New Market Properties Acquires Shopping Center in Suburban Maryland for $72 Million

Bowie, Md. — New Market Properties LLC has acquired Free State Shopping Center, a 264,000-square-foot retail center in Bowie, for $72 million. The Giant Food-anchored center is situated 19 miles east of downtown Washington, D.C. Tenants include Ross Dress for Less, Tuesday Morning, Starbucks Coffee, T.J. Maxx, Office Depot and Sakura Japanese Steakhouse. Federal Investment Realty Trust sold the property.