Federal Realty Acquires $72.3M Congressional North Shopping Center Adjacent to Congressional Plaza

Federal Realty Investment Trust acquired Congressional North Shopping Center in Montgomery County, Maryland, for $72.3 million. The grocery-anchored property spans approximately 176,000 square feet of retail on 13 acres and is located immediately adjacent to Federal Realty's existing Congressional Plaza. Key tenants include Aldi, RH Outlet, Petco, and Staples. The acquisition deepens Federal Realty's presence along Rockville Pike (Route 355), the Washington DC metro region's most established commercial corridor, where Federal now owns Congressional Plaza, Federal Plaza, Montrose Crossing, and Pike & Rose - effectively controlling the key retail nodes from Bethesda through Rockville. - Federal Realty Investment Trust (NYSE: FRT): One of the oldest and most respected retail REITs in the U.S., founded in 1962. As of end-2025, Federal Realty owns 104 properties with 3,700 tenants across 28.8 million commercial square feet. CEO Don Wood described the acquisition as "a highly strategic addition." Federal Realty funded the acquisition using its corporate balance sheet; no external deal financing details disclosed.