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Annapolis Town Center sold for $187M
Annapolis Town Center recently sold for $187 million. (Courtesy Photo)
Annapolis Town Center sold for $187M
Listen to this articleCommercial real estate agency CBRE announced the $187 million sale of Annapolis Town Center to North Bethesda-based Federal Realty Investment.
Anchored by Whole Foods, the lifestyle shopping center is located at 1906 Towne Center Blvd in the heart of the state’s capital and spans 478,648 square feet. CBRE’s Ryan Sciullo and Casey Smith represented the seller in the negotiations.
“Open-air shopping centers of this high quality continue to see strong demand from both institutional and private investors,” Sciullo said.
“Annapolis Town Center‘s irreplaceable location, upscale tenant mix and consistent consumer traffic make it one of the most dynamic shopping centers in the region.”
CBRE, headquartered in Dallas, has offices in Baltimore and Bethesda. The news of the retail center acquisition comes as several businesses made recent decisions to leave the complex, according to reports.
Target is regarded as the shopping center’s co-anchor, which is joined by a variety of other retail, restaurants, common areas and community-centric spaces, including Sephora, RH, Tatte, Anthropologie and Life Time Fitness.
