Federal Realty Investment Trust, a retail-focused real estate investment trust based in Bethesda, Maryland, has sold an eight-building shopping and office hub on Santa Monica’s Third Street Promenade in California. XYZ Rent, a locally based property manager and developer, purchased the portfolio for $103 million, or about $557 per square foot.
Federal Realty Investment Trust Sells Last of Santa Monica Retail Portfolio
Bethesda, Maryland-based REIT Divests Itself of Eight California Properties
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IN THIS ARTICLE
- Properties
- Club Monaco
1225 3rd Street Promenade, Santa Monica, CA
- Zumiez
1344 3rd Street Promenade, Santa Monica, CA
- Gold's Gym
1202 3rd Street Promenade, Santa Monica, CA
- Companies
- Federal Realty Investment Trust
Real Estate
- Newmark
Real Estate
- Eastdil Secured, LLC
Real Estate
- Contacts
- Daniel Pickart
Senior Managing Director, Newmark