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Washington DC  + DC Metro  + Retail  | 
Safeway storefront

Federal Realty Scores Fairfax Grocery-Anchored Center in Off-Market Deal

Federal Realty Investment Trust said Monday it had acquired a 100% interest in Twinbrooke Shopping Centre, a 110,000-square-foot grocery anchored neighborhood shopping center in Fairfax, VA. The REIT sourced the acquisition off-market for $33.8 million cash.  

Year to date, North Bethesda, MD-based Federal Realty has acquired five properties totaling 1.9 million square feet and 135 acres at a gross value of $441 million of which Federal will own an average 82% interest. 

“Throughout the pandemic, our teams have remained focused on identifying growth and value-enhancing opportunities, and our acquisitions group is no exception as evidenced by the five properties we’ve accretively  acquired in 2021,” said Federal Realty CEO Don Wood. 

The property is 86% occupied and anchored by Safeway and Walgreens. Similar to the recently acquired Chesterbrook Shopping Center in McLean, VA, Federal Realty anticipates increasing the value of Twinbrooke over time through remerchandising and incremental capital investment. 


Inside The Story

Federal Realty

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition