Cohen & Steers and Lincoln Property Company Form Joint Venture on Cityline at Tenley Retail Center in Washington, D.C.
Cohen & Steers (NYSE:CNS) has formed a strategic joint venture with Lincoln Property Company to acquire Cityline at Tenley, a retail center in Washington D.C.'s affluent Tenleytown neighborhood. The property, anchored by Target, is situated above the Tenleytown Metro Station in a prime location.
The retail center benefits from strong demographics, including a 3-mile population of 207,000 with a median household income of $142,000. According to Greenstreet, the location ranks in the top 1% of zip codes and top 7% of submarkets for attractive strip center rankings.
The acquisition aligns with Cohen & Steers' view of an emerging retail renaissance, driven by high occupancy rates and limited new construction in the retail property sector.
Cohen & Steers (NYSE:CNS) ha costituito una joint venture strategica con Lincoln Property Company per acquisire Cityline at Tenley, un centro commerciale nel quartiere elegante di Tenleytown a Washington D.C. La proprietà, ancorata da Target, si trova sopra la stazione della metropolitana di Tenleytown in una posizione di primo piano.
Il centro commerciale beneficia di una forte demografia, tra cui una popolazione di 3 miglia pari a 207.000 con un reddito mediano delle famiglie di 142.000 dollari. Secondo Greenstreet, l’ubicazione si classifica nel 1% superiore dei codici postali e nel top 7% dei sottosettori per ranking attraenti dei centri commerciali di strip.
L’acquisizione è in linea con la visione di Cohen & Steers di una rinascita emergente del retail, guidata da alti tassi di occupazione e da una limitata nuova costruzione nel settore immobiliare al dettaglio.
Cohen & Steers (NYSE:CNS) ha formado una empresa conjunta estratégica con Lincoln Property Company para adquirir Cityline at Tenley, un centro comercial en el próspero vecindario de Tenleytown en Washington D.C. La propiedad, anclada por Target, se ubica justo sobre la estación de metro de Tenleytown en una ubicación privilegiada.
El centro comercial se beneficia de una demografía sólida, que incluye una población de 3 millas de 207,000 y un ingreso familiar medio de 142,000 dólares. Según Greenstreet, la ubicación se sitúa en el 1% superior de códigos postales y en el 7% superior de submercados para clasificaciones atractivas de centros comerciales type strip.
La adquisición se alinea con la visión de Cohen & Steers de un renacimiento minorista emergente, impulsado por altas tasas de ocupación y una limitada nueva construcción en el sector de bienes raíces minoristas.
Cohen & Steers (NYSE:CNS)는 Lincoln Property Company와 전략적 합작투자를 형성하여 워싱턴 D.C.의 부유한 Tenleytown 지역에 있는 Cityline at Tenley를 인수했다. 이 부동산은 Target가 주력으로, Tenleytown metro 역 위에 위치한 프라임 위치에 있다.
소매 중심지는 3마일 반경 인구 207,000명과 중위 가구 소득 142,000달러라는 강한 인구통계를 바탕으로 이익을 얻는다. Greenstreet에 따르면 이 위치는 우수한 스트립 센터 순위에서 우편번호의 상위 1%와 하위시장 중상위 7%에 속한다.
이번 인수는 높은 점유율과 소매 부문에서의 한정된 신규 건설이 주도하는 신흥 소매 르네상스에 대한 Cohen & Steers의 관점과 일치한다.
Cohen & Steers (NYSE:CNS) a formé une coentreprise stratégique avec Lincoln Property Company pour acquérir Cityline at Tenley, un centre commercial situé dans le quartier privilégié de Tenleytown à Washington D.C. La propriété, anchorisée par Target, se trouve au-dessus de la station de métro de Tenleytown dans un emplacement de premier choix.
Le centre commercial bénéficie de données démographiques solides, notamment une population sur 3 miles de 207 000 et un revenu médian des ménages de 142 000 dollars. Selon Greenstreet, l’emplacement se classe dans le top 1% des codes postaux et dans le top 7% des sous-marchés pour des classement des centres commerciaux en strip attractifs.
L’acquisition s’inscrit dans la vision de Cohen & Steers d’un renouveau du commerce de détail, porté par des taux d’occupation élevés et une construction neuve limitée dans le secteur de l’immobilier de détail.
Cohen & Steers (NYSE:CNS) hat mit Lincoln Property Company eine strategische Joint Venture gegründet, um Cityline at Tenley, ein Einzelhandelszentrum im wohlhabenden Viertel Tenleytown in Washington D.C., zu erwerben. Die Immobilie, von Target verankert, liegt über der Tenleytown-Metrostation in einer erstklassigen Lage.
Das Einzelhandelszentrum profitiert von starken Demografien, darunter eine 3-Meilen-Bevölkerung von 207.000 und ein medianes Haushaltseinkommen von 142.000 Dollar. Laut Greenstreet rangiert der Standort im Top-1%-Bereich der Postleitzahlen und im Top-7% der Untermärkte für attraktive Strip-Center-Rankings.
