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JBG Smith Sells Walmart-Anchored Apartment Property in DC
JBG Smith has sold the mixed-use Fort Totten Square property to LBX Investments for $86.8 million.
An affiliate of LBX Investments, in partnership with Broadwill LLC, the 425,000-square-foot property with 345 apartments along with 130,000 square feet of retail space anchored by Walmart, reported the Washington Business Journal.
The property features studio, one-, and two-bedroom apartments with amenities including a clubhouse, fitness center, two courtyards, and a pool. Fort Totten Square is located a few blocks from the Fort Totten Metro station at 5661 Third St. NE and was developed by The JBG Cos., JBG Smith’s predecessor.
Other retail tenants include Subway, Five Guys and Wing Stop. It is the second Walmart-anchored development JBG Smith has developed and sold, the first being 77 H St. NW, which was acquired by Clarion Partners in 2014.
