RPAI Announces Development Plans At Carillon, Its Mixed-Use Development Project In Prince George's County, Maryland

Rhea-AI Summary

Retail Properties of America, Inc. (NYSE: RPAI) announced plans to commence construction on The Ella, a 125,000 square foot medical office building at its Carillon mixed-use development in Largo, Maryland, in the second half of 2021. This Class-A facility will enhance healthcare access for an underserved population, alongside the University of Maryland Capital Region Medical Center. The development aims to meet increasing demand for medical office space and is expected to attract prospective tenants. RPAI emphasizes local partnerships through its Supplier Diversity Program.

Positive

• Commencement of construction on The Ella, a 125,000 sq. ft. medical office building.
• Strategically located near the University of Maryland Capital Region Medical Center.
• Increased demand for medical office space, indicating strong market interest.
• Active negotiations with prospective tenants to ensure occupancy.

Negative

• None.

OAK BROOK, Ill., June 7, 2021 /PRNewswire/ -- Retail Properties of America, Inc. (NYSE: RPAI) (the "Company") today announced that it is planning on commencing construction on the first building at Carillon, its mixed-use development located in Largo, Maryland. Construction on The Ella, a 125,000 square foot medical office building, will begin in the second half of 2021. The Ella is a Class-A medical office building that will be developed with a patient-centered design and efficiency optimization focus, while benefiting from direct adjacency to the state-of-the-art University of Maryland Capital Region Medical Center.

The Ella will be located approximately 300 feet from the University of Maryland Capital Region Medical Center's entrance and will offer walkable access to the Largo Town Center Metro Blue and Silver lines, on-site surface parking, and easy access to the Capital Beltway. The increase in demand for medical office space has generated significant interest in the project, and the Company is in active negotiations with prospective tenants.

"The Ella at Carillon will offer healthcare providers unparalleled access to an underserved patient population in a market with a shortage of outpatient care facilities," stated Craig Friedson, assistant vice president, development at RPAI. "The Ella marks the first vertical development at Carillon, which will build on the momentum of the University of Maryland Capital Region Medical Center's opening and the vision of making Largo the heart of Prince George's County."

RPAI is committed to its Supplier Diversity Program that provides qualified and certified local, small, and minority businesses equal access to partnership opportunities to support the development and believes local partnerships are essential to enhancing the communities we operate. To submit your business or learn more information on The Ella at Carillon, visit www.ExperienceCarillon.com or connect socially via Facebook or Instagram.

ABOUT RPAI 
Retail Properties of America, Inc. is a REIT that owns and operates high quality, strategically located open-air shopping centers, including properties with a mixed-use component. As of March 31, 2021, the Company owned 102 retail operating properties in the United States representing 19.9 million square feet. The Company is publicly traded on the New York Stock Exchange under the ticker symbol RPAI. Additional information about the Company is available at www.rpai.com.

RPAI MEDIA CONTACT 
Tim O'Connell 
VP, Corporate Communications & Sustainability 
630.634.4294 | TOConnell@rpai.com

 

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SOURCE Retail Properties of America, Inc.

FAQ

What is RPAI planning to construct in Largo, Maryland?

RPAI is planning to construct The Ella, a 125,000 square foot medical office building.

When will construction of The Ella begin?

Construction of The Ella is set to begin in the second half of 2021.

How will The Ella benefit the local healthcare access?

The Ella will provide healthcare providers with access to an underserved patient population in a market that lacks outpatient care facilities.

Where is The Ella located in relation to public transportation?

The Ella will offer walkable access to the Largo Town Center Metro Blue and Silver lines.

What program does RPAI have for local partnerships?

RPAI has a Supplier Diversity Program to support qualified local, small, and minority businesses.