WASHINGTON, DC–A source tells GlobeSt.com that Mazza Gallerie, an urban retail center located at 5300 Wisconsin Ave., NW, is in the process of trading to the New York City-based company Ashkenazy Acquisition Corp. for $80 million, or $272 per square foot. Both the owner of the 294,000-square-foot retail center, TH Real Estate, a division of TIAA Global Asset Management, or what used to be called TIAA-CREF, and Ashkenazy did not respond to inquiries by GlobeSt.com about the report.
The then-TIAA-CREF acquired Mazza Gallerie in 2004 for about $77 million.
The center, which is located in the high end Friendship Heights neighborhood, has Neiman Marcus and Saks 5th Ave as tenants as well as TJ Maxx and AMC Theaters.
The last acquisition TH Real Estate has made in the DC area was in November 2015, when it acquired Ashton Judiciary Square for $42 million. It made a significant disposition here in May when it sold Market Common Clarendon, which it owned for 13 years, to a joint venture between Regency Centers and AvalonBay Communities for $406 million.
WASHINGTON, DC–A source tells GlobeSt.com that Mazza Gallerie, an urban retail center located at 5300 Wisconsin Ave., NW, is in the process of trading to the
The then-TIAA-CREF acquired Mazza Gallerie in 2004 for about $77 million.
The center, which is located in the high end Friendship Heights neighborhood, has
The last acquisition TH Real Estate has made in the DC area was in November 2015, when it acquired Ashton Judiciary Square for $42 million. It made a significant disposition here in May when it sold Market Common Clarendon, which it owned for 13 years, to a joint venture between Regency Centers and AvalonBay Communities for $406 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.
