Vienna, VA—(September 22, 2021) – Rosenthal Properties today acquired 8 shopping centers from Washington Real Estate Investment Trust for $168.3 million. This is one of the largest retail acquisitions in this region since the beginning of the pandemic.

The 700,000 square foot portfolio includes investment grade properties in Maryland, Washington, DC and Virginia that Rosenthal acquired in a partnership with an institutional investor.

The Rosenthal venture now owns Spring Valley Village and Chevy Chase Metro Center (DC); Montrose Shopping Center, Randolph Shopping Center, Takoma Park Shopping Center and Westminster Shopping Center (MD); and Concord Centre and the 800 Block of South Washington Street (VA). With this acquisition, Rosenthal solidified its position as one of the largest operators of retail properties in the entire Washington region.

Four of the centers are grocery-anchored, with major tenants including Giant Food, Mom’s Organic Market, Food Lion and Aldi.

A variety of national, regional and local tenants leases the balance of the portfolio, including popular destinations such as Crate & Barrel and Millie’s (Spring Valley); Michaels (Chevy Chase Metro); Planet Fitness (Concord Centre) and Southside 815 (South Washington Street).

All of the properties are in established geographic areas with high barriers to entry. The Rosenthal venture is planning a wide range of capital improvements to further enhance each property’s profile in the marketplace, and attract new tenants that provide increased traffic.

“This was a unique opportunity to acquire a large portfolio of established and well-leased retail centers in the greater Washington, DC area,” said Glenn Rosenthal, President of Rosenthal Properties. “We felt like the time was right to increase our retail footprint, as retailers continue to rebound from the pandemic.”

“Adding these assets to our already robust retail portfolio will enable us to attain economies of scale that few other owners or operators in our region are able to achieve,” Rosenthal said.

Rosenthal said investors are seeking opportunities to acquire well-located and mature properties whose value may increase as the result of strategic upgrades and enhancements. Rosenthal has acquired other similar properties during the past 10 years that continued to perform well despite the real estate downturn caused by the Covid-19 pandemic.

“We have been in close touch with all our tenants throughout the pandemic,” Rosenthal said. “Our management and leasing teams successfully worked through a lot of unprecedented challenges, and we’re hopeful recent trends will continue.”

This acquisition comes just one month after the company’s acquisition of a 735,000 square foot industrial portfolio in Woodbridge VA for $104 million. “We’re fortunate to be able to capture acquisition opportunities at this unique stage in the investment cycle,” Rosenthal said.

Rosenthal said the Featherstone acquisition enabled the company to capture an opportunity to acquire industrial assets at a time when vacancy rates in the industrial sector continue to decline.

Rosenthal said he will continue to explore new investment opportunities in the retail and industrial sectors. “We plan to make additional strategic acquisitions in the coming months,” he said.

Rosenthal Properties will operate, manage and lease both portfolios.

About Rosenthal Properties:

Founded in 1999 by Glenn Rosenthal, a 40-year veteran of the real estate business, Rosenthal Properties, with approximately 60 employees, is one of the Washington area’s most reputable, fully integrated commercial real estate firms. Rosenthal Properties offers its clients a full range of services, including property management, leasing and construction management. Rosenthal Properties owns, leases or manages a portfolio of more than 8 million square feet of investment-grade retail centers, industrial parks and office buildings throughout Virginia, Maryland, and Washington, DC, both with its own capital and in partnerships with respected institutional investors. For additional information on the full scope of Rosenthal     Properties’     services,     visit     Contact: Greg Jacobsen: 703.893.1242