A Giant grocery store that opened more than four decades ago in Prince George’s County is slated for a major renovation.
Velocity Cos. announced Thursday it acquired the Giant-anchored Livingston Square shopping center in Fort Washington from Giant’s real estate arm.
A Velocity spokesperson tells Bisnow it acquired the 11-acre property for $5.2M and plans to invest additional money in the renovation. KLNB represented Velocity in the deal.
Giant announced last year it plans to redevelop the 43K SF store, which originally opened in 1976. Greenbelt-based Velocity acquired the property after a competitive bidding process, it said in a statement.
The 73K SF Livingston Square shopping center at 9580 Livingston Road features the Giant plus inline retailers and stand-alone buildings with a KFC, a Taco Bell and a McDonald’s. It also has two pad sites available for lease, one with 15K SF of development potential and one with 5K SF.