A private investment company snatches up the 105,636-square-foot shopping center at 110-130 W. Imperial Hwy. here, which had recently undergone a repositioning—further proof of this submarket's resurgence.

The Berkeley Building will be renovated and repositioned.

Federal Realty owns nine properties in the area and Brennan will be charged with overseeing development for those properties, as well as source new deals for the firm in the tri-state region.

“We expect to make several new project announcements in the coming months to kick off this new partnership.”