GLENARDEN, MD – New York-based REIT, Urban Edge Properties has acquired a 712,000-square-foot grocery-anchored, regional power center in Glenarden, MD, as well as an adjacent 22-acre land parcel.
The REIT purchased the properties for $193.4 million, which provides an initial unleveraged yield of 6.4%.
The acquired retail asset, Woodmore Towne Centre, is situated on 83 acres of land and is located off of the Capital Beltway, nine miles from the center of Washington D.C.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
