Federal Realty Buys Aldi-Anchored Congressional North for $72.3 Million
The adjacent purchase to Congressional Plaza consolidates the REIT’s Rockville Pike holdings into a contiguous cluster for coordinated merchandising.
Overview
- The 176,000-square-foot shopping center sits on 13 acres at 1501–1519 Rockville Pike directly next to Federal Realty’s Congressional Plaza.
- Aldi, RH Outlet, Petco and Staples anchor the four-building property, with additional tenants including Michaels, My Salon Suite and umisushi.
- The acquisition makes this Federal Realty’s fifth property along the corridor, joining Congressional Plaza, Federal Plaza, Montrose Crossing and Pike & Rose.
- CEO Don Wood said the deal gives the company control of key retail nodes from Bethesda through Rockville, enhancing its ability to curate tenants across the area.
- Commercial Observer reports the seller as Cohen Siegel Investors, and the move follows Federal Realty’s recent Maryland portfolio reshaping, including the $187 million Annapolis Town Center purchase.