STAMFORD, CT April 22, 2021 – AmCap, Incorporated, a vertically integrated private equity real estate firm, is pleased to announce the acquisition of Manokeek Village Center, a 74,470-square-foot, grocery-anchored, small-format shopping center in the Washington, D.C. suburb of Accokeek, Maryland. The property was acquired in a limited marketing process and adds another well-located asset to AmCap's growing portfolio of premier real estate assets throughout the United States.
Completed in 2003, Manokeek Village Center is 96% leased to Giant, the No. 1 grocer in the Washington, D.C. area, along with a diverse mix of other tenants that include Starbucks and Advance Auto Parts. The site has a potential expansion and development opportunity with an undeveloped 1.3-acre pad site included in the sale.
Manokeek Village Center is situated on 15.82 acres at 7025 Berry Rd. in Accokeek, Maryland, a high-growth submarket approximately 12 miles south of Washington, D.C. It is on the “going home” side of Berry Road (Route 228) where it intersects with Indian Head Highway (Route 210), exposing the center to 83,000 vehicles per day.
Jake Bisenius, President and CIO of AmCap said, "The Manokeek Village Center is an exceptional asset that we were fortunate to acquire. The site captures the essence of our focus on acquiring well-located properties with tenants that are essential businesses that serve daily needs, are internet resistant and are established members of their respective communities. The AmCap team is excited to be a part of the Accokeek community and we look forward to working with Giant and other local stakeholders to ensure the continued success at this location."
About AmCap Necessity Retail Fund LLC
AmCap Necessity Retail Fund LLC was formed for the principal purpose of acquiring, managing, leasing, operating, developing and disposing of premium core-plus necessity retail shopping centers, typically with a grocery anchor, located in the top 100 metropolitan statistical areas in the United States with strong job growth, higher income and densely populated neighborhoods with high barriers to entry. AmCap Management LLC, a Delaware limited liability company, serves as the manager of AmCap Necessity Retail Fund LLC. AmCap, Incorporated, a Connecticut corporation, is the managing member of AmCap Management LLC. Founded in 1979, AmCap, Incorporated is a vertically integrated private equity real estate firm that owns and/or operates grocery-anchored and necessity retail shopping centers nationwide, with a current portfolio size of 4.5 million square feet spread across 23 properties in 8 states, with approximately $1 billion in total property value.
AmCap Necessity Retail Fund LLC is currently conducting a private placement offering to accredited investors only, with a maximum offering amount of $100,000,000. For more information, please contact AmCap at (203) 327-2001 or email@example.com.