Greysteel, a national commercial real estate investment services firm, represented the Seller of Station Plaza Shopping center in Woodbridge, VA and George Boosalis of Boosalis Properties represented the buyer, Grace Street Properties.

The transaction team was led by Greysteel Director, Benjamin W. Wilson and Investment Associate, David Choi of the firm’s Washington, D.C. Commercial team.

Station Plaza is a 158,000-square foot, grocery-anchored shopping center located in Northern Virginia 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) recently executed renewals for five years. After a very competitive marketing process, Station Plaza Shopping Center was sold for over $121/SF with a first year CAP RATE of 7.6%.

“With the center’s proximity to D.C., we were able to attract attention from multiple private and institutional Buyers. Ultimately, the buyer was a local owner who is very optimistic about Woodbridge and sees long-term potential for redevelopment,” said Greysteel’s David Choi. “Investors are certainly being more strategic about acquisitions, but for the right center and tenant mix, demand remains high.”

About Greysteel:

Greysteel is a leading commercial real estate and capital markets services firm. Greysteel serves and advises private and institutional real estate investors and developers in the marketing, sale, and financing of private capital and middle market real estate assets. Our platform optimizes options for our clients by providing end-to-end investment services, from sales and financing to research and investment planning. Strategically located across offices nationwide, Greysteel has established broad market coverage from coast-to-coast. www.greysteel.com