WASHINGTON, DC—The JBG Cos. has acquired two retail properties in the area, weeks after it announced it was fully acquiring its affiliate JBGR Retail.
One property it is buying is the Piney Branch Shopping Center in Silver Spring, MD, a 27,121-square foot neighborhood strip center that is fully leased. Finmarc Management was the seller of the property, represented by Andy Stape, Mat Adler and Vito Lupo of KLNB Retail.
The second property is Stonebridge at Potomac Town Center, located in Woodbridge, VA. The 482,631-square-foot center is 90% leased and includes an additional 23.4 developable acres. In October, a source told GlobeSt.com that Roadside Development was selling the property to JBG Cos., for about $225 million, but the company did not respond to a request for comment at that time.
Stonebridge at Potomac Town Center is anchored by Wegmans and has severa other retailers such as Apple, REI, DSW, Orvis, Uncle Julios and South Moon Under. Geoffrey Millerd of Newmark Grubb Knight Frank represented the seller in this transaction. Nick Seidenberg, Michael Zelin and Clint Frease of Eastdil Secured assisted JBG in sourcing acquisition financing for the transaction.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