Die Akquisition steht im Einklang mit Cohen & Steers' Ansicht einer aufkommenden Einzelhandelsrenaissance, angetrieben von hohen Belegungsraten und begrenztem Neubau im Sektor der Einzelhandelsimmobilien.
Cohen & Steers (NYSE:CNS) قد شَكَّلت مشروعاً مشتركاً استراتيجياً مع Lincoln Property Company لاقتناء Cityline at Tenley، مركز تجزئة في حي Tenleytown المزدهر بواشنطن العاصمة. تمتاز الملكية بأنها تقيم فوق محطة مترو Tenleytown وهي في موقع مميز.
يستفيد المركز التجاري من بيانات سكنية قوية، بما في ذلك سكان خلال 3 أميال بلغوا 207,000 مع دخل فردي وسط قدره 142,000 دولار. وفقاً لـ Greenstreet، يقع الموقع في أعلى 1% من الرموز البريدية و أعلى 7% من الأسواق الفرعية لتصنيفات مراكز التسوق من نوع strip جذابة.
تتماشى الصفقة مع رؤية Cohen & Steers بإحياء تجارة التجزئة الناشئة، مدفوعة بنسب إشغال عالية وبناء جديد محدود في قطاع الممتلكات العقارية للبيع بالتجزئة.
Cohen & Steers (NYSE:CNS) 与 Lincoln Property Company 共同成立了一家战略性合资企业，收购位于华盛顿特区 Tenleytown 富裕社区的 Cityline at Tenley。该物业由 Target 为锚点，位于 Tenleytown 地铁站上方，地理位置优越。
该零售中心受益于强劲的人口结构，包括半径 3 英里的 人口 207,000 和 中位家庭收入 142,000 美元。Greenstreet 指出，该地点在邮编分布中处于 前 1%，在亚市场中处于 前 7%，在吸引人的街区中心排名中表现出色。
此次收购符合 Cohen & Steers 对新兴零售复兴的观点，该复兴由高入住率和零售物业领域的低新建量共同推动。
- Strategic location above Tenleytown Metro Station with high-performing Target anchor tenant
- Premium market demographics with median household income of $142,000
- Property located in top 1% of zip codes for strip center rankings
- Strong market fundamentals with high retail occupancy rates and limited new construction
- None.
Insights
Cohen & Steers' joint venture for a premium D.C. retail property capitalizes on retail's high occupancy and potential rent growth cycle.
This joint venture acquisition of Cityline at Tenley represents a strategic positioning by Cohen & Steers in what they believe is an emerging retail rent growth super-cycle. The property has several compelling attributes that align with premium retail investment criteria:
The center is anchored by a high-performing Target store, providing stable foot traffic and reliable anchor tenant income. Its location atop the Tenleytown Metro Station delivers exceptional transit-oriented accessibility – a key driver of consistent customer flow regardless of economic conditions.
The demographics are particularly notable, with the surrounding area ranking in the top 1% of zip codes for strip center investment potential according to Greenstreet research. The 3-mile radius boasts 207,000 highly educated residents with a median household income of
This acquisition aligns with Cohen & Steers' thesis that retail is entering a favorable supply-demand imbalance. With shopping centers becoming the most highly occupied commercial property type in the US while facing "virtually no new net construction," basic economics suggests substantial rent growth potential. This supply constraint paired with renewed retailer demand creates pricing power for well-positioned retail landlords.
For Cohen & Steers investors, this transaction represents the firm executing on its private real estate strategy, diversifying revenue streams beyond its traditional public securities focus. The joint venture structure allows them to access institutional-quality real estate while sharing risk and leveraging Lincoln Property Company's operational expertise.
Sitting atop the Tenleytown Metro Station and anchored by a high-performing Target store, the property attracts customers from a broad trade area and benefits from the immediate area's favorable demographics. It is situated in the affluent Uptown submarket that ranks highly for income, home value, education, and population density, with a highly educated 3-mile population of 207,000 and median household income of
James S. Corl, Head of the Private Real Estate Group at Cohen & Steers, said:
"We are pleased to acquire Cityline at Tenley, an attractively located, Target-anchored shopping center in northwest D.C. As retail property has become fully leased across the
As a result of many years of very low levels of retail property development, and the renewed demand for stores from re-invigorated retailers, shopping centers are now the most highly occupied of any major commercial property type in the US.3 To learn more about Cohen & Steers' shopping center investment thesis, please read our whitepaper: The Retail Renaissance has arrived in private real estate investing.
About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in
About Lincoln Property Company. Lincoln Property Company ("
Website: www.cohenandsteers.com
1 Source: CoStar
2 Source: GreenStreet Atlas analytics
3 Source: CoStar
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SOURCE Cohen & Steers, Inc.
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