Asana Partners has paid $39 million for Sam’s Park & Shop, a fully leased, 50,355-square-foot retail center anchored by an urban-format Target store in the Cleveland Park area of Washington, D.C.
The seller was Federal Realty Investment Trust.
Constructed in 1931, Sam’s Park & Shop is a designated Historic Landmark, as it was one of the first retail centers designed around the automobile. The retail property — the leading retail destination for the Cleveland Park neighborhood — last sold in 1995 and currently is anchored by a new, urban-format Target store. The center is also home to a diverse mix of first-class credit tenants alongside local favorite food and service-based retailers. Additionally, the property boasts 50 surface parking spaces, a rarity in Northwestern D.C.
Situated on 1.19 acres at 3501–3529 Connecticut Ave., Sam’s Park & Shop is on the “going home” side of a heavily trafficked commuter corridor that sees approximate
