Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

Laser Focus World Membership

Never miss any articles, videos, podcasts, or webinars by signing up for membership access to Laser Focus World online. You can manage your preferences all in one place—and provide our editorial team with your valued feedback.

Magazine Subscription

Can you subscribe to receive our print issue for free? Yes, you sure can!

Newsletter Subscription

Laser Focus World newsletter subscription is free to qualified professionals:

The Daily Beam

Showcases the newest content from Laser Focus World, including photonics- and optics-based applications, components, research, and trends. (Daily)

Product Watch

The latest in products within the photonics industry. (9x per year)

Bio & Life Sciences Product Watch

The latest in products within the biophotonics industry. (4x per year)

Laser Processing Product Watch

The latest in products within the laser processing industry. (3x per year)

Get Published!

If you’d like to write an article for us, reach out with a short pitch to Sally Cole Johnson: [email protected]. We love to hear from you.

Photonics Hot List

Laser Focus World produces a video newscast that gives a peek into what’s happening in the world of photonics.

Following the Photons: A Photonics Podcast

Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Urban Edge Properties Acquires Woodmore Towne Centre in the Greater Washington, D.C. Market for $193.4 Million

--Advances Strategy of Acquiring High-Quality, Infill Real Estate in Company’s Core Markets--

Urban Edge Properties (NYSE: UE) today announced that it has acquired Woodmore Towne Centre (“Woodmore"), a 712,000 square foot grocery-anchored, regional power center located on 83 acres in Glenarden, MD along with an adjacent 22-acre land parcel. The transaction closed on December 23, 2021 and the purchase price was $193.4 million providing an initial unleveraged yield of 6.4%. The acquisition of Woodmore, which combines essential retail and a unique shopping experience for the surrounding community, is consistent with Urban Edge’s strategic plan of acquiring high-quality, infill real estate with attractive cash flow and future growth potential.

Woodmore sits just nine miles from the center of Washington, D.C. off the Capital Beltway, providing excellent access for the 240,000 vehicles traveling this corridor each day. The site benefits from strong demographics with a 5-mile population of 287,000 people with average household incomes of $106,000. Woodmore was the second most visited open-air center in the state of Maryland with over six million visitors in the past twelve months.

The property is currently 97% leased and features a lineup of leading retailers, restaurants and services including Wegmans, Costco, Best Buy, At Home, Nordstrom Rack, LA Fitness and Starbucks, amongst others. It is part of a larger 245-acre master planned community that includes over 500 recently constructed residences, a limited-service hotel and a new children’s medical center. The 22 acres of land adjacent to the shopping center are also part of the larger planned community and may be developed for a complementary commercial use in the future.

“Woodmore Towne Centre is a valuable addition to Urban Edge’s portfolio of high-quality retail assets located in premier metropolitan markets,” said Jeff Olson, Chairman and Chief Executive Officer of Urban Edge. “With best-in-class retailers, a convenient open-air format and outstanding accessibility, Woodmore is a go-to destination serving the needs of consumers across Prince George’s County. We look forward to partnering with the local community and further expanding our presence in the greater Washington, D.C. marketplace as part of our long-term strategy."

The transaction was completed by the Company using cash-on-hand and a new $117.2 million non-recourse first mortgage secured by the property. The mortgage has a 10-year term at a fixed rate of 3.39% and is interest-only for the entire loan term.

ABOUT URBAN EDGE PROPERTIES:

Urban Edge Properties is a NYSE-listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 75 properties totaling 17.0 million square feet of gross leasable area.

Contacts

Urban Edge Properties

Mark Langer, EVP and Chief Financial Officer

(212) 956-0082

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.