Four Prince William shopping centers sell for $52.8M
Dale City portfolio totals 470,000 square feet
Published
A portfolio of four regional shopping centers in Prince William County’s Dale City area has sold for $52.8 million, the joint venture of buyers announced Monday.
Located less than 3 miles apart along Dale Boulevard, the 1970s-era shopping centers — Center Plaza, Mapledale Plaza, Forestdale Plaza and Glendale Plaza — total 470,000 square feet on 70 acres. Combined, the centers are 90% occupied, with tenants including Advance Auto Parts, CVS, Dollar General and Truist Bank.
Affiliates of the Ideal Realty Group, Rock Creek Property Group and The Sigmund Cos. bought the centers from an Interstate Management affiliate. The new owners plan to begin renovations in the first quarter of 2024, including new paint, sealcoating and re-striping for parking lots, as well as adding gathering areas for shoppers and new landscaping.
The owners have chosen KLNB to handle retail leasing and The Shopping Center Group for property management.
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