{"id":1004652495,"date":"2023-03-22T00:40:46","date_gmt":"2023-03-22T08:40:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004652495"},"modified":"2023-03-22T00:40:49","modified_gmt":"2023-03-22T08:40:49","slug":"first-national-buys-360-ksf-dc-area-retail-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/first-national-buys-360-ksf-dc-area-retail-asset\/","title":{"rendered":"First National Buys 360 KSF DC-Area Retail Asset"},"content":{"rendered":"
\"Waldorf<\/a>

Waldorf Marketplace. Image courtesy of First National Realty Partners<\/em><\/p><\/div>\n

First National Realty Partners <\/strong>has acquired Waldorf Marketplace, a 359,484-square-foot grocery-anchored retail center in Waldorf, Md. CommercialEdge identifies American Realty Advisors<\/strong> as the previous owner.<\/p>\n

According to earlier reports by Globe Street<\/em>, the former owner picked up the first phase of the shopping center in 2005 and the second one in 2007, for which the firm paid $38.5 million.<\/p>\n

A 58,092-square-foot Safeway grocery store anchors Waldorf Marketplace, operating at the property since 2005. A range of national and regional retailers are also present, including Hobby Lobby, Jared, Petco, Starbucks, Wells Fargo, Red Robin, TGI Fridays, Bath & Body Works and Famous Dave’s. There is still some unoccupied space in the shopping center, which presents some upside potential for the buyer.<\/p>\n

\n

READ ALSO<\/strong>: What Will Retail Look Like in 2023?<\/a><\/p>\n

\n

Located at 2990-3088 Waldorf Marketplace, the retail center sits in a highly populated retail area, some 28 miles south of Washington, D.C. Waldorf Marketplace is positioned at the junction of Western Parkway and Berry Road.<\/p>\n

The Waldorf area accounts for approximately half of Charles County’s population and 60 percent of its businesses. Waldorf Marketplace serves a population of more than 70,000 people residing within a 3-mile radius, with an average household income of $144,000, according to the new owner.<\/p>\n

A portfolio rich in grocery-anchored assets<\/h2>\n

The acquisition of Waldorf Marketplace marks First National Realty\u2019s fourth acquisition in the metro area. Last year, the firm acquired two grocery-anchored shopping centers<\/a> including the 287,000-square-foot Promenade at Manassas, in Manassas, Va.<\/p>\n

The investor has also been active in other markets across the U.S. Earlier this year, the company acquired a 304,935-square-foot retail center in Cullman, Ala.<\/a>, anchored by a Publix Food Store. At the end of last year, First National Realty also purchased a 259,104-square-foot, Target-anchored retail center<\/a> in West Hartford, Conn.<\/p>\n

According to the latest retail market report from JLL<\/strong>, retail tenants occupied nearly 76 million square feet of space in 2022, marking the highest absorption rate since 2017. The report also highlights that grocery-anchored retail centers were among the top-performing retail categories<\/a> in terms of new store openings last year.<\/p>\n","protected":false},"excerpt":{"rendered":"

A Safeway grocery store anchors the property.<\/p>\n","protected":false},"author":3030,"featured_media":1004652496,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,11,21742,21749,1615],"tags":[33222,51933,34103],"class_list":["post-1004652495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-midatlantic","category-latest","category-retail","category-washington-dc","tag-american-realty-advisors","tag-first-national-realty-partners","tag-safeway-inc"],"acf":[],"yoast_head":"\nFirst National Buys 360 KSF DC-Area Retail Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"First National Realty Partners has acquired Waldorf Marketplace, a 359,4840-square-foot grocery-anchored retail center in Waldorf, Md.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/first-national-buys-360-ksf-dc-area-retail-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First National Buys 360 KSF DC-Area Retail Asset\" \/>\n<meta property=\"og:description\" content=\"First National Realty Partners has acquired Waldorf Marketplace, a 359,4840-square-foot grocery-anchored retail center in Waldorf, Md.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/first-national-buys-360-ksf-dc-area-retail-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-22T08:40:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-22T08:40:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Waldorf-Marketplace.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"899\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Raluca Toma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/first-national-buys-360-ksf-dc-area-retail-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/first-national-buys-360-ksf-dc-area-retail-asset\/\",\"name\":\"First National Buys 360 KSF DC-Area Retail Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/first-national-buys-360-ksf-dc-area-retail-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/first-national-buys-360-ksf-dc-area-retail-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Waldorf-Marketplace.jpg\",\"datePublished\":\"2023-03-22T08:40:46+00:00\",\"dateModified\":\"2023-03-22T08:40:49+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1e908d9381f3929d1d57f95e4db8c529\"},\"description\":\"First National Realty Partners has acquired Waldorf Marketplace, a 359,4840-square-foot grocery-anchored retail center in Waldorf, Md.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/first-national-buys-360-ksf-dc-area-retail-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/first-national-buys-360-ksf-dc-area-retail-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/first-national-buys-360-ksf-dc-area-retail-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Waldorf-Marketplace.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Waldorf-Marketplace.jpg\",\"width\":1200,\"height\":899,\"caption\":\"Waldorf Marketplace. 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