SILVER SPRING, MD—A source tells us that RappaportCo. has acquired WesTech Village Corner,a 41,261 square foot retail center, for $27.9million, or $676 per square foot.
The property, located on Tech Road in SilverSpring, is fully occupied by such tenants as Capital One Bank,Panera Bread, TGI Fridays and Chic-Fil-A., according to marketingmaterials by CBRE.
Built in 2007 the center consists of two buildings. CrowHoldings was the seller, having acquired it in March 2012for $23.3 million.
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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.
