Federal Realty extends Rockville Pike control with $72.3M deal

2026-03-25 21:53:04

Federal Realty (NYSE:FRT) acquired the Congressional North Shopping Center in Montgomery County, Maryland for $72.3 million on March 16, 2026. This acquisition expands Federal Realty’s contiguous control along Rockville Pike, strengthening its ability to curate tenancy and merchandising in a dense, affluent submarket. The grocery-anchored property, totaling approximately 176,000 square feet on 13 acres, is adjacent to Federal’s Congressional Plaza and features anchors such as Aldi, RH Outlet, Petco, and Staples.

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