Federal Realty Investment Trust announced it has acquired the Congressional North Shopping Center in Rockville for $72.3 million.
The property, located along Rockville Pike next to Congressional Plaza, includes approximately 176,000 square feet of retail space on 13 acres and is anchored by tenants including Aldi, RH Outlet, Petco, and Staples.
The acquisition expands Federal Realty’s existing portfolio along the Rockville Pike corridor, where it already owns several nearby retail centers. Company officials said the purchase adds to its presence in the area and provides additional opportunities to manage and lease retail space across its properties in the corridor…