First Washington Realty Buys DC-area Portfolio
WashREIT was the seller of the five grocery-anchored shopping centers.
BETHESDA MD—First Washington Realty has acquired a five-asset portfolio of grocery-anchored shopping centers around the Washington, DC region. WashREIT was the seller. Terms of the transaction were not announced.
The properties, which total 800,000 square feet, are Bradlee Shopping Center, Shoppes at Foxchase, Gateway Overlook, Olney Village Center and Wheaton Park Shopping Center. They are anchored by such tenants as Trader Joe’s, Giant Food, Harris Teeter, and TJX brands.
“The purchase of these properties represents a terrific opportunity in our backyard,” Alex Nyhan, CEO of First Washington Realty says in prepared remarks. “We started in the Mid-Atlantic and have long sought to own these wonderful centers.”
First Washington Realty owns 102 shopping centers valued at over $5.4 billion located in 22 states and the District of Columbia. Its portfolio totals about 13.7 million square feet with some 2,500 tenants.