Lincoln Property Company announced that it has acquired Cityline at Tenley, an 87,460-square-foot retail center in Washington, D.C.’s Upper Northwest D.C. submarket. The facility, which is 100 percent leased, is anchored by Target, and sits atop the Tenleytown Metrorail Station.
“While real estate transactions have remained tempered due to the pressures of high interest rates, the fundamentals of necessity-based retail continue to strengthen,” said Jim Dillavou, head of retail investments and retail capital markets at Lincoln. “Retail is a hyper-local business, and this was a unique opportunity to acquire an asset with a strong tenant base in a fantastic retail trade area.”
The facility’s other tenants are Ace Hardware, Bank of America, The Container Store and The Framing Studio. The center has direct access to downtown D.C. and Maryland suburbs via the metro and the Wisconsin Avenue thoroughfare.
