Naylor Parcel Trades: Berman is Retail Buyer at Route 5 Center
Berman Enterprises has acquired a shopping center that fulfills the timeless real estate adage about location – it’s near the Naylor Road Metro Station. The Rockville firm acquired the 128,000 square foot retail center at 3100 Branch Avenue, in Temple Hills, for an undisclosed price. On 14.5 acres, it sits just opposite the Metro Station on Route 5 at Naylor Road. Berman will manage the property as retail for the foreseeable future, but envisions redevelopment on the parcel, zoned as it is for mixed-use.
It is the Metro location that has attracted interest in the past and that Berman anticipates will yield that redevelopment. JBG had put the ground under contract for a time when the huge CIS solicitation came out several years ago, with hopes to land the nearly 600,000 square foot build-to-suit requirement. JBG went as far as entitling a site plan that would accommodate the building, but the award went to the other leading Green Line contender, at the Branch Avenue Metro Station.
Tenants at 3100 Branch include the roller-skating throwback Temple Hills Skating Plaza, which is still open and playing the hits as the skaters go round. The seller was Isaiah 58 Properties and Berman bought it as BE Isaiah LLC. The retail center is Berman’s second Naylor-area buy, for it acquired the property at 3225 Naylor Road, in 2014, for $800,000.
Barbara Richman Kahn, Jeff Ludwig and Sally Ludwig at NAI Michael brokered the sale.
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