Downtown Silver Spring has signed two new tenants and a current one will change locations, Laurie Yankowski, regional director, marketing for The Peterson Cos., confirmed.
Flip’d by IHOP, a new fast-casual concept from the chain known for its signature pancakes, will take the place once filled by Asian Bistro, next to Panera at 8537 Georgia Ave.
One of the principals, Sunil Shrestha, also is president of Universolutions, LLC, a northern Virginia software developer. The company was primarily a government contractor, but has switched to a focus on restaurants and real estate.
Shrestha and other family members own 10 IHOPs in the region, and operate other franchises, including Dairy Queens, under the umbrella of NMS Holdings.
Flip’d is a new concept started by IHOP, he said, adding that something is missing from IHOP—the quick service sector.
It’s been in the works for a couple of years (Flip’d was announced in 2019) and is now being marketed. Shresthra saw it as a way to fill that missing niche.
“Its focus is mainly in the urban concept, where the foot traffic is high, where the office density is high, and where daytime and night population is high,” Shrestha said. He sees all that in the Silver Spring location.
In addition, his company has had locations on Peterson property in the past, so he was familiar with them; IHOP liked the location as well.
The Flip’d menu will include pancakes, breakfast burritos, pancake bowls with a variety of sweet and savory toppings, egg sandwiches, burgers and other sandwiches, salads and grab-and-go items, according to a company announcement. It will target day and night diners.
“It’s something different from what you see in the market right now in the quick-service sector,” Shrestha said.
The company is working with an architect now to complete plans for the restaurant, which he hopes to have done in the next 60 days or so. He will then start the county’s approval process.
“The location in Silver Spring is one of IHOP’s new Flip’d locations that we are planning to open in late 2021; additional locations will be announced later this year,” said an IHOP spokesperson. “Given the restaurant is still in the early phases of development, we will be able to share additional details closer to the opening date.”
In the meantime, Yankowski confirmed that the second new tenant would be a Sleep Number store.
The company will take over the space at 937 Ellsworth Dr., once home to New York & Company and now occupied by Washington, D.C.-based clothing retailer Xtra Ordinaire Apparel.
That store will relocate to the former Ulta space at 914 Ellsworth Dr., Yankowski said. Ulta recently moved to 8510 Fenton St.
Rendering courtesy Sunil Shrestha