UrbanAmerica sells portfolio

UrbanAmerica L.P. has sold its portfolio of office/retail properties in the Washington, D.C., area for $48.5 million.

The seven revitalized properties, purchased in 2000, were fortified through an asset management campaign that included leasing to anchor retailers such as CVS, Footlocker, Giant Foods and Subway, along with stabilizing the office tenancy of D.C. government agencies. The properties are located in Landover Hills, Md., at 3907 Benning Road; 322 40th St.; 4528 Benning Road; 1500 Franklin St.; 4001-35 South Capitol; 3839 Alabama Ave.; and 6505 Annapolis Road.

Urban Retail Investors LLC purchased the portfolio.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.