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Granite Canyon Partners Takes Takoma Park Grocery-Based Retail Center
Washington, DC-based Granite Canyon Partners has acquired Takoma Langley Crossroads, a 125,245-square-foot grocery-anchored shopping center in Takoma Park, MD.
The recently renovated asset is nearly 100% leased to necessity-based, high performing tenants such as Aldi, Walgreens, Citibank, Taco Bell and 7-Eleven.
John Owendoff of Cushman & Wakefield represented the seller in the transaction.
“Takoma Langley Crossroads offers exceptional cash flow durability as a grocery-anchored shopping center with a dynamic mix of tenants who have a long track record of serving the vibrant Takoma Park community,” said Owendoff. “The property also offers long-term redevelopment and densification potential because of its ideal location on almost 10 acres, directly across the street from the Takoma Langley Transit Center and future purple line Metro stop.”
The asset is located across the street from the Takoma Langley Transit Center, the largest non-Metrorail transfer point in the Washington region and the future home of a purple line metro stop.
- ◦Sale/Acquisition
