Federal Realty Investment Trust Purchases Twinbrooke Shopping Centre in Fairfax, Virginia for $33.8M
FAIRFAX, VA. — Federal Realty Investment Trust has purchased Twinbrooke Shopping Centre, a 110,000-square-foot, grocery-anchored neighborhood shopping center in Fairfax. The undisclosed seller sold the asset to Federal Realty for $33.8 million.
Located at 9525 Braddock Road, Twinbrooke Shopping Centre was 86 percent leased at the time of sale to tenants such as anchors Safeway and Walgreens. Other tenants include Outback Steakhouse, Pho Saigon 75, Waraku Japanese Restaurant, Potomac Valley Veterinary Hospital, Twinbrook Music Inc., Hair Xpressions Fairfax and 153 Barber Shop. The property is situated on 10 acres off Braddock Road (VA Route 620), which is a main east-west thoroughfare providing access to Interstate 495.
Federal Realty anticipates increasing the value of Twinbrooke over time through remerchandising and incremental capital investment.