PRINCE WILLIAM COUNTY, Va. — Two shopping centers in eastern Prince William County were acquired for $40 million.
The shopping plazas, Cheshire Station in Dale City and The Market at Opitz Crossing in Woodbridge, were purchased by Palm Beach, Fla.-based Sterling Value Add Partners. They were owned by Regency Centers, which owns the Shops at County Center at Prince William Parkway and Hoadly Road, Signal Hill Shopping Center in Manassas, and the Breamar Village Center in Bristow.
Both shopping centers that were purchased by Sterling are anchored by Safeway grocery stores.
More in an unedited press release issued by the Sterling company:
The two grocery-anchored shopping centers in the portfolio, Market at Opitz Crossing and Cheshire Station, are located about 4 miles apart from one another and approximately 20 miles southwest of Washington, D.C. in a densely populated area where the average household income in a three-mile radius exceeds $100,000. Market at Opitz Crossing is 155,758 square feet and is situated at the intersection of Jefferson Davis Highway (US-1) and Opitz Boulevard in Woodbridge, VA. Cheshire Station is 105,594 square feet and is located in the heart of Dale City, VA, at the intersection of Minnieville Road and Dale Boulevard. Anchored by PriceRite and Safeway respectively, the centers also house national retailers Petco, Starbucks, BB&T, Capital One, Advance Auto Parts, RadioShack, AutoZone, Sherwin Williams, GNC, and Hair Cuttery. The portfolio is currently 86% occupied.
“We are pleased to have closed on the purchase of this portfolio which is located in one of the strongest markets in the country. The combination of solid cash flow with the ability to add value fits perfectly into what we are trying to achieve through our current institutional fund,” said Brian Kosoy, President and CEO of Sterling Organization. “The professionalism and willingness of Regency’s team to work through what was ultimately a more complicated transaction than originally anticipated can’t go unmentioned. We are hopeful that this is the first of many transactions with the good folks at Regency.”
The acquisition nets the Sterling Value Add Partners a total of 261,235 square feet in retail space. The Washington, D.C. market, however, is not one of the company’s target markets, according to its website. Those markets include multiple cities in California and Florida, as well as Atlanta and Charlotte, N.C.
Recent Stories
I-95 Northbound and Southbound: Exit 126 (Spotsylvania): Sunday – Thursday, 9 p.m. – 5 a.m. Single lane closures on both I-95 northbound and southbound starting at 9 p.m.
Fatal Hit & Run Crash Investigation – On April 24 at 10:19 p.m., officers responded to the area of Richmond Highway and Pine Bluff Drive in Dumfries to investigate a crash involving a motorcycle.
“7News On Your Side has obtained an email revealing Prince William County Public Schools removed a speech-language pathologist from their list of evaluators because he “sides with the parents.””, reports ABC7 News.
On April 27, crash investigators obtained arrest warrants for the driver of the truck who was involved in the fatal collision that occurred in the area of Richmond Hwy. and Pine Bluff Dr. in Dumfries (22026) on April 24. The investigation revealed the driver of the 2020 Chevrolet Colorado pickup truck, later identified as the accused, failed to yield the right of way to the motorcycle before entering the intersection where the vehicles collided. The resulting crash killed a 20-year-old Dumfries man.
We are honored to have the Honorable Andrea O. Bailey of the Potomac District, along with the esteemed leadership of Prince William County, hosting our 4th Annual 5K Walk for Mental Health Awareness. This event is a testament to their commitment to educate, advocate for, and dispel myths and stigma surrounding mental illness.
Dust off your running or walking shoes, bring your pets, and move with us in this county-wide FREE event in recognition of Mental Health Awareness Month on Saturday, May 18th, from 10:00 am to 2:00 pm. This year’s theme is Movement: Moving for Your Mental Health.
We will walk along a scenic multi-purpose trail in a wooded setting with sufficient signage to meet the needs of the walkers at Locust Shade Park, 4701 Locust Shade Drive, Triangle, Virginia 22192.
Are you feeling overwhelmed by life’s challenges? Struggling with anxiety, depression, or unresolved trauma? Take the first step towards healing and reclaiming your life with our professional psychotherapy services.
At Peaceful Mind Solutions, we understand that mental health is just as important as physical health. Our team of compassionate and experienced therapists is here to provide you with the support and guidance you need on your journey to mental wellness.
Through personalized therapy sessions, we create a safe and non-judgmental space where you can explore your thoughts, feelings, and experiences. Whether you’re dealing with past traumas, relationship issues, or simply seeking personal growth, we tailor our approach to meet your unique needs and goals.
