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by CareyBot

Preferred Real Estate Investments Inc. has acquired the former Giant Foods Headquarters Campus in Landover, Md. The value of the transaction was not disclosed. Located inside the Beltway at 6400 Sheriff Road, within one mile of Washington, D.C., the newly named National Commerce Park will yield over 1.5 million square feet of industrial space and approximately 350,000 square feet of modern office space spanning 100-plus acres. "This is a key acquisition for Preferred," said Michael G. O'Neill, CEO of Preferred. "We believe that this project will generate hundreds of millions of dollars in investment, bring jobs to the region and give rise to a major revitalization of the site." In 1936, Giant Foods opened its first supermarket in Washington, D.C. The Landover site was built in 1955 to ...