EagleBank logo attached to new HQ at Bethesda Metro Center

Bethesda-based EagleBank is scheduled to consolidate its two Montgomery County offices into a single headquarters at 7500 Old Georgetown Road later this year. The bank's logo has just been applied to the top of the recently renovated office tower at the Bethesda Metro Center. Formerly known as "The Clark Building" under previous owner Clark Construction, the building is now owned by In-Rel Properties, which invested greatly in upgrades to make it more competitive in a challenging office market.

“We are excited to establish a new headquarters that strengthens our connection to the community we proudly serve,” EagleBank President and CEO Susan Riel said in a statement. “This move is more than just a relocation – it is an investment in our commitment to Maryland. As we continue to grow, our Relationships First approach will empower our teams to work together in ways that directly benefit our customers and neighbors. Our new space will be the foundation for the collaborative, community-centered growth that defines EagleBank’s future.”

“Our state-of-the-art building at 7500 Old Georgetown Road provides the ideal environment for our tenants to achieve their strategic goals in a space designed to foster collaboration,” In-Rel Properties Principal Jackson Siegal said. “We are delighted to welcome EagleBank as it continues investing in the local community, driving growth in the very market it serves.”

St. Elmo Apartments construction update (Photos)

Demolition is now complete at the future site of the St. Elmo Apartments at 4930 Fairmont Avenue in downtown Bethesda. Heavy equipment is grading the site ahead of excavation of the four-level underground parking garage, and a crane was brought in to lift what appeared to be a large section of pipe. There's also some interesting work going on at the western property line with the building next door. Signage on the perimeter fence indicates that the project being developed by Duball, LLC, Lenkin Co. and Daiwa House has received funding from Bethesda-based EagleBank.

EagleBank banner touts Mazza Gallerie redevelopment financing (Photos)

Bethesda-based EagleBank is touting its financing of the redevelopment of Mazza Gallerie by posting a large banner on the dead mall in Friendship Heights. EagleBank is providing $26 million to the mall's new owner, Tishman Speyer, to demolish the once-bustling, glitzy shopping destination and construct a mixed-use development in its place.

350 apartments and 26000 square feet of retail space will be included in the new development under the current proposal. “This transaction underscores EagleBank’s commitment to invest in our community,” EagleBank Senior Vice-President Barb Mackin said in a statement. “We’re thrilled to work with Tishman Speyer to finance such a unique and promising property.”

Signage stripped off closed EagleBank branch

Signage was removed from the facade of the old EagleBank branch at 7809 Woodmont Avenue yesterday. The removal left a lengthy gash in the Fairmont Avenue wall of the building. It will probably be repaired in the near future, because what I've heard is that the landlord will now seek a temporary tenant for the bank space, until the redevelopment of the that site and the neighboring 7-Eleven begins. One small logo on the tenant roster sign was simply flipped to the reverse, as you can see below. EagleBank has moved to 7735 Old Georgetown Road at Fairmont Avenue, only about a block away.

Police escort bank safe deposit boxes through downtown Bethesda (Video+Photos)

The relocation of EagleBank's downtown Bethesda branch created a briefly-dramatic scene in the Woodmont Triangle last Thursday afternoon. While much of the low-security items like furniture were quietly moved out of the space at 7815 Woodmont Avenue last week, on Thursday, it was time to move the safe deposit boxes to the new EagleBank location at 7735 Old Georgetown Road.

A police escort provided an armed convoy for the short move approximately a block away. Armed Montgomery County police officers stood watch as the safe deposit boxes were loaded onto a truck. The convoy then started off, driving around Veterans Park, and turning a number of heads in the process. At the new bank, parking meters out front had been bagged in advance to clear space for the entourage. The safe deposit boxes were then moved into the new branch without incident.

Safe deposit boxes are loaded onto a
truck behind EagleBank

Police cruisers line up on Fairmont Avenue
for the escort convoy

After the short trip (see video above),
the convoy arrives at the new EagleBank branch

The safe deposit boxes are wheeled into
the new EagleBank branch

Even more EagleBank signage at new Bethesda branch

EagleBank has been prospering during the pandemic, and that's certainly reflected in the company's sign budget. Yet more signage has been added to the future branch at the corner of Fairmont Avenue and Old Georgetown Road in downtown Bethesda. This window screen emphasizes the bank will open this coming spring.

ATM, more signage installed at new Bethesda EagleBank branch (Photos)

The ATM has been installed at the future EagleBank branch at 7735 Old Georgetown Road in downtown Bethesda. More signage and logo awnings have also been attached to the exterior of the bank. The branch is scheduled to open this spring.

EagleBank moving in Chevy Chase (Photos)

Just a few days after the exclusive Louis Vuitton boutique exited the Collection at Chevy Chase development, I notice that Bethesda-based EagleBank says it is planning to move its Chevy Chase branch to the Highland House at 5480 Wisconsin Avenue. The only existing EagleBank branch in Chevy Chase is at 15 Wisconsin Circle, in the Collection at Chevy Chase.

No official moving date has been given yet, but the signs at the new space say "we're moving." As you can see, there's a way to go on the interior buildout at the new location.

EagleBank BUILDING IN BETHESDA FOR SALE, TAVIRA RESTAURANT ALSO ON MARKET

A potentially prime piece of downtown Bethesda real estate is for sale. The mixed-use building at 7809 Woodmont Avenue - the primary tenant of which is EagleBank - is on the market for an asking price of $7,200,000. It has several strong points for a prospective owner.

First, in a weak office market, the relatively small building is fully-leased. Second, it is conveniently located within walking distance of Metro, and many restaurants, shops and amenities. But, most significantly, the lease of EagleBank is up in 2015. While the lease expiration date of the other 3 tenants in the building is unknown, if they are not long-term leases, 7809 represents a tremendous redevelopment opportunity. A buyer with even more patience might try to reach agreement with adjoining property owners. Such a transaction could allow a mixed-use project of at least 17 stories on the current block, and perhaps even higher under the now-underway sector plan rewrite.

Meanwhile, longtime Chevy Chase Lake restaurant Tavira is on the market, as well. In this case, it's the business that's for sale, not the building. The Portuguese and Mediterranean cuisine restaurant in the unassuming office building on Connecticut Avenue has made several area Top Restaurant lists.

Why is Tavira closing? The owner is moving out of state.