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Federal Realty buys part of Kingstowne Towne Center
Federal Realty buys part of Kingstowne Towne Center
Katherine Schulte// April 22, 2022//
A portfolio of retail buildings in Fairfax County’s Kingstowne community has sold for $200 million, Avison Young’s Capital Markets Group announced Thursday.
The portfolio has 410,398 combined square feet of retail space anchored by Safeway and Giant supermarkets and includes part of Kingstowne Towne Center and of Kingstowne Shopping Center. It has 61 tenants, and the buildings are 97% leased.
Federal Realty Investment Trust purchased the portfolio from The Halle Cos., which in the mid-1980s developed 1,200 acres into a master planned community to create Kingstowne. The deal will close in two parts, with the first half closing this week. The second half is expected to close in July. An Avison Young Capital Markets team led by Dean Sands and Chip Ryan, both principals in the firm’s U.S. Capital Markets Group, represented the seller.
