Joint Venture to Develop Convenience Store, Hotel in Suburban Maryland
FREDERICK, MD. — A joint venture between Kline Associates and Stephanie Jordan Development will develop a Royal Farms convenience store and gas station, and Tru by Hilton hotel within Gateway East Plaza in Frederick. The project is situated within an Opportunity Zone, two miles east of downtown Frederick and 47 miles west of downtown Baltimore. Ryan Minnehan and Patrick Miller of KLNB represented Royal Farms in the lease and are marketing the property to retailers for six available pad site opportunities. The KLNB team is targeting sit-down restaurants, pharmacies, banks and drive-thru restaurants to join the project. Royal Farms and Tru By Hilton are the first tenants to join Gateway East Plaza. The joint venture will break ground on Royal Farms and Tru by Hilton this month with the grand opening slated for the second half of 2020. Royal Farms is based in Baltimore and operates more than 200 stores in Maryland, Delaware, Pennsylvania, New Jersey and Virginia. Tru by Hilton is a midscale hotel that was announced in January 2016. At the beginning of 2019, there were 53 locations nationwide.