First National Realty Partners has announced the acquisition of the 359,484-square-foot Waldorf Marketplace in Waldorf, Md., for its grocery-anchored property portfolio. The financial terms and seller were not disclosed.
Waldorf Marketplace is anchored by a 58,092-square-foot, market-dominant Safeway grocery store, a subsidiary of Albertsons, which has been a tenant since 2005. In addition to Safeway, the center features a high-quality mix of national and regional retailers including Hobby Lobby, Jared, Petco, Starbucks, Wells Fargo, Red Robin, TGI Fridays, Bath & Body Works and Famous Dave's. The remaining vacant space in the center provides meaningful upside potential for First National Realty Partners to drive value by way of increased occupancy levels and enhanced cash flow.
"With its high-quality tenan
