Federal Realty Investment Trust has announced the sale of Courthouse Center, a 33,000SF shopping center in Rockville, for $10 million.
The property, located at 12 N. Washington Street in Rockville, includes several restaurant tenants such as Pelicana Chicken, Subway, Eerkin’s, and East Dumpling House. The transaction comes just a few months after Federal Realty sold Pallas at Pike & Rose, a residential building located within the North Bethesda mixed-use development, for $125 million.
Maryland Newsletters identified the buyer as Gaithersburg-based RHZW Investments LLC. The company is headed by Zixin Wu Ren. Future plans for the center have not been made available. Federal Realty originally acquired Courthouse Center in 1997 for $3.5 million. Back in 2022, Federal Realty sold nearby Rockville Town Square (now The Square) to Morguard for $33 million.
