Federal Realty Buys Rockville’s Congressional North for $72.3 Million
The purchase strengthens the REIT’s grip on Rockville Pike’s prime retail corridor, enabling coordinated merchandising across adjacent properties.
Overview
- Federal Realty acquired the 176,000-square-foot, four-building center on 13 acres immediately next to its Congressional Plaza.
- The grocery-anchored property features Aldi, RH Outlet, Petco and Staples among its tenants.
- The deal makes this Federal Realty’s fifth asset along Rockville Pike, joining Congressional Plaza, Federal Plaza, Montrose Crossing and Pike & Rose.
- CEO Don Wood said the company now controls key retail nodes from Bethesda through Rockville, enhancing flexibility to curate tenancy across the corridor.
- Cohen Siegel Investors was identified as the seller by Yardi Matrix, and the single-story center was completed in 1997 near 1519 Rockville Pike.