Richmond Highway Shopping Center Sold for $5.72 Million

FAIRFAX COUNTY, VA -- Finmarc Management, Inc commercial real estate firm has announced the sale of South Valley Plaza, an 18,556 square foot retail center located at 7611 Richmond Highway for $5.72 million.

The asset, which is leased to multiple tenants, was acquired by Mount Pleasant Properties, LLC. Matt Skalet of KLNB Retail represented Finmarc Management and Jeff Gelberman of NREB Real Estate represented the buyer in this transaction.

Constructed in 1989 and fronting Richmond Highway (US Route 1), South Valley Plaza features seven tenants including national retailers Dunkin’ Donuts and Pizza Hut. More than 58,000 vehicles pass the site on a daily basis and more than 113,000 people reside within a three-mile radius of the site, with an average household income approaching $118,000.

“The new owner acquired a center contained within a highly-defined retail market, with major national retailers including Home Depot, Cosco, Bed Bath & Beyond and other big-box stores situated within immediate proximity,” stated Neil Markus, Principal of Finmarc. “The tenant mix is comprised of strong regional and national retailers with loyal followings in the local community.”

Finmarc Management, Inc. currently owns and manages 74 office, flex, industrial and retail properties as well as several residential projects and focused on real estate investment, management, leasing and development of retail, industrial/flex, and office properties throughout the Mid-Atlantic region.

The firm presently owns and/or manages a diverse portfolio encompassing more than 5.8 million square feet of properties located in Maryland, Washington, D.C., Virginia, Delaware, New Jersey and Pennsylvania. For additional information, visit www.Finmarc.com