The master developer behind the 310-acre Westphalia Town Center project in Prince George’s County has a deal to sell a healthy chunk of the property to a single buyer.
Walton Westphalia Development Corp. announced late last month that it has entered into a conditional purchase and sale agreement “for a bulk sale of the Phase 1A lands.” Ed Fleming, president of the East Region for Walton Development and Management, said the deal covers about 50 acres — land slated entirely for residential development, up to 650 units of various types.
The sale is subject to the due diligence of the unidentified buyer. The 50 or so acres do not include the commercial core of Westphalia Town Center, which is planned for some 300,000 square feet of retail and other nonresidential development. Walton Westphalia is in negotiations with a grocer and a hotel to locate in that core near Joint Base Andrews — those talks have advanced, Fleming said, beyond the letter-of-intent stage.
In the meantime, Walton…Read the full story from the Washington Business Journal.