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Washington DC & Mid-Atlantic  + DC  + Retail  |  July 24, 2023
Emily Fu
By: Emily Fu

PRP Acquires Spring Valley Village Retail Center 

PRP, a real estate investment firm, has announced the acquisition of Spring Valley Village, a retail center in the Spring Valley neighborhood of Washington, DC, for $47.5 million.  

Originally built in 1939 and renovated in 2017, the center is 98% leased and listed on the National Register of Historical Places. The center is anchored by Crate & Barrel and features various upscale tenants such as Millie’s Restaurant, CapitalOne Bank, Starbucks, Small Door Veterinary, Compass Coffee, and Bluestone Lane.  

PRP plans to enhance the center’s aesthetics and operations while selectively remerchandising it to leverage its superior demographics and traffic counts. JLL represented both sides in the deal.

Read More News Stories About: JLL
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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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