First Washington Realty Invests $65M+ to Expand Grocery-Anchored Shopping Center Portfolio in Midwest

Acquires Village of Blaine in Minnesota and Liberty Corners in Missouri

BETHESDA, Md.--(BUSINESS WIRE)--First Washington Realty (“FWR” or the “Company”), a vertically integrated, institutional real estate investment firm focused on high-quality grocery-anchored and necessity-based shopping centers, has acquired two grocery-anchored shopping centers in Minnesota and Missouri for a combined value in excess of $65M. The acquisitions expand FWR’s portfolio to 21.9 million square feet across 21 states.

• The Village of Blaine is a 220,685-square-foot grocery-anchored shopping center, well-recognized as one of the Twin Cities' leading neighborhood shopping destinations, attracting approximately 3.3 million annual visits. Located at the intersection of Interstate 35W and Lexington Avenue, the center sits within one of the fastest-growing areas in the Minneapolis-St. Paul metro area, supported by more than 1,700 planned homes, rising household incomes, and continued investment throughout the surrounding community. The center also benefits from proximity to major regional destinations, including the National Sports Center, TPC Twin Cities, and Aveda's corporate headquarters, located in Blaine.
• Liberty Corners is a 124,808-square-foot shopping center anchored by a 56,000-square-foot Cosentino’s Price Chopper grocery store. Located along State Highway 291, just over a mile from Liberty Triangle, the property serves an affluent and highly educated customer base and benefits from strong visibility, daily traffic, and enduring demand for grocery-anchored retail. The center features a mix of personal services businesses and restaurants, including Chipotle Mexican Grill and The Big Biscuit, and benefits from strong visibility and traffic along a major state highway. 

“We are thrilled to acquire The Village of Blaine and Liberty Corners, both of which are exceptional grocery-anchored centers that serve as essential retail destinations within their respective communities,” said Amrit Chase, Senior Vice President of Investments at First Washington Realty.

“The Village of Blaine demonstrates our ability to identify properties within rapidly growing suburban markets with proven consumer demand and long-term value creation opportunities. Additionally, Liberty Corners expands and deepens our presence in Kansas City, where we have been investing for over a decade and have built a longstanding relationship with the Cosentino family, whose Price Chopper brand has served the community for generations."

The acquisitions of The Village of Blaine and Liberty Corners reflect FWR's singular focus on investing in well-located neighborhood shopping centers and community fixtures that serve as everyday destinations for shopping, dining, and services. The Company’s leasing, operations, and asset management teams will work to ensure the continued success of both properties within their respective communities.

About First Washington Realty

First Washington Realty (“FWR”) is a vertically integrated institutional real estate investment firm focused on high-quality grocery-anchored and necessity-based shopping centers. As an owner-operator, FWR leverages its discerning perspectives, deep operational expertise, and rigorous underwriting processes to execute investments in neighborhoods underpinned by strong demographics and high barriers to entry. With a national portfolio of 139 open-air properties totaling more than 21.9 million square feet across 21 states and Washington, D.C., FWR owns interests in and manages approximately $9.1 billion of assets. For more information, please visit www.firstwashingtonrealty.com.