MCB Real Estate Secures Costco Wholesale as First Anchor at Viva White Oak

Retailer Will Operate 162,000 Square Feet of Space at 280-Acre Development

BALTIMORE – Today, MCB Real Estate announced a new Costco Wholesale location for VIVA White Oak (VWO) in Montgomery County, Maryland. This 162,000 square foot landmark deal marks the first official anchor for the 280-acre mixed-use district.

Costco’s commitment demonstrates the appeal of VIVA White Oak for premier retail tenants. The new warehouse will be the fourth Costco location within a 10-mile radius of the site, underscoring the brand’s confidence in the region’s long-term economic growth and substantial consumer demand.

“VIVA White Oak is positioned to become the region’s premier retail destination, anchored by brands that move markets” said MCB Principal Drew Gorman. “This announcement shows that national retailers and regional anchors, and high performing restaurants know the value of this location and that this project is a smart investment for long-term value.”

The 280-acre VWO site is approved for more than 12 million square feet of mixed-use development, located adjacent to the U.S. Food and Drug Administration (FDA) headquarters and the Adventist HealthCare White Oak Medical Center. The site offers direct access to US-29 and Cherry Hill Road, providing strong regional connectivity.

MCB has spent the last two and a half years collaborating with community leaders and public officials to revitalize the long dormant site into a massive economic engine for the County and the region. The project is expected to generate more than 17,000 construction jobs, 9,000 permanent jobs, and an estimated $62 million in annual revenue for Montgomery County. The first phase alone will generate $1.2 billion in value and $33 million in annual revenue.

Last week, the Montgomery County Council unanimously approved the first-ever Tax Increment Financing (TIF) district to advance the transformative development in East Montgomery County.

An independent analysis performed by MuniCap determined that VWO will have a total assessed value of $2.8 billion upon completion, including nearly 5,000 homes, both apartments and for-sale units, along with new retail, hotel, and medical office space. The plan also reserves land for a new elementary school, active parks, bike lanes, community trails through protected forest, and provides a programmed, 1-acre town square that will be the beating heart of the community.

About MCB Real Estate

Founded in 2007, MCB Real Estate is a community-centric, privately held national commercial real estate investment management and development firm headquartered in Baltimore, Maryland. MCB boasts a nationwide portfolio of $4 billion in assets under management totaling approximately 22 million square feet with more than six million square feet in its development pipeline. Property types include industrial, office, retail, mixed-use, multi-family and life sciences. The firm offers a seamlessly integrated suite of commercial real estate investment services, including acquisitions, development, construction, asset management, property management, leasing, marketing, financing and legal expertise, thus ensuring comprehensive support throughout every stage of an asset’s lifecycle. For more information, please visit: www.mcbrealestate.com

About VIVA White Oak

VIVA White Oak is a generational mixed-use development in East Montgomery County, Maryland being developed by MCB Real Estate. Spanning 280 acres along FDA Boulevard, the master-planned district integrates up to 12.1-million square-feet of innovation, research, residential, and retail space with direct access to the FDA and strong regional connectivity via I-495, I-95, and planned Bus Rapid Transit. For more information, visit vivawhiteoak.com.