WASHINGTON, DC—Washington Real Estate InvestmentTrust has acquired the Spring Valley RetailCenter in an off-market trade for $40.5million. The 75,265-square foot center consists of fiveseparate buildings in the 4800 block of Massachusetts Ave.,NW. It is bounded by Massachusetts Avenue to the north andeast, Fordham Road to the south, and 49th Street to the west. It is96% leased and anchored by Crate and Barrel.

This is the REIT's fourth acquisition this year, for a total of$300 million.

WRIT's new strategy, since it divested itself of its medicaloffice portfolio has been to focus on high-quality, well-locatedassets in DC's core.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

Washington, DC