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January 5, 2021 Comments Off on Cleveland Park Retail Center Trades for $39M Views: 562 D.C. News, Top Washington, D.C., Washington, D.C. News

Cleveland Park Retail Center Trades for $39M

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JLL has arranged the $39 million sale of Sam’s Park & Shop, a fully-leased, 50,355-square-foot retail center anchored by an urban-format Target store in Washington D.C.’s Cleveland Park.

Built in 1931, the center is a designated Historic Landmark, as it was one of the first retail centers designed around the automobile. The center, which is located at 3501-3529 Connecticut Ave., is currently anchored by a new, urban-format Target store. The property is also home to a mix of credit tenants alongside local food and service-based retailers. Additionally, the center includes 50 surface parking spaces.

Susan Carras, Bill Moylan, Jordan Lex and Danny Naughton of JLL represented the seller, Federal Realty Investment Trust, in the transaction. Asana Partners acquired the property.

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