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Cleveland Park Retail Center Trades for $39M

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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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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