14A — October 25 - November 7, 2019 — Shopping Centers — M id A tlantic
Real Estate Journal
www.marej.com
S hopping C enters
George Boosalis of Boosalis Properties represents buyer, Grace Street Properties Greysteel arranges the sale of a high performing shopping center in Woodbridge, VA
real estate investment services firm, represented the seller of Station Pla- za Shopping c e n t e r i n Woodbridge and George W
Station Plaza Shopping Cen- ter was sold for over $121/s/f with a first year CAP RATE of 7.6%. “With the center’s proxim- ity to D.C., we were able to attract attention from mul- tiple private and institutional Buyers. Ultimately, the buyer was a local owner who is very optimistic about Woodbridge and sees long-term poten- tial for redevelopment,” said Greysteel’s Choi. “Investors are certainly being more stra- tegic about acquisitions, but for the right center and tenant mix, demand remains high.” KLNB announces leases at Waldorf Park in Maryland WALDORF, MD — KLNB , the multi-service commercial real estate brokerage firm, has announced that Star- bucks, Chick-fil-A, and Jersey Mike’s have signed leases at Waldorf Park. The Republic Family of Companies is the project’s developer. Ryan Minnehan and Phil Rux- ton , both principals at KLNB, represented the landlord. “We are thrilled to be bring- ing Waldorf’s second Chick- fil-A to market, its only Star- bucks with a drive-through, and its first Jersey Mike’s. Charles County has been one of the fastest growing coun- ties in Maryland for several years running, and Waldorf Park is strategically placed right in the center of that growth,” said Stacy Horn- stein , senior vice president at Republic. Waldorf Park, a new devel- opment in Waldorf, is pro- jected to be delivered in the 4th Quarter of 2020. Located off Crain Highway (Rte. 301), the center boasts high vis- ibility (54,281 AADT), easy accessibility, and various square footage opportunities. Aside from the three new tenants KLNB has recently signed at Waldorf Park, there are several other national tenants in the immediate area including Target, Ma- cy’s, Dicks Sporting Goods, Safeway, CVS, Walgreens, Carrabba’s, Olive Garden, Wawa, and more. All parties involved are confident this new project will bring attrac- tive and desirable retail ser- vices to the Charles County community.
BenjaminWilson and invest- ment associate, David Choi of the firm’s Washington, D.C. Commercial team. Station Plaza is a 158,000 s/f, grocery-anchored shopping center located in Northern Vir- ginia a suburb of Washington D.C. with superb access to I-95 and excellent visibility. Built on 13.23 acres, the center is 100% leased to a variety of 15 national, credit, and regional tenants. Both anchor tenants (Food Lion and B-Thrifty) re- cently executed renewals for five years. After a very com- petitive marketing process,
OODBRIDGE, VA — Greysteel , a na- tional commercial
David Choi
Boosalis of Boosalis Prop- erties represented the buyer, Grace Street Properties . The transaction team was led by Greysteel director,
Station Plaza Shopping center
Heller Industrial Parks
15,000,000 SF
CENTRAL JERSEY STRONG
BUILD OWN LEASE MANAGE HELLERPARK.COM
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