Windfall Group, IVEA Restaurant Group, And Pacifica Square USA Acquire Retail Property In Rockville, MD

The property involved in this transaction is a retail asset located at 1701-1765 Rockville Pike, 180-190 Halpine Road, 192 Halpine Road & 143 Rollings Ave in Rockville, MD. The property has a total area of 113,448 square feet and was sold for a price of $44,000,000, resulting in a price per square foot of $388.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $44,000,000
• Address: 1701-1765 Rockville Pike, 180-190 Halpine Road, 192 Halpine Road & 143 Rollings Ave, Rockville, MD
• Market: Rockville, MD
• Buyer: Windfall Group, IVEA Restaurant Group & Pacifica Square USA - Eddie Ni, Judy Ni, Edward Wong & Marshall Nguyen
• Seller: Ronald Cohen Management Co. - Alan Cohen
• Square Footage: 113,448
• Price per Square Foot: $388

The buyers of the property are Windfall Group, IVEA Restaurant Group, and Pacifica Square USA, represented by Eddie Ni, Judy Ni, Edward Wong, and Marshall Nguyen. On the other hand, the seller is Ronald Cohen Management Co., represented by Alan Cohen.

According to the buyers, their long-term plan for the property is to redevelop it into a mixed-use center with retail on the bottom and apartments on top, aiming to create a vibrant, multicultural hub of style and sophistication. Windfall Group and Pacifica Square USA are well-known developers and investors in multicultural and Asian lifestyle shopping centers in the US. They have a successful track record of acquiring commercial properties and adapting them to meet the needs of the local community, particularly in areas with a medium-high Asian population. Their goal is to provide a unique and authentic shopping experience that showcases the Asian culture.

Contact information:

Judy Ni - [email protected] (Real Estate Director)

Marshall Nguyen - [email protected] | 612-327-1059 (General Partner & Broker)