Saul Centers Inc. acquired two grocery-anchored shopping centers totaling 276,000 square feet in Georgia and Maryland.


The total value of the transactions was $39.9 million.


Saul completed the acquisition of the 79,000-square-foot Cruse MarketPlace, located in Forsyth County, a rapidly growing suburb of Atlanta, Ga. Cruse MarketPlace was constructed in 2002, was 96 percent leased at the time of sale, and is anchored by a 44,000-square-foot Publix supermarket. The center was purchased for $12.6 million.


Saul added another Safeway-anchored shopping center with the acquisition of Briggs Chaney Plaza in Silver Spring, Md. Briggs Chaney Plaza is a 197,000-square-foot neighborhood shopping center on Route 29 in Montgomery County. The center, constructed in 1983, was 91 percent leased at the time of sale and is anchored by a 45,000-square-foot Safeway supermarket and a 28,000-square-foot Ross Dress For Less. The property was acquired for $27.3 million.


Saul Centers is a real estate investment trust that operates and manages a real-estate portfolio of community and neighborhood shopping centers and office properties.


Send a Letter to the Editor for publication.
Send a comment or news tip to our
Please include the headline of the story.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Leaders from across the industry answered our call to come to Inman Connect and share essential advice for leveling up your 2021.SEE THE SPEAKERS×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription