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LANDOVER, MD- Preferred Real Estate Investments Inc. has acquired the former Giant Foods Headquarters Campus for $45 million. The site, which contains 1.5 million sf of office and industrial space, was purchased from Royal Ahold NV.

The Dutch food company took over Giant Food LLC about eight years ago. Located on a 100-acre parcel at 6400 Sheriff Rd., the complex had been home to Giant's headquarters and distribution center since it was developed half a decade ago.

After renovations, Preferred plans to lease some of the administrative and warehouse space at the site--recently renamed National Commerce Park. Other space will be put up for sale.