The Potomac Promenade, a shopping center located at 9812 Falls Rd., has sold for approximately $77.4 million, according to a report by Maryland Newsletters.
The shopping center is located at Falls Rd and River Rd, across from Potomac Place Shopping Center (anchored by Safeway) on one side and diagonal to Potomac Village Shopping Center (where Hunter’s Inn is located) on the other. Potomac Promenade is anchored by Giant and is home to several businesses, including Potomac Pizza, Wells Fargo, FireWok, Five Guys and more.
According to the report, the purchase was made by an affiliate of Carrollton Enterprises from a partnership headed by Sarofim Realty Advisors. “Carrollton would not speak to the details of the transaction, but deeds recorded in the Land Records show the acquisition was broken into four deeds, for the primary center, the commercial townhouses and the assignment of two ground leases.” The deal includes approximately 91,000 SF of retail and a small commercial townhouse complex. Rappaport will take over leasing, which was previously handled by CBRE.