Federal Realty, a US based SJE Group investment, has acquired the Georgetowne Shopping Center; a 147,000 square foot grocery anchored neighborhood shopping center with surface parking on 9-acres in Brooklyn, New York.
Georgetowne Shopping Center is currently 90% occupied and is anchored by specialty grocer Fairway Market and Five Below, with a strong small shop roster led by Starbucks and Chipotle.
The Property features an advantageous amount of accessible surface parking in comparison to other shopping alternatives in the market which mainly rely on street and structured parking. In addition, Georgetowne Shopping Center's location exhibits strong demographics and high barriers to entry all of which are consistent with our investment strategy.
The SJE Group congratulates the entire Executive team at Federal Realty for this acquisition.