12C — March 29 - April 11, 2013 — The Best of 2012 — Mid Atlantic Real Estate Journal www.marejournal.com The Largest RetailAcquisition of 2012
WP Realty Oak Park Commons South Plainfield, NJ — 136,939 sf —
Katz Properties Westgate Plaza Manassas, VA — 171,909 sf —
Katz Properties East River Park Washington, DC — 150,582 sf —
Westgate Shopping Center in Manassas, VA is anchored by a Giant Supermarket and Barnes and Noble. Other notable tenants are CVS, Fauquier Bank, Panera, Hour Eyes, Banfield Animal Hospital and Cold Stone Creamery. Westgate also features additional food, beverage and beauty retailers, making it the dominant full service neighborhood center in the area. Reno- vations to the façade are planned along with a new restaurant in place of the recently shuttered Marlin & Ray’s. Westgate Shopping Center is located on Sudley Road/Route 234, which is one of the most highly travelled state routes in the northern Virginia market. Westgate Shopping Center in Manassas, VA
East River Park in Washington D.C.
WP Realty and Angelo Gordon & Co. acquired Oak Park Commons, a 136,939 square foot community shopping center located in South Plainfield, New Jersey. In addition to A&P Supermarket in 60,025 square feet, the center boasts a tremendous mix of regional and national tenants, including CVS, Radio Shack, Wells Fargo, McDonald’s, and Goodyear. With a vacancy of nearly 25% at the time of ac- quisition, WP Realty has been successful in adding occupancy and is confident that the quality and loca- tion of the asset will allow the leasing momentum to continue well into 2013. Oak Park Commons
East River Park in Washington D.C. is anchored by a Safeway supermarket and CVS. Located across from the newly built Minnesota Avenue Metro station, and adjacent to apartments & office buildings and a recently constructed public library, East River Park is at the leading edge of Washington DC’s revitaliza- tion efforts. The retailer mix reflects a true neighbor- hood shopping center including dining options, soft goods retailers, banking and beauty solutions. The property has the opportunity to be redeveloped over time and has tremendous upside in the current rents for growth.
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TURNING VISION INTO VALUE
ACQUISITION, RENOVATION, AND DEVELOPMENT ENCOMPASSING 38 SHOPPING CENTERS, 8 MILLION SF OF RETAIL IN 10 STATES
WP REALTY is proud to have received The Mid-Atlantic Real Estate Journal's “Best of 2012” top honors in two categories for mid-sized firms: Largest Retail Acquisition and Largest Retail Sale.
Corporate Headquarters 940 Haverford Road Bryn Mawr, PA 19010
Leasing James Stevenson jstevenson @ wprealty.com 610-552-6093
Acquisitions Jeff Hoffman, CCIM jhoffman @ wprealty.com 610-552-6038
610-552-6000 wprealty.com
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