Lincoln Property Company has recently completed the acquisition of Cityline at Tenley, a thriving 87,460-square-foot retail center located in Washington D.C.’s Upper Northwest submarket. The property boasts full occupancy and is anchored by popular retailer Target, with convenient access to the Tenleytown Metrorail Station.
According to Jim Dillavou, Lincoln’s National Head of Retail Investments and Retail Capital Markets, despite challenges posed by high interest rates in the real estate market, necessity-based retail remains strong. He further explains that this particular acquisition was a unique opportunity due to its prime location and strong tenant base.
Among Cityline at Tenley’s other tenants are Ace Hardware, Bank of America ,The Container Store,and The Framing Studio. With easy access via metro and Wisconsin Avenue to downtown D.C. as well as Maryland suburbs,Lincoln manages nearly 20 million square feet of retail assets throughout the United States.
This recent transaction marks another successful addition for Lincoln Property Company’s expanding portfolio without mentioning any specific platform or brand names.
