Anchored by Washington Sports Club, the site sits across from Bethesda Row, Federal Realty's trendy shopping and restaurant area. It has a current assessed value of $3.8 million.
Developed in 1950, 4900 Hampden is also home to Super Cleaners, Bethesda Dance and Ritz Camera. Federal Realty plans to upgrade the property and enhance leasing efforts. "The Trust views this acquisition as an opportunity to continue to create value for Bethesda residents and visitors," says Jeff Berkes, senior vice president and chief investment officer.
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