GLENARDEN, MD – New York-based REIT, Urban Edge Properties has acquired a 712,000-square-foot grocery-anchored, regional power center in Glenarden, MD, as well as an adjacent 22-acre land parcel.
The REIT purchased the properties for $193.4 million, which provides an initial unleveraged yield of 6.4%.
The acquired retail asset, Woodmore Towne Centre, is situated on 83 acres of land and is located off of the Capital Beltway, nine miles from the center of Washington D.C.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
