{"id":1004789985,"date":"2026-03-03T04:24:58","date_gmt":"2026-03-03T12:24:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004789985"},"modified":"2026-03-03T04:34:24","modified_gmt":"2026-03-03T12:34:24","slug":"costco-to-anchor-2-8b-megaproject","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/costco-to-anchor-2-8b-megaproject\/","title":{"rendered":"Costco to Anchor $2.8B Megaproject"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a0745252961d&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"900\" data-attachment-id=\"1004789996\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/costco-to-anchor-2-8b-megaproject\/bct_viva_masterplan_final-20-5x-1-1600x900\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/BCT_VIVA_Masterplan_final-2@0.5x-1-1600x900-1.jpg\" data-orig-size=\"1200,900\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"BCT_VIVA_Masterplan_final-2@0.5x-1-1600&#215;900\" data-image-description=\"&lt;p&gt;Image taken from MCB&#8217;s press release here: https:\/\/mcbrealestate.com\/mcb-real-estate-praises-montgomery-county-council-for-passage-of-first-ever-tif-to-support-viva-white-oak\/&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;VIVA White Oak is set to include 3 million square feet of commercial space in addition to 5,000 residential units. Rendering courtesy of MCB Real Estate&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/BCT_VIVA_Masterplan_final-2@0.5x-1-1600x900-1.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/BCT_VIVA_Masterplan_final-2@0.5x-1-1600x900-1.jpg\" alt=\"Aerial rendering depicting VIVA White Oak in Montgomery County, Md.\" class=\"wp-image-1004789996\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/BCT_VIVA_Masterplan_final-2@0.5x-1-1600x900-1.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/BCT_VIVA_Masterplan_final-2@0.5x-1-1600x900-1.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/BCT_VIVA_Masterplan_final-2@0.5x-1-1600x900-1.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/BCT_VIVA_Masterplan_final-2@0.5x-1-1600x900-1.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">VIVA White Oak is set to include 3 million square feet of commercial space in addition to 5,000 residential units. <em>Rendering courtesy of MCB Real Estate<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>MCB Real Estate has secured a 162,000-square-foot commitment from Costco at its $2.8 billion, mixed-use development in Silver Spring, Md., dubbed VIVA White Oak. <\/p>\n\n\n\n<p>The retailer will be the first anchor tenant at the 280-acre project. In addition, the new store will be Costco\u2019s fourth within a 10-mile radius and its 12th across the entire state of Maryland.<\/p>\n\n\n\n<p>The VIVA White Oak project initially received approval for up to 12 million square feet of mixed-use space. However, current plans include the construction of 3 million square feet of retail, office and life science space, as well as 5,000 residential units.<\/p>\n\n\n\n<p>VIVA White Oak obtained the support of the Montgomery County Council, which passed a Tax Increment Financing deal for the project just last week. It was the very first such resolution reached by the local authority.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/mcbs-on-a-mission-for-development-success\/\">MCB\u2019s on a Mission for Development Success<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Under the terms of this agreement, the county will divert capital to fund new public infrastructure, roads and public spaces. And this summer, the council will convene again to consider a potential bond issuance.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/12-msf-mixed-use-project-moves-forward\/\">MCB became involved in the project<\/a> in 2024, when it took over the development from Global LifeSci. The Percontee Inc. affiliate, which set VIVA White Oak into motion more than a decade ago, retained a minority stake in the project.<\/p>\n\n\n\n<p>The development is set to rise some 12 miles northeast of downtown Washington, D.C., next to the U.S. Food and Drug Administration headquarters. Thoroughfares such as interstates 495, 95 and U.S. Route 29 run approximately 5 miles away.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-d-c-retail-rates-go-up-vacancy-softens\">D.C. retail rates go up, vacancy softens<\/h2>\n\n\n\n<p>The average U.S. vacancy rate reached 5.7 percent in the fourth quarter of 2025, up 40 basis points year-over-year, according to a <a href=\"https:\/\/www.cushmanwakefield.com\/en\/united-states\/insights\/us-marketbeats\/us-shopping-center-marketbeat-report\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Cushman &amp; Wakefield report<\/a>. However, the figure was below the pre-pandemic rate of approximately 7 percent.<\/p>\n\n\n\n<p>Meanwhile, Washington, D.C.\u2019s market partly mirrored these broader national <a href=\"https:\/\/www.commercialsearch.com\/news\/retail-market-trends\/\">retail trends<\/a>, its vacancy rate also increasing 40 basis points during the same period, the report shows. Still, the metro surpassed the national average, the index clocking in at 4.6 percent in December.<\/p>\n\n\n\n<p>D.C.\u2019s retail rent averaged $35.2 per square foot in Q4, marking a 4.2 percent annual growth, Cushman &amp; Wakefield\u2019s data reveals. Both metrics outperformed the national average of $25.3 per square foot, up 1.9 percent year-over-year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The retail company is on track to reach a dozen locations in Maryland.<\/p>\n","protected":false},"author":3471,"featured_media":1004789996,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,11,21742,21749,1615],"tags":[33906,49291],"class_list":["post-1004789985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-midatlantic","category-latest","category-retail","category-washington-dc","tag-costco","tag-mcb-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Costco to Anchor $2.8B Megaproject - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"MCB Real Estate signed Costco as anchor tenant at VIVA White Oak, a $2.8 billion mixed-use development in Montgomery County, Md.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/costco-to-anchor-2-8b-megaproject\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Costco to Anchor $2.8B Megaproject\" \/>\n<meta property=\"og:description\" content=\"MCB Real Estate signed Costco as anchor tenant at VIVA White Oak, a $2.8 billion mixed-use development in Montgomery County, Md.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/costco-to-anchor-2-8b-megaproject\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2026-03-03T12:24:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-03-03T12:34:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/BCT_VIVA_Masterplan_final-2@0.5x-1-1600x900-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Claudiu Tiganescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/costco-to-anchor-2-8b-megaproject\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/costco-to-anchor-2-8b-megaproject\/\",\"name\":\"Costco to Anchor $2.8B Megaproject - 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