HFF closes sale of grocery-anchored retail center in Purcellville
Holliday Fenoglio Fowler L.P. (HFF) has closed the sale of Purcellville Gateway, an 88,687-square-foot, Harris Teeter-anchored retail center in Purcellville.
HFF marketed the property on behalf of the seller, a joint venture between Roadside Development and Harris Teeter. Echo Realty LP, a private developer, owner and operator of commercial real estate based in Pittsburgh, purchased the property for an undisclosed price.
Roadside Realty will continue to manage the center. Situated on 16 acres of what was once Cole Farm, Roadside Development created a shopping area that integrates many of the farm’s original structures — the farmhouse, barn and silo — and distinctive architecture into the center.
Completed in 2012, Purcellville Gateway is 100 percent leased, according to HFF. Besides Harris Teeter, tenants include Starbucks, PetValu and Jersey Mike’s Subs.
The center is located at 105 Purcellville Gateway Drive, at the corner of Berlin Turnpike (Route 287) and Main Street (Business Route 7) in Loudoun County.
John Owendoff and Jordan Lex lead the HFF investment sales team representing the seller.