ROCKVILLE, MD-Federal Realty Investment Trust has acquired a controlling interest in Montrose Crossing, a shopping center located in Rockville, Maryland, for a price of $127 million. Old Navy is the anchor tenant of the retail center measuring 357,000 square feet. In the transaction, CBRE Group Inc.'s Washington office and its New York Institutional Group brokered for the seller, BVS Montrose LLC.
With this acquisition, Federal Realty will now have a retail space totaling roughly 1.2 million square feet. For the full story, go to Washington Business Journal .
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