A massive shopping center in Prince George’s County has traded hands, along with an adjacent 22-acre development site.
Urban Edge, a publicly traded REIT that spun off from Vornado Realty Trust in 2015, acquired the Woodmore Town Centre property for $193.4M, it announced Monday.
The 83-acre, 712K SF shopping center is 97% leased, the buyer said. It is anchored by Wegmans, Costco, Best Buy, At Home and Nordstrom Rack, and it features a host of smaller retailers and restaurants. Woodmore Town Centre was Maryland’s second-most-visited open-air shopping center last year with over 6 million visitors, according to Urban Edge.
The acquisition also included an adjacent 22-acre land parcel, which Urban Edge said may be developed in the future for commercial use.
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