WASHINGTON, DC—Stockbridge Capital Group has purchased a Walmart store on Georgia Avenue here for $32.1 million.
The San Francisco-based investment management company acquired the 106,243-square-foot store at 5929 Georgia Ave. from the Fougler-Pratt Cos., according to the Washington Business Journal. The store opened for business last December.
Foulger-Pratt retained CBRE to market the project to interested buyers a little more than a year ago while it was still under construction. The building is assessed at approximately $36.9 million, according to the D.C. Office of Tax and Revenue.
Stockbridge teamed up with Akridge in March on an acquisition of an office building in Old Town Alexandria. Stockbridge officials say the firm hopes to boost its DC area presence to between $100 million and $200 million in the coming year. See story in the Washington Business Journal.
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