WASHINGTON, DC—Last month the JBG Cos. announced it acquired two retail properties in the area: Stonebridge at Potomac Town Center, located in Woodbridge, VA, and the Piney Branch Shopping Center in Silver Spring, MD, a 27,121-square foot neighborhood strip center.
At 482,631 square feet, it was the Stonebridge at Potomac Town Center that caught our eye as we ferreted out word that the 93% occupied power center traded for about $225 million from Roadside Development.
This week the Bethesda, MD-based Finmarc released details about its asset -- namely that it traded for $11.2 million.
Built in 1950 and renovated in 1985, Piney Branch Shopping Center has twelve tenants and is fully occupied.
Andy Stape, Mat Adler and Vito Lupo of KLNB Retail represented the seller in this transaction.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
