1. Cohen & Steers forms joint venture for Cityline at Tenley retail center. 2. The center features a high-performing Target and favorable demographics. 3. Tenleytown ranks top 1% for attractive retail locations in the US. 4. Cohen & Steers anticipates a rent growth super-cycle in retail. 5. Shopping centers currently highly occupied amidst low new construction.
Cohen & Steers' investment signals confidence in the retail sector's recovery, reminiscent of previous market recoveries like post-2008 when strategic acquisitions led to significant growth. The prime location and favorable demographics enhance the potential for sustained revenue growth.
Joint ventures in prime properties can elevate growth forecasts significantly, reflecting positively on CNS's asset value. Additionally, the retail location's strong performance suggests potential revenue increases.
Retail sector improvements and demographic advantages suggest prolonged positive impacts, paralleling previous successful ventures in prime retail areas that saw increased foot traffic over years.
NEW YORK, Sept. 18, 2025 /PRNewswire/ -- Cohen & Steers (NYSE: CNS) announced today that funds managed by the Private Real Estate Group of Cohen & Steers and Lincoln Property Company have entered into a joint venture to own Cityline at Tenley, a retail center in Tenleytown, an affluent neighborhood in northwest Washington D.C.
Sitting atop the Tenleytown Metro Station and anchored by a high-performing Target store, the property attracts customers from a broad trade area and benefits from the immediate area's favorable demographics. It is situated in the affluent Uptown submarket that ranks highly for income, home value, education, and population density, with a highly educated 3-mile population of 207,000 and median household income of $142,000.1 According to Greenstreet, an independent commercial real estate research firm, Tenleytown's zip code ranks #60 out of 5,412, putting it in approximately the top 1% of zip codes and top 7% of submarkets for attractive strip center rankings.2
James S. Corl, Head of the Private Real Estate Group at Cohen & Steers, said:
"We are pleased to acquire Cityline at Tenley, an attractively located, Target-anchored shopping center in northwest D.C. As retail property has become fully leased across the U.S. with virtually no new net construction, we believe that a generational rent growth super-cycle is beginning."
As a result of many years of very low levels of retail property development, and the renewed demand for stores from re-invigorated retailers, shopping centers are now the most highly occupied of any major commercial property type in the US.3 To learn more about Cohen & Steers' shopping center investment thesis, please read our whitepaper: The Retail Renaissance has arrived in private real estate investing.
About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore.
About Lincoln Property Company. Lincoln Property Company ("Lincoln") is one of the largest private real estate firms in the United States. Offering a fully integrated platform of real estate services and innovative solutions to owners, investors, lenders and occupiers, Lincoln supports the entire real estate lifecycle across asset types, including office, multifamily, life science, retail, industrial, data center, production studio, healthcare, government, universities, and mixed-use properties, throughout the United States, United Kingdom, and Europe. Lincoln's combined management and leasing portfolio on behalf of institutional clients includes more than 680 million square feet of commercial space. For more information, visit: www.lpc.com.
Website: www.cohenandsteers.com
1 Source: CoStar
2 Source: GreenStreet Atlas analytics
3 Source: CoStar
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SOURCE Cohen & Steers, Inc.