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First Washington Realty acquires California shopping center

First Washington Realty, a national real estate investment and management company based in Bethesda, announced Thursday the acquisition of Fairmont Shopping Center in Pacifica, California.

indexTerms of the deal were not disclosed.

The property sits at the key highly trafficked intersection of Hickey Boulevard and Skyline Boulevard in the San Francisco metropolitan area.

Fairmont Shopping Center contains 102,982 square feet of prime community-serving retail space and features two high performing anchor tenants, Safeway and Rite Aid.  The submarket benefits from exceedingly high barriers to entry, a growing population base and low retail per capita in the immediate trade area.

First Washington Realty currently owns 103 shopping centers with a value of more than $5.5 billion in 22 states and the District of Columbia. Its centers contain approximately 13.8 million square feet with approximately 2,500 tenants. In addition to its Bethesda headquarters, the company has offices in Dallas, Kansas City and San Diego.

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