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» Real Estate Weekly: WRIT closes acquisition of Gateway Overlook ...
Washington Real Estate Investment Trust of Rockville has acquired a 214,281-square-foot Class A shopping center in Columbia for $88.35 million. The seller was General Growth Properties.
Gateway Overlook is a 528,350-square-foot retail center anchored by Costco and Lowe’s Home Improvement. The space purchased by WRIT excludes the Costco and Lowe’s parcels. The property, built in 2007, is located immediately off I-95 at the intersection of Little Patuxent Parkway/Route 175 and Waterloo Road/Route 108 in Columbia. The property is 90 percent leased to 21 tenants, including national retailers Trader Joe’s, Best Buy and Office Depot, as well as Wachovia Bank and Capital One Bank.
WRIT anticipates that Gateway Overlook will benefit from significant job growth projected in the area as a result of Base Realignment and Closure relocating 22,000 new jobs to nearby Fort Meade between 2012 and 2014. Fort Meade is located approximately five miles southeast of Gateway Overlook.
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Washington County campaign contributions
Expenditures are listed as Washington County Pageants $55 (Ad), Supervisor of Elections $15.40 (petition verification), Ron the Sign Man $1680 (signs, magnets), GDS $879.54 (t-shirts), Hard Labor Church Project $100 (sponsorship), Vernon Middle School $50 (sponsorship), Windy Balloon Company $155.99 (balloons), Surplus Salvage $108.55 (lumber, nails), City of Vernon $25 (Ad.), GDS $447.26 (t-shirts), Independent Resources $848.48 (fans), Professional Printing $320.25 (printing), Surplus Salvage $51.01 (lumber), GDS $321 (t-shirts), Crossroads Publishing Inc. $59 (Ad), GDS $214 (t-shirts),Sunny Hills Golf and Country Club $18.19 (donation round of golf), Vernon Athletic Booster $50 (sponsorship), Party America $161.32 (helium tank rentals), Wausau Volunteer Fire Department $190 (as, fun day booth rental), City of Vernon $50 (booth rental), Ron the Sign Man $1258.32 (signs), Wal-Mart $6342 (candy), Wal-Mart $28.67 (flags), GDS $407.67 (t-shirts), Supervisor of Elections $5 (CD), Panhandle
