New 205,000-SF Retail Center Sells

WALDORF, MD-Glendale, CA-based American Realty Advisors has acquired the currently 205,000-sf Waldorf Marketplace from developer Faison Enterprises. The property is being developed in phases. The second phase reached completion last year, and ultimately, the property will feature 440,000 sf of retail space.

According to Faison, the center is the first retail property to be developed in Waldorf within the last decade. The sale price was not disclosed and has not been made available through public record.

Situated on a 33-acre parcel at the intersection of Western Parkway and Berry Road, the seven-structure center presently features three anchors–Safeway, Office Depot and Petco–in addition to other national retailers such as AC Moore, Red Robin, Hollywood Video and Starbucks. “The addition of Waldorf Marketplace to the American Stable Value Fund is representative of our commitment to seeking superior investments with undiscovered growth potential,” says American Realty president and CEO Stanley Iezman.