Velocis Purchases Brandywine Crossing Retail Center in MarylandJune 27, 2018
Grocery-anchored shopping center provides regional draw and high visibility
Brandywine, Md. – (June 27, 2018) – Velocis, a private equity real estate manager, in partnership with Katz Properties, has acquired Brandywine Crossing, a 230,925-square-foot Class A retail center located at 15922 Crain Highway in Brandywine, Md.
“Brandywine Crossing represents an opportunity to acquire a grocery-anchored shopping center in a burgeoning community near Washington, D.C. Acquiring assets in this metro area is an integral part of Velocis’ investment strategy,” said Paul Smith, Velocis partner. “The property’s visibility assists in capturing the surrounding consumer market through unmatched traffic, and it represents a dominant retail destination.”
Brandywine Crossing is located approximately 20 miles southeast of Washington, D.C. within Prince George’s County, one of the fastest-growing areas in the country. Its strategic placement along Brandywine’s main thoroughfare, Crain Highway (Route 301), provides high accessibility and visibility with roughly half a mile of frontage. The open-air retail center is anchored by Safeway, Marshalls, Target and Costco. Katz Properties will provide management services for the property.
Brandywine Crossing represents the fifth acquisition in the Washington, D.C. Metro area made by Velocis. In 2015, the firm purchased Loudon Gateway II and III, two Class-A suburban office buildings in Sterling, Va., and Shirlington Tower, a Class-A office building in Arlington, Va. In 2017, Velocis acquired 3120 Fairview Park, a Class-A office building in Falls Church, Va. Earlier in June of this year, Velocis purchased Greensboro Park, a two-building office complex in Tysons, Va. in 2018.
Dallas-based Velocis has been active in real estate investment since 2011, purchasing 28 assets in select markets in Texas, Arizona, Colorado, Georgia, Florida, North Carolina and the Washington, D.C. Corridor. Velocis is led by a team of five seasoned partners who are directly responsible for the acquisition, asset management and disposition of assets. The partners of Velocis are Fred Hamm, Mike Lewis, David Seifert, Paul Smith and Jim Yoder.
Velocis consists of two entities: Velocis Funds and Velocis Advisors. Velocis Funds are private equity real estate funds, active in the acquisition, operation/management, and disposition of commercial real estate in the United States. Additionally, Velocis Advisors provides asset management and advisory services to both investors and real estate clients. Additional information about Velocis can be found at velocis.com.
About Katz Properties
Katz Properties is a real estate investment, development and management company with offices in Connecticut, Florida, Massachusetts, New Hampshire, New York, Pennsylvania and Virginia that focuses on the acquisition, operation and repositioning of retail shopping centers on the East Coast. Katz Properties will serve as the property management company for Brandywine Crossing. Additional information about Katz Properties can be found at katzproperties.com
This does not constitute an offer to sell, or a solicitation of any offer to buy any securities or investment advice, nor is it intended to be a description of all material factors an investor should consider before making any investment.