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GAITHERSBURG, MD-Montgomery Village Plaza, a 113,000-sf shopping center with a proposed 2005 assessed value of nearly $12.9 million, has found a new owner in Bethesda, MD-based JBG Rosenfeld Retail. The real estate company purchased the nearly two-decade-old retail facility from Combined Properties LP in an $18.1 million transaction. Montgomery Village Plaza brings JBGR's ownership in Montgomery County up to two facilities.

"The addition of Montgomery Village Plaza to our property portfolio further solidifies our presence in Montgomery County, and provides us with tremendous opportunities for value enhancement," says Jim Garibaldi, JBGR principal.

Located at Lost Knife Rd. and Contour Rd. just behind Lakeforest Mall off I-270, Montgomery Village Plaza is home to a variety of national and local retailers including anchors Trader Joe's and Marshall's. The tenant roster of approximately 20 is a diverse one. Other occupants include Blockbuster Video, China Star Restaurant, Gymboree Play Center, Jennifer Convertibles, Jenny Craig Weight Loss Center, Rent-A-Center and Wendy's.