BETHESDA, Md.–(BUSINESS WIRE)–First Washington Realty, a real estate investment and management firm specializing in essential, retail-focused shopping centers, has acquired a Whole Foods Market-anchored retail shopping center in suburban Washington D.C. This 163,000-square-foot grocery-anchored shopping center forms part of a mixed-use district called The Station at Riverdale Park, adjacent to The University of Maryland in College Park, Maryland.
Anchored by Prince George’s County’s only Whole Foods Market, The Station at Riverdale Park features a wide range of necessity retail and convenient dining options, including nationally recognized tenants such as Burton’s Grill, Starbucks, Gold’s Gym, and Jersey Mike’s, as well as local favorites, including Denizens Brewing Co. and District Taco. The Station at Riverdale Park attracts over 2.3 million visitors annually.
“The Station at Riverdale Park is a prime example of the high caliber properties we aim to acquire,” said Amrit Chase, SVP of Investments at FWR. “With a strong demographic profile in a thriving community and limited competition, this property offers us an excellent foundation to generate compelling returns for our investors.”
Located inside the Washington, D.C. Beltway, the property benefits from convenient connectivity to the greater D.C. area and access to a diverse, well-educated population of consumers. Prince George’s County is the second largest county in Maryland with nearly one million people earning an average household income of over $120,000. The area also benefits from growing industries and firms in the following sectors: professional/business services, leisure/hospitality, transportation, utilities and education, and health services.
“Our team looks forward to the strategic merchandising and lease-up opportunities at The Station at Riverdale Park,” said Emily Gagliardi, SVP of Leasing and Asset Management for the East Coast at FWR. “With FWR’s proven track record of owning and operating best-in-class shopping centers for over 41 years, we are excited to leverage our expertise and strong relationships to bring exceptional retailers to the community.”
About First Washington Realty
First Washington Realty (FWR) is a national real estate investment and management firm that specializes in the ownership and operation of essential, high quality retail real estate. Founded in 1983, FWR’s portfolio is comprised of 142 open-air retail shopping centers spanning approximately 22 million square feet across 22 states and the District of Columbia. The company is headquartered in Bethesda, Md. with offices in Orange County, Kansas City, Portland, Sacramento, and San Diego. For more information, visit www.firstwash.com.
