Weingarten Realty Investors makes first foray into Washington, D.C., market
- December 5, 2011
A Houston-based real estate investment trust has picked up its first property in the Washington, D. C., real estate market. According to the Washington Business Journal, Weingarten Realty Investors has entered into a partnership with a local owner of an Alexandria shopping center targeted to have a future Wegmans grocery store.
The Journal reported that Weingarten purchased the 33-acre Hilltop Village Center for $13.6 million from Hilltop Sand and Gravel Co. Inc. Located next to Fort Belvoir’s northernmost gates, Hilltop is a planned, mixed-use project that has drawn interest from Rochester, N.Y-based Wegmans for what would be its second store in the D.C. region. Hilltop is 65 percent preleased and will have 113,000 square feet of office space and retail including two banks, restaurants, a day spa and dentist office. The site is being readied for construction now.