ROCKVILLE, MD-Twinbrook Square has come under new ownership courtesy of a recent $24.5 million transaction in which JBG Rosenfeld Retail purchased the 93,000-sf shopping center from Equity Pike Associates LLC. Located on a nearly four-acre parcel at 1800 Rockville Pike, the property has a current assessed value of about $13 million.
Developed in 1979, the retail destination's price tag was boosted by tenancy; the property is fully occupied. Among the retailers that make their home at Twinbrook Square are Scan Furniture and Ethan Allen Home Interiors, which peddles its home furnishings in a 16,000-sf showroom.
"The Washington, DC retail market is the hottest in the nation right now, and the strength of retail in Montgomery County supports that claim," says JBGR principal Jim Garibaldi.
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