Northmarq Arranges $50.8 Million in Financing for Grocery-Anchored Retail Property in Metro Washington, D.C.

Potomac, Md. — Northmarq has arranged $50.8 million in permanent, fixed-rate financing for Potomac Place Shopping Center, an 80,040-square-foot retail property located in Potomac, roughly 15 miles northwest of downtown Washington, D.C. Originally constructed in 1967, Potomac Place is anchored by Safeway and features a mix of additional tenants such as Chipotle Mexican Grill, Starbucks Coffee, Mathnasium, Rose Home Services, Walgreens, PNC Bank and East West Tae Kwon Do.

Jason Smith and Kenneth Gentzel of Northmarq arranged the loan through Nationwide Life Insurance Co. on behalf of the borrower, Zuckerman Gravely.