KLNB announces $5.15M sale of Livingston Square Shopping Center in Prince George’s County
Washington, DC – KLNB announced the sale of Livingston Square Shopping Center, a 10.99 acre, Giant Food-anchored redevelopment site, from Retail Business Services (RBS), Giant Food’s real estate arm, to Velocity, LLC for $5.15 million. Andy Stape and Vito Lupo represented Fort Washington Oxon Hill LLC (RBS) on the sale, and in conjunction with Phil Ruxton procured the purchaser Fort Washington Livingston LLC (Velocity), in the transaction. The project will include a newly constructed, 43,000 s/f Giant Food grocery store, drive-thru pad restaurant locations for McDonald’s, KFC and Taco Bell, as well as 20,100 s/f of newly constructed retail space in two buildings serving the desirable Fort Washington suburb of Washington, DC. “As we continue to adjust to our ‘new normal,’ access to fresh food is essential. We are proud to play a part in bringing a brand new, much-needed Giant grocery store to Prince George’s County, an underserved market whose residents have far too many food deserts,” said Lupo. “We have seen the demand for grocery stores surge and this new Giant, with its variety of services, will serve useful to the community in this environment.” The redeveloped Giant Food will provide a variety of new selections and services including more organic produce.