Federal Realty Acquires Local Retail for $27M

CHARLOTTESVILLE, VA-Federal Realty Investment Trust has acquired a 166,200-sf neighborhood shopping center in Charlottesville, VA. An off-market trade, the seller was a local private group. The Whole Foods-anchored center, called Shoppers’ World, traded for $27.2 million.

Other tenants include Starbucks, Radio Shack, Advance Auto and Staples. The property also includes approximately 80,000 sf of small shop space and two pad sites.

This is Federal Realty’s second acquisition in the Charlottesville market. The firm also owns Barracks Road Shopping Center, an open-air retail center located just two miles south of Shoppers’ World. One of the main shopping centers in the city, Barracks Road is synergist with the Shoppers’ World play, Andrew Blocher, SVP of capital markets and investor relations, tells GlobeSt.com.