July 31, 2019
Real estate investment firm First Washington Realty acquired a five-property retail portfolio in the Washington, DC metro area for $485 million. The properties total 797,984 square feet.
The 97% leased portfolio consists of two centers in Alexandria, VA and three in Maryland. The Virginia centers are Bradlee Shopping Center and Shoppes at Foxchase. The Maryland centers are Gateway Overlook in Columbia, Olney Village Center in Olney and Wheaton Park Shopping Center in Wheaton. The tenant roster at the centers includes Trader Joe’s, Aldi, Harris Teeter, Giant, The Fresh Market and H Mart, as well as Michaels, Walgreens, T.J.Maxx, Pier 1 Imports, HomeGoods, Gold’s Gym and Best Buy.
Daniel Finkle, Stephen Conley, John Owendoff, Jordan Lex and Kim Flores of JLL represented the seller, WashREIT, in the transaction. The deal was secured by HFF prior to being acquired by JLL.
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