{"id":1004167486,"date":"2017-02-24T03:15:13","date_gmt":"2017-02-24T11:15:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004167486"},"modified":"2022-12-09T00:22:52","modified_gmt":"2022-12-09T08:22:52","slug":"inventrust-properties-corp-goes-shopping-in-maryland","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/inventrust-properties-corp-goes-shopping-in-maryland\/","title":{"rendered":"InvenTrust Properties Corp. Goes Shopping in Maryland"},"content":{"rendered":"<p>By Mihaela Coste<\/p>\n<div id=\"attachment_1004167488\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/The-Shops-at-Town-Center.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004167488\" data-attachment-id=\"1004167488\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/inventrust-properties-corp-goes-shopping-in-maryland\/the-shops-at-town-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/The-Shops-at-Town-Center.jpg\" data-orig-size=\"1360,849\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"The Shops at Town Center in Germantown, Md.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Shops at Town Center in Germantown, Md.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/The-Shops-at-Town-Center.jpg?w=1024\" class=\"wp-image-1004167488 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/The-Shops-at-Town-Center.jpg\" alt=\"The Shops at Town Center in Germantown, Md.\" width=\"300\" height=\"187\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/The-Shops-at-Town-Center.jpg 1360w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/The-Shops-at-Town-Center.jpg?resize=300,187 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/The-Shops-at-Town-Center.jpg?resize=768,479 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/The-Shops-at-Town-Center.jpg?resize=1024,639 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004167488\" class=\"wp-caption-text\">The Shops at Town Center in Germantown, Md.<\/p><\/div>\n<p><b>Washington<\/b>\u2014InvenTrust Properties Corp. has recently acquired The Shops at Town Center, a 125,000-square-foot retail center located in Germantown. The asset traded for $53.6 million.<\/p>\n<p>Situated at 19718 Germantown Road, the property\u00a0was developed by Artery Capital Group LLC and opened doors in 2000. The asset is adjacent to a 328-unit apartment complex and in close proximity to Interstate 270 and State Route 355, being just 25 miles northwest of Washington, D.C.<\/p>\n<p>The center is currently anchored by Safeway, the tenant roster also including Chipotle, Baja Fresh, Sunco, and Verizon.<\/p>\n<p>InvenTrust Properties Corp. became a self-managed REIT in 2014 and, as of September 2016, owns and manages 88 retail properties, encompassing roughly 15.1 million square feet of retail space and one non-core property.<\/p>\n<p>\u201cThis transaction provides us with an opportunity to begin our expansion in the Washington, D.C., market,\u201d said Michael Podboy, CFO &amp; CIO of InvenTrust, in a prepared statement. \u201cThis property provides us with a strong submarket location in one of the country\u2019s wealthiest counties (Montgomery County), while giving us an opportunity to acquire a core grocer-anchored center located amidst a growing residential development.\u201d<\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Safeway-anchored retail center traded for $54M.<\/p>\n","protected":false},"author":1192,"featured_media":1004167488,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,11,21742,1615],"tags":[33161,34103],"class_list":["post-1004167486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-midatlantic","category-latest","category-washington-dc","tag-inventrust-properties","tag-safeway-inc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>InvenTrust Properties Corp. 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