WASHINGTON, DC—Besides Retail Properties of America's $72.7 million acquisition of Merrifield II and Shoppes at Hagerstown and Federal Capital's buyout of seven retail assets from its partner ING Clarion prior to its sale to Legg Mason, there have also been at least two smaller retail acquisitions this month. 

Bowie Plaza, a 104,037-square foot, Giant-anchored strip mall at 6824 Laurel-Bowie Rd., traded to a private investor/developer from Old Westbury, NY for $24.3 million. The seller was a JV between CalPERS, First Washington Realty and Regency Centers.

Two strip malls, one located at 4235 N Pershing Dr. in Arlington, VA and the other, Buckingham Center, located at 309 N Glebe Rd., were acquired by Arlington-based Paradigm Cos. for about $21 million from an affiliate of locally-based Jenco Group.

Is this the beginning of a trend? Well, actually it is the continuation of one. Sales of grocery-anchored centers in the area for the first three quarters of 2015 totaled $719.5 million, or $375 per square foot, compared to $323 million, or $353 per square foot in all of 2014, according to a Delta Associates/ Rappaport Cos. report.

In fact, the report noted that grocery-anchored center sales for 2015 have already reached a higher total through three quarters than in any full calendar year since 2005.

"Retail real estate in the region avoided disaster during the recession and lackluster recovery, which is remarkable considering the dual pressures of slow job growth and booming online merchandising," the report concluded.

"Now that the demand side of the retail sales equation has improved, we expect improvements in retail real estate to continue apace."