WASHINGTON, DC–Mazza Gallerie, an urban retail center located at 5300 Wisconsin Ave., NW, has traded to the New York City-based company Ashkenazy Acquisition Corp. for $78 million, or $265 per square foot. The seller of the 294,000-square-foot retail center was TH Real Estate, a division of TIAA Global Asset Management, or what used to be called TIAA-CREF.
The then-TIAA-CREF acquired Mazza Gallerie in 2004 for about $77 million.
The Friendship Heights center counts Neiman Marcus and Saks 5th Ave as tenants as well as TJ Maxx and AMC Theaters.
Another significant disposition TH Real Estate made here occurred last May when it sold Market Common Clarendon, which it owned for 13 years, to a joint venture between Regency Centers and AvalonBay Communities for $406 million.
Last September we reported this deal was pending, based on information provided to us by a source.
WASHINGTON, DC–Mazza Gallerie, an urban retail center located at 5300 Wisconsin Ave., NW, has traded to the
The then-TIAA-CREF acquired Mazza Gallerie in 2004 for about $77 million.
The Friendship Heights center counts
Another significant disposition TH Real Estate made here occurred last May when it sold Market Common Clarendon, which it owned for 13 years, to a joint venture between Regency Centers and AvalonBay Communities for $406 million.
Last September we reported this deal was pending, based on information provided to us by a source.
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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.
