Busy Arlington shopping destination sold

WASHINGTON — Market Common Clarendon, home to several popular retailers, a Whole Foods and apartments, has been acquired by Arlington, Virginia-based AvalonBay Communities Inc. and Jacksonville, Florida-based Regency Centers Corp. for $406 million.

The two acquired the property from TIAA Global Asset Management.

AvalonBay contributed $120.3 million and owns the center’s 300 apartments. Regency contributed $285.7 million and owns the retail and an adjacent building that it plans for future development.

“Market Common Clarendon has been a nationally recognized project since its development in 2001,” said Regency Centers’ Barry Argalas.

“The combination of a dense, affluent, and highly educated customer base, along with the convenient access to the Clarendon metro station, all contribute to the success of the retailers.”

Market Common covers about 10 acres at 2800 Clarendon Blvd.

Retailers include Apple (currently closed for renovations), Crate & Barrel, The Container Store, Pottery Barn and Williams Sonoma.

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