Bethesda, MD– March 11, 2026 — First Washington Realty (“FWR”) is pleased to announce the off‑market acquisition of the Lowes Foods grocery property located at 9600 Strickland Road in Raleigh, North Carolina. The property shadow anchors FWR’s existing investment, Harvest Plaza. Located in one of the fastest‑growing metropolitan areas in the United States, the acquisition provides FWR with long‑term control of the grocery anchor within a well‑established, high‑performing neighborhood shopping center situated in a high‑income trade area.
“The acquisition of the Lowes Foods parcel is a strategic addition to our portfolio, expanding our footprint in the strong Raleigh market,” said Amrit Chase, Senior Vice President of Investments. “By incorporating Lowes Foods into our ownership structure, we enhance control of the center and meaningfully increase the value of our existing asset.”
The Lowes Foods property totals 53,825 square feet and was originally constructed in 1995, with a renovation completed in 2016, reflecting continued reinvestment and long‑term viability. Combined with Harvest Plaza (Phase I), the consolidated property footprint offers over 150,000 square feet and is currently 100% leased.
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About First Washington Realty
First Washington Realty (“FWR”) is a vertically integrated institutional real estate investment firm focused on high quality grocery-anchored and necessity-based shopping centers. As an owner-operator, FWR leverages its discerning perspectives, deep operational expertise, and rigorous underwriting processes to execute investments in neighborhoods underpinned by strong demographics and high barriers to entry. With a national portfolio of 137 open-air properties totaling more than 21.5 million square feet across 21 states and Washington, D.C. FWR owns interests in and manages approximately $9 billion of assets. For more information, please visit www.firstwash.com.
