WRIT bets on BRAC

Washington Real Estate Investment Trust (WRIT) has acquired a 215,000-square-foot shopping center in Columbia, Maryland. The cost? $88.4 million. The Washington Business Journal reports that this is the latest bet that BRAC relocations will drive business. WRIT expects significant job growth at nearby Fort Meade between 2012 and 2014. Thousands of jobs are moving to the base under the Base Realignment and Closure process. Earlier this year, WRIT paid $68 million on four new office buildings in Stafford, near Quantico. That’s another area expected to see significant growth from BRAC.

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