Washington Real Estate Investment Trust
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Washington Real Estate Investment Trust is a self-administered, self-managed REIT that focuses on income-producing commercial real estate properties, especially in the metropolitan Washington D.C geographical area.
They have operated in that area since their founding in 1960. Although they're not well diversified geographically, they are well diversified in types of property: office, medical office, industrial/flex space, retail and multifamily real estate investments. Their headquarters are in Rockville Maryland. Their New York Stock Exchange ticker symbol is WRE, but they also abbreviate their name as WRIT.
George "Skip" McKenzie is WRIT's president and CEO.
The Washington D.C. metro area is the fourth largest in the U.S., but always a strong one economically because it's the capital of the federal government. This has helped give them a lot of stability.
However, they also adopted the policy of renting to many small tenants rather than depend on one large tenant, which creates a big problem if that one tenant decides to leave.
Properties of Washington Real Estate Include:
1901 Pennsylvania Avenue, 51 Monroe Street, The Lexington Building, The Saratoga Building, 1600 Wilson Boulevard, 7900 Westpark Drive, Parklawn Plaza, One Central Plaza, Wayne Plaza, Parklawn Plaza, Albemarle Point, The Ridges, The Crescent, West Gude, Monument II, Dulles Station, Woodburn Medical Park, Prosperity Medical Center, Shady Grove Medical Village, Alexandria Professional Center, Plumtree Medical Building, Woodholme Medical Office Building, CentreMed, Sterling Medical Office Building, 2440 M Street, Roosevelt Towers, Country Club Towers, Park Adams Apartments, Munsen Hill Towers, Bennett Park, The Kenmore, Clayborne Apartments, Avondale Apartments, Bethesday Hill Apartments, Walker House, Ashby at McLean, Takoma Park Shopping Center, Westminister Shopping Center, Concord Centre, Bradlee Shopping Center, Wheaton Park Shopping Center, Chevy Chase Metro Center, Shoppes at Fox Chase, Frederick Country Square, Centre at Hagerstown, Montrose Shopping Center, Randolph Shopping Center, Fullerton Business Center, Charleston Business Center, Tech 100, Crossroads Distribution Center, Alban Business Center, Ammendale Technology Park, Pickett Industrial Park, Northern Virginia Industrial Park, Dulles South IV, Hampton Overlook, 270 Technology Park, and Hampton South.
Washington Real Estate Investment Trust (WRE) is well positioned to benefit from the continued growth of the federal government and in the Washington D.C. metropolitan area, which does include Maryland and Northern Virginia. It's well-diversified to benefit from all types of commercial real estate economic activity. However, it's not diversified geographically, which is a weakness. What if the terrorists ever succeed in setting off a nuclear weapon there? So long as that catastrophe never happens, this REIT should profit.
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