KINGSTOWNE, VA – Owner, operator and redeveloper of retail properties, Federal Realty Investment Trust has acquired the retail destination Kingstowne Towne Center in Kingstowne, VA for $200 million. The firm purchased the property from the Halle Cos.
Federal Realty Investment Trust has closed on the first $100 million phase of the two-phase acquisition. The firm expects to close on phase two in July, subject to customary closing conditions.
The acquired property comprises 410,000 square feet of retail space on 45 acres of land. It is currently 97% leased to a mix of tenants that includes anchors Safeway and Giant, as well as T.J. Maxx, Ross, HomeGoods.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
