AmCap Inc., a private equity real estate firm, has bought First Colony Center, a 98,179-square-foot, grocery-anchored shopping center in the Washington, D.C. suburb of California, Md.
First Colony is located on a main retail corridor in St. Mary’s County. The addition of First Colony brings AmCap’s Washington, D.C.-area presence to five grocery-anchored centers. First Colony is the third acquisition purchased through a joint venture with Encore Enterprises.
“In addition to having high-performing junior anchor tenants including Michaels and Advance Auto Parts, First Colony is shadow anchored by Target, Lowe’s and BJ Wholesale Club, who help drive foot traffic to the center,” states Jake Bisenius, president and CIO of AmCap.