Washington DC + Retail | July 31, 2019

First Washington Realty Claims Metro D.C. Retail Portfolio for $485M

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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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.