Search
 

REIT Sells Three Northeastern Properties for $19M

ROCKVILLE, MD-Slow-growth properties no longer figure in Federal Realty Investment Trust's game plan, so the dispositions have begun. Properties newly shed are located in Connecticut and New Jersey.

By Barbra Murray | Updated on May 08, 2002

ROCKVILLE, MD-Equity REIT Federal Realty Investment Trust has disposed of three properties in the northeast in a $19.2-million transaction. The sales are in line with the company’s new business plan, which includes the selling of the slower growing retail properties in its portfolio.

In Westport, CT Federal sold a 16,400-sf asset and a 10,000-sf single-tenant retail property, and in Westfield, NJ it let go of an 11,000-sf retail center.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.