Velocis, Katz Acquire MD Retail Center
- Jun 29, 2018
In a partnership with Katz Properties, Velocis has acquired Brandywine Crossing, a Class A retail center in Brandywine, Md. Katz will also be providing property management services for the property.
Located at 15922 Crain Highway, the building comprises 230,925 square feet. Brandywine Crossing is anchored by Safeway, Target, Marshalls and Costco. The location offers nearby access to the Crain Highway and Washington, D.C., within Prince George’s County.
“Brandywine Crossing represents an opportunity to acquire a grocery-anchored shopping center in a burgeoning community near Washington, D.C. Acquiring assets in this metro area is an integral part of Velocis’ investment strategy,” said Paul Smith, partner at Velocis, in a prepared statement.
Brandywine Crossing is Velocis’ fifth investment within the Washington, D.C., metro area. Earlier this month, the firm partnered with Altus Realty to acquire the 500,000-square-foot Greensboro Park, a two-building office complex in Tysons, Va.
Image courtesy of Velocis