Petroleum Marketing Group, Inc. acquired Leesburg Plaza from Federal Realty Investment Trust (NYSE:FRT) for $73.5 million on December 17, 2021. The combined proceeds of $113 million in just Leesburg Plaza and Saga Shopping Center sold at a blended high 5% cap rate were used to reduce debt before year-end.

Petroleum Marketing Group, Inc. completed the acquisition of Leesburg Plaza from Federal Realty Investment Trust (NYSE:FRT) on December 17, 2021.