King Farm Village Center
ROCKVILLE, MD—Private equity real estate firm Sterling Organization has announced the acquisition of King Farm Village Center, a 118,326-square-foot grocery-anchored shopping center here. Regency Centers was the seller of the property, which traded for $40 million, or $338 per square foot. Sterling Organization acquired King Farm Village Center on behalf of its institutional grocery-anchored shopping center core fund, Sterling United Properties I, LP, or SUP I.
King Farm Village Center, which is located within the master-planned community King Farm Village, is currently 93% leased and anchored by a 53,754-square-foot Safeway grocery store.
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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.
