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JLL Closes $168M Grocery-Anchored Portfolio Sale for WashREIT
JLL Capital Markets has closed the $168.3-million sale of a portfolio of eight infill neighborhood retail assets totaling 695,991 square feet in Washington, D.C., Northern Virginia and southern Maryland. The team of Stephen Conley, Danny Finkle, Jordan Lex and Kim Flores marketed the portfolio on behalf of WashREIT.
The portfolio, 82% leased, includes two assets in Washington, DC, two in Virginia and four in Maryland. The District properties include Chevy Chase Metro Center and Spring Valley Village, with 800 S. Washington St. in Alexandria and Concord Centre in Springfield comprising the Virginia assets. Montrose Shopping Center and Randolph Shopping Center in Rockdale; Takoma Park Shopping Center in Takoma; and Westminster Shopping Center in Westminster are all in Maryland.
“JLL continues to see strong investor demand for opportunities to acquire retail, especially at-scale,” Finkle said. “The asset class has proven resilient and offers investors appealing risk-adjusted returns in today’s low-yield environment.”
- ◦Sale/Acquisition
