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CBRE Global Investors Fund Acquires DC-Area Retail, MF MXU
Connect Retail West is set for January 25th at the Hurley Surf Club Pacific City in Huntington Beach, CA. Here’s where to get more information and register.
The CBRE Strategic Partners U.S. Value 8 fund acquired North Bethesda Market, a Class A, transit-oriented, mixed-use community in North Bethesda, MD, reportedly from an affiliate of Chicago’s Capri Capital Partners. The sales price was undisclosed.
The 411-unit multifamily component, which is currently 96.8% leased, includes a condo-quality 24-story high-rise with 187 units and a six-story mid-rise with 224 units. The 182,926-square-foot retail portion of the property is 87.4% leased to a complementary mix of necessity retailers and experiential retailers/restaurants, most of which are either investment grade or national concepts/brands.
Located at 11351 Woodglen Dr., the property is walkable to the White Flint Metro Station. The acquisition offers upside potential through the repositioning of both the apartment and retail components with updates to the mid-rise residential units, common areas, signage and lighting.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
