Brandywine, Md. — First National Realty Partners (FNRP) has completed the refinancing of Brandywine Crossing, a 231,036-square-foot regional power center located in Brandywine, approximately 20 miles southeast of Washington, D.C. The four-year loan includes future funding for approved leasing expenses and the facilitation of the release of escrowed funds held by the previous lender.
Since acquiring the center in March 2022, FNRP has increased occupancy from 89 percent to 95 percent by securing 12 new leases and six renewals with tenants including Marshalls, Visionworks and Salon Lofts. The firm also secured a lease with Burlington to backfill a former 25,310-square-foot JOANN Fabric and Crafts store. The next step for Brandywine Crossing will be constructing the buildouts for Burlington, Buffalo Wild Wings ‘GO’ and Another Broken Egg Café. The firm is also pursuing additional tenants and exploring outparcel sale opportunities.
Brandywine Crossing sits on a 30-acre site and is anchored by a nearly 60,000-square-foot Safeway grocery store. Other existing tenants include Bonefish Grill, Panda Express, Advance Auto Parts, Truist Bank, Wells Fargo, AT&T and The UPS Store.