Article: REIT purchases MD shopping center. (real estate investment trust acquires shopping center in Frederick, Maryland)

Hekemian and Company, Inc. of Hackensack, a New Jersey-based real estate investment firm, announced that one of its affiliates, First Real Estate Investment Trust of New Jersey, has acquired Westridge Square Shopping Center in Frederick, Maryland. The total purchase price for the 255,000-square-foot retail center was $27.1 million.

Robert S. Hekemian Jr., executive vice president, and Mark Kappa, vice president/Investments, both of Hekemian and Company, Inc., acted as consultants to the buyer. The seller, Westridge Square Associates, Ltd. Partnership, was represented by the developer, John F. Forstmann, president of J.F. Forstmann Company, ...

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