Washington DC

Primark

Hyattsville, Md. — Primark, a global apparel retailer, plans to open a 30,000-square-foot store at Mall at Prince George’s, a regional shopping mall located in Hyattsville, roughly six miles outside Washington, D.C. The store is scheduled to open at the property, which is owned by PREIT, in 2025 in a space formerly occupied by JCPenney. Primark recently announced plans to grow its regional footprint from 24 to 60 locations. Other tenants at the mall include Target, Planet Fitness, H&M, DSW, Old Navy, Victoria’s Secret and Miller’s Ale House.

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Toronto, Canada and Washington, D.C. — Avison Young has entered into an agreement to acquire Madison Marquette’s retail platform for an undisclosed price. The acquisition will include the Washington, D.C.-based firm’s retail property management, marketing and leasing services throughout the U.S.; and a portfolio comprising more than 6.1 million square feet of properties managed and leased by Madison Marquette. Madison Marquette teams will integrate with those of Toronto, Canada-based Avison Young in Los Angeles, New Jersey, Philadelphia, Indiana, Arkansas, Maryland, Virginia, Atlanta and Florida, and the acquisition expands Avison Young’s presence …

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Washington, D.C. — Retail spending in November aligned with expectations and portends a strong holiday season, reports the National Retail Federation (NRF). Citing information for November provided by the U.S. Census Bureau, the NRF says that core retail sales — excluding automobile dealers, gasoline stations and restaurants — were up 3.3 percent year-over-year on a three-month moving average. According to the bureau, overall retail sales in November were up 4.1 percent year-over-year. The NRF predicts that holiday retail sales, which fall between Nov. 1 and Dec. 31, will meet the federation’s …

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Flight-Club

Washington, D.C. — Eatertainment operator State of Play has announced plans to open an 8,546-square-foot Flight Club darts venue in Washington, D.C. Scheduled to open summer 2024 and marking the 13th location for the brand, Flight Club D.C. will be situated within 655 New York, a 756,000-square-foot mixed-use development. Other tenants at 655 New York, which features 79,000 square feet of retail space, include Rumi’s Kitchen, Capital Burger, Pearl’s Bagels, Kinship, Metier and Compass Coffee. 

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Washington, D.C. — The National Retail Federation (NRF) has acquired the Reverse Logistics Association (RLA), a global trade association for the returns and reverse industry. “Retailers understand the importance of sustainability practices and the environmental, economic, social and consumer benefits that accompany them,” says Matthew Shay, president and chief executive officer of the NRF. “RLA’s reverse logistics expertise will help our members to ‘close the loop’ and accelerate the emergence of the circular economy,” he adds. The circular economy constitutes the efforts to reuse or recycle useful products, materials and resources. 

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Stonehenge-Village_Richmond-Va

Atlanta —The Shopping Center Group (TSCG) has acquired Rosenthal Properties. Founded in 1999, Rosenthal Properties includes 65 people overseeing more than 100 commercial properties and manages more than 7 million square feet of retail space. “We’ve grown our company strategically through a combination of organic growth and acquisition of market leading firms in territories that complement our existing strengths…and we’re thrilled to have the Rosenthal team join us.” TSCG now operates more than 21 regional offices with more than 300 associates. 

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Largo-Town-Center_Upper-Marlboro

Upper Marlboro, Md. — Finmarc Management Inc. has sold Largo Town Center, a 280,000-square-foot retail center in the Upper Marlboro suburb of Washington, D.C., for $70 million. The investment firm purchased the shopping center in 2019 when it was 80 percent occupied. John Donnelly of John C. Donnelly Inc. and Arthur Benjamin and Alex Alperstein of AdvisoRE LLC represented the buyer, an investment group led by Bethesda-based KPI Commercial LLC, in the transaction. Joseph Hoffman of Kelley Drye Warren provided legal services to Finmarc. Tenants at the property include Marshalls, Shoppers …

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Spring-Valley-Village_DC

Washington, D.C. — PRP has acquired Spring Valley Village, a 95,000-square-foot shopping center in Washington, D.C., for $47.5 million. Originally constructed in 1939 and renovated in 2017, the center comprises six buildings that were 98 percent leased at the time of sale. Tenants at the property include Crate & Barrel, Millie’s Restaurant, Capital One Bank, Starbucks Coffee, Small Door Veterinary, Compass Coffee and Blue Lane. 

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Washington, D.C. — The U.S. Census Bureau reports that overall retail sales in June rose 0.2 percent from May and 1.5 percent from June 2022. The Wall Street Journal reports that the retail sector’s three consecutive months of positive sales activity can be attributed in part to inflation easing. The Consumer Price Index, the U.S. Bureau of Labor Statistics’ leading indicator for inflation, rose at an annualized rate of 3 percent in June, the lowest figure since March 2021. The National Retail Federation (NRF), a Washington, D.C.-based advocacy organization for the retail industry, …

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Mazza-Gallerie_DC

Washington, D.C. — Tishman Speyer has secured a $150 million construction loan to fund the mixed-use redevelopment of Mazza Gallerie, a three-story shopping mall in Washington, D.C.’s Friendship Heights neighborhood. RBC Capital Markets provided the financing. Upon completion, the property will feature 320 rental apartments and 90,000 square feet of retail space, including 20,000 square feet of new ground-level retail space. Tishman Speyer will maintain the mall’s 70,000-square-foot retail concourse, which will be anchored by T.J. Maxx. The redevelopment will also maintain over 800 parking spots across four below-grade levels. …

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