The Velocity Companies Partners with Giant Food to Create Healthier Communities in Southern Prince George’s County
FORT WASHINGTON, MD (November 12, 2020) – After participating in a highly competitive bidding process,Velocity Companies (Velocity) has announced the acquisition and revitalization of Livingston Square Shopping Center. To create healthier communities and eliminate food deserts, Giant Food will serve as the anchor of this shopping center project in its newly renovated 43,000 SF site nestled along Indian Head Highway.
Represented by KLNB, a leading provider of commercial real estate services throughout the mid-Atlantic region,Velocity purchased Livingston Square Shopping Center, a 10.99-acre site, from Retail Business Services (RBS), Giant Food’s real estate arm. Located at 9580 Livingston Road, in Fort Washington, MD, this reconfiguration project, once completed, will bring more than 73,000 SF of new construction to the center.
“As a Prince George’s County-based business, we are thrilled to expand our impact in our very own backyard,” said Brandon Bellamy, CEO, The Velocity Companies. “In addition to new retail and services, this project will bring a new and improved Giant to a community with limited grocery store options. Driven by our commitment to providing a significant impact in under-invested communities, Velocity Companies will continue to boldly pursue projects, such as Livingston Square, that champion the health and vitality of local economies.”
Upon completion, the redeveloped Giant Food will house a variety of new and expanded selections and services, including more organic produce, a new and larger Natural Food department, and a full-service pharmacy with Giant’s new Pick-Point system, all aimed to encourage the continued health and wellbeing of the community. For added convenience, the site will also offer Giant Pickup online ordering services. Additionally, the store will feature full-service floral, deli, prepared foods, bakery, seafood, and meat departments, with healthy options for the whole family. Giant Food is scheduled to open in the fourth quarter of 2021.
“Giant Food opened its original store in Livingston Square on November 17, 1976, and we are excited to partner with Velocity Companies to build an incredible new store for this amazing community,” said Ira Kress, President of Giant Food. “Our brand-new store with state-of-the-art amenities, great food, amazing service, and an incredible customer experience reconfirms our commitment to the communities we are very privileged to serve. With over 70 years of serving Prince George’s County, we are eager to rebuild this store and thrilled to continue to support the Livingston Square community.”
To build upon an on-going leasing partnership with Velocity, KLNB will serve as the Exclusive Leasing Agent for Livingston Square. For retail leasing opportunities, contact Phil Ruxton, email@example.com, 202-420-7777 or Alex Lyles, firstname.lastname@example.org, 301-910-9266.
About Velocity Companies:
The Velocity Companies is an impact-driven company that specializes in real estate investment and property development. The Velocity team brings extensive experience and a proven track record of success in commercial real estate development, community development, investment, finance, and project management. The Velocity Companies has developed and consulted on projects located in the Mid-Atlantic and the Carolinas with an aggregate asset value exceeding $500 million. For more information, visit www.thevelocitycompanies.com.
About Giant Food:
Giant Food is headquartered in Landover, Md. and operates 164 supermarkets in Virginia, Maryland, Delaware, and the District of Columbia with approximately 20,000 associates. Included within the 164 stores are 153 full-service pharmacies, 82 full-service PNC Banks and 25 Starbucks locations. With flexible options and convenient solutions, Giant fits all the ways today’s busy consumers want to shop – whether in store, via Giant Pickup or home delivery from Giant Delivers which combined serves 157 store locations. For more information on Giant, visit www.giantfood.com.
KLNB is a leading provider of commercial real estate services throughout the mid-Atlantic region. An independently owned and operated commercial brokerage and real estate services firm, KLNB provides a variety of services including tenant and landlord representation, leasing, consulting, investment sales, property management, research, marketing, branding and financing services. More than 85 full-time brokerage professionals work across KLNB’s four offices strategically located throughout the Washington, D.C. / Baltimore region. KLNB is affiliated with NAI Global – the single largest, most powerful global network of owner-operated commercial real estate brokerage firms in the world. http://klnb.com