Prince Frederick
MCB Real Estate, an institutional commercial real estate investment management firm with nationwide holdings, is proud to announce the official groundbreaking for Armory Square. Located at 429 Solomons Island Rd. in Prince Frederick, Maryland, the highly anticipated 110,000-square-foot shopping center will be anchored by ALDI, Michaels, and Sneade’s Ace Home Center and offer dining, retail, convenience, and service retail.
The 12.5-acre project is one of several successful partnerships between MCB and Generation Properties, a Calvert County-based commercial property management and development company. In May of 2024 the partnership announced the ground breaking on The Shops at Fairway Village in Waldorf, Maryland, a $115 million mixed-use development.
Situated in affluent Calvert County, Armory Square will be built on the former site of Calvert Middle School and in addition to the anchors, will feature more than a dozen local and national retailers once fully leased. To date, 10 retailers have committed to leases, including Dash-In, First Watch, Jersey Mike’s, Hangry Joe’s, Always Ice Cream, Foster’s Grille, and Quickway Hibachi.
As a growing bedroom community for Washington, D.C., Prince Frederick offers an exceptional consumer profile for retailers. There are over 64,000 residents in a 10-mile radius with an average household income of nearly $170,000. Household retail expenditures in the surrounding area were an estimated $1.08 billion in 2023, the most recent assessment.
The proximity to such a desirable consumer base is not the only coveted feature of Armory Square. Calvert County’s commercial and development zoning laws concentrate commercial properties to designated “Town Centers”. Only Dunkirk, Prince Frederick and the Lusby/Solomon’s Town Centers permit commercial developments of more than 25,000 square feet. As MCB Principal Drew Gorman explains, these zoning restrictions are actually an asset for the County and for Armory Square’s future.
“Prince Frederick’s zoning regulations and approval protocols, which include architectural approvals, allow us to develop a well-designed and amenity-filled retail shopping center in Calvert County,” says Gorman. “Because of the high barrier to new development opportunities and the north, central and south positioning of the County’s Town Centers , this area consistently maintains superior occupancy rates with strong retail sales performance. This makes Calvert County in general, and Armory Square specifically, a solid and reliable investment for many years to come.”
MCB’s development partner on the project, Generation Properties,is known throughout the region for having a steadfast commitment to the community. Armory Square is the latest in several developments Generation has delivered that showcase the company’s devotion to thoughtful growth that has a positive impact across the region. Other properties include the 101,000 square-foot Shoppes at Apple Green in Dunkirk, Maryland, and Market Square, 31-acre mixed-use development in Prince Frederick, Maryland.
“We’re dedicated to creating exceptional spaces within this vibrant community,” says Generation Properties’ Rick Bailey. “With a legacy of excellence spanning several decades in Southern Maryland, we’re thrilled to introduce Armory Square, a retail opportunity that showcasing quality and dynamic tenancy that will support the people who call Prince Frederick their home.”
Armory Square also occupies a strategic physical location in Calvert County, centrally located within the northeast quadrant of MD Routes 2 and 4 and Dares Beach Road, with an Average Daily Traffic (ADT) rate of more than 44,000 drivers. Armory Square is less than one mile from Calvert County Municipal Government offices and courts, Calvert Memorial Hospital and only three miles from the College of Southern Maryland, Prince Frederick Campus.