Shopping Center Business

SEP 2018

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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8 • SHOPPING CENTER BUSINESS • September 2018 NEWSLINE HFF ARRANGES $415 MILLION SALE OF WASHINGTON HARBOUR IN D.C.'S GEORGETOWN DISTRICT HFF has arranged the $415 mil- lion sale of Washington Harbour, a 562,105-square-foot mixed-use proj- ect located along the Potomac River in Washington, D.C.'s Georgetown submarket. Stephen Conley, Jim Mei- sel, Andrew Weir, Matt Nicholson and Dave Baker of HFF represented the seller, Principal Real Estate Inves- tors (PREI), on behalf of a consor- tium of South Korean-based inves- tors. Simone Investment and Hana Alternative Asset Management acted as the managing members of the con- sortium. Eyal Ofer's Global Hold- ings Group, an international alliance of real estate asset management and investment advisory companies, pur- chased the asset. Designed by Arthur Cotton Moore, Washington Harbour comprises two freestanding, Class A towers. The property underwent a $50 million renovation in 2013 that delivered new retail and street-lev- el experiences, including a fountain with programmable light and water shows in the spring and summer that transforms into a 12,000-square-foot ice skating rink in the fall and winter months. The project was 98 percent leased at the time of sale to 31 ten- ants including Foley & Lardner, Kel- ley Drye & Warren, advertising firm GMMB Inc., and retail tenants such as Fiola Mare, Farmers Fishers Bak- ers, Bangkok Joe's, Sequoia, Tony & Joe's Seafood Place and Nick's River- side Grill. GBT, PARTNERS ACQUIRE ELLSWORTH PLACE IN METRO D.C. FOR $92 MILLION GBT Realty Corp., in partnership with Equity Resource Investments and Avante Financial Group, has acquired Ellsworth Place, a five-story retail and entertainment center in Silver Spring, Maryland, for $92 million. Newmark Knight Frank arranged the transac- tion on behalf of the seller, a joint venture between Rockwood Capital and Petrie Richardson Ventures. Rial- to provided acquisition financing. The 350,000-square-foot property spans a city block and is located six miles north of Washington, D.C. Ellsworth Place was 93 percent leased at the time of sale to tenants such as Dave & Buster's, Marshalls, T.J. Maxx, Ross Dress for Less, Burlington, Five Below, Foot Locker, MOD Pizza and Ben & Jerry's. The acquisition also includes air rights approved for up to 250,000 square feet of office space. Ellsworth Place features direct access to public parking via a pedestrian bridge and is located three blocks from the Silver Spring Metro station. GBT has acquired the five-story Ellsworth Place, home to Dave & Buster's, Marshalls, Ross Dress for Less and Burlington. Hilltop Plaza Md Route 450 & Race Track Rd. Bowie, MD 20715 • Over 95% leased • Strong national retailers including Aldi, Dollar Tree, Advance Auto, Walgreens and Dunkin Donuts • Excellent household incomes within 5 miles (average of $136,000) Contact: Jim Farrell, 571.382.1229 RETAIL OPPORTUNITIES For more information on ALL of Bowie's Opportunities, contact: John Henry King Economic Development Director, City of Bowie, Maryland 15901 Excalibur Road Bowie, MD 20716 301.809.3042 | fax 301.809.2315 Pointer Ridge Plaza 1334 Crain Highway Bowie, MD 20716 • High traffic counts on Route 301 (over 60,000 cars per day) • Renovated facade • Mature and stable housing market surrounding center Contact: Jim Farrell, 571.382.1229 Bowie Marketplace 15455 to 15511 Annapolis Rd. Bowie, MD 20715 • Brand New! • Ample and convenient parking! • Great tenant mix with Harris Teeter! Contact: Brian Berman, 301.816.1555

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