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Springfield Town Center
FinanceMixed-useNewsVirginia

PREIT Receives $150 Million in Financing for Springfield Town Center

by Abby Cox

Springfield, Va. — PREIT has received $150 million in financing to recapitalize Springfield Town Center, a mixed-use redevelopment of the former Springfield Mall in Northern Virginia, roughly 14 miles outside Washington, D.C. The regional shopping center features 1.4 million square feet of retail space, including a 32,000-square-foot LEGO Discovery Center that opened in 2023. Other tenants include Build-A-Bear, Burger King, Chuy’s, Dave & Buster’s, Dick’s Sporting Goods, Finish Line, Five Below, H&M, Hot Topic, JC Penney, LA Fitness, Macy’s, Maggiano’s, Nordstrom Rack, Regal Cinema, Sephora, Toys “R” Us and Target. Goldman …

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PINSTACK
DevelopmentEntertainmentNewsVirginia

PINSTACK to Open 56,000-Square-Foot Entertainment Venue in Dulles, Virginia

by Abby Cox

Dulles, Va. — Dallas-based PINSTACK, a dining and entertainment destination, will open a 56,000-square-foot venue within the 424-acre mixed used development of Kincora in Dulles, roughly 32 miles west of Washington, D.C. The venue will feature a full-service restaurant and bar, bowling lanes, an arcade, rock wall, high-ropes course, interactive games and simulator technology, bumper cars and private event spaces. PINSTACK is scheduled to open in 2026.

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Williamsburg Marketcenter
FinanceNewsVirginia

MMCC Arranges $8.2 Million Financing for 176,000-Square-Foot Shopping Center in Williamsburg, Virginia

by Abby Cox

Williamsburg, Va. — Marcus & Millichap Capital Corp. (MMCC) has arranged the $8.2 million financing for Williamsburg Marketcenter, a 176,000-square-foot regional shopping center located at 6610 Mooretown Road in Williamsburg. The 10-year loan includes a 6.3 percent interest rate with a 25-year amortization period and a 75 percent loan-to-value. Garrett Fierstein of MMCC’s Orlando office secured the financing on behalf of a private client. Anchored by Ross Dress For Less and Dollar Tree, the center includes a mix of additional tenants including Supercuts, Ukrop, Navy Federal Credit Union and Petco, …

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FinanceNewsVirginia

Cushman & Wakefield Secures $28.7 Million in Bridge Financing for Manassas Mall in Northern Virginia

by Abby Cox

Manassas, Va. — Cushman & Wakefield has secured $28.7 million in bridge financing for Manassas Mall, a 941,574-square-foot regional mall located in Manassas, roughly 31 miles southwest of Washington, D.C. Miami-based Lionheart Capital was the borrower. Robert Kaplan and Mark Rutherford of Cushman & Wakefield’s Miami office, along with Michael Zelin, Bindi Shah and Ryan McMahon of the firm’s Washington, D.C. office, represented Lionheart Capital in the transaction. Originally developed in 1972, Manassas Mall was expanded in 1988 and renovated in 2016. The mall features more than 80 retailers, including Macy’s, …

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Laburnum Park
Investment salesNewsVirginia

Greysteel Facilitates $9 Million Sale of Laburnum Park Shopping Center in Richmond, Virginia

by Abby Cox

Richmond, Va. — Greysteel has facilitated the $9 million sale of Laburnum Park Shopping Center, a 61,060-square-foot shopping center located in Richmond. The property features two in-line retail buildings, a standalone retail pad and a bank pad. Gold’s Gym and DaVita Dialysis shadow anchor the center, which was 92 percent leased at the time of sale. Additional tenants include Dollar Tree, Union Bank & Trust, Cook Out, Subway, a barber shop and a dentist. Ben Wilson of Greysteel represented the seller and secured the buyer, Oklahoma-based The Criterion Fund, in …

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Eidi Properties portfolio
IllinoisIndianaInvestment salesMichiganNewsNorth CarolinaVirginia

Eidi Properties Acquires 39 Shopping Centers Totaling 650,257 Square Feet Across Six States

by Abby Cox

Toledo, Ohio — Toledo-based Eidi Properties has acquired 39 shopping centers totaling 650,257 square feet across Illinois, Florida, Virginia, Michigan, North Carolina and Indiana. This transaction, which features a mix of power centers, grocery-anchored plazas and community hubs, brings Eidi’s portfolio to nearly 80 retail properties and more than 1.5 million square feet. The properties were all purchased from Dembs Development. Joel Jerger of WesBanco, Andy Maher and Brian White of Waterford Bank, N.A., as well as John Skeldon and Joe Bajas of Cooperative Business Services (CBS), all based in …

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Mountain Mike’s Pizza
Company newsLeasingNewsRestaurantsVirginia

Mountain Mike’s Pizza Signs Three-Unit Franchise Agreement in Virginia

by Abby Cox

Irvine, Calif. — Irvine-based Mountain Mike’s Pizza has signed a franchise agreement to open three new locations in Northern Virginia, marking the chain’s introduction to the state. Following its 10-unit development deal in Florida, this agreement brings Mountain Mike’s Pizza to 13 total units slated for the East Coast. The new Virginia restaurants will be developed by local franchisee Niraj Hemrajani, a multi-brand operator with a portfolio of established restaurant concepts including Cold Stone Creamery, Popeyes and Subway.   The fast-casual pizza concept currently operates restaurants in Arizona, California, Colorado, …

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The Learning Experience
Investment salesLeasingNet leaseNewsVirginia

SRS Real Estate Partners Arranges $6.8 Million Sale-Leaseback of Retail Property in Manassas, Virginia

by Abby Cox

Manassas, Va. — SRS Real Estate Partners has arranged the sale-leaseback of a single-tenant retail property located in Manassas, roughly 35 miles southwest of Washington, D.C., for $6.8 million. The Learning Experience, an early childhood education and childcare center, occupies the two-story, 11,150-square-foot property on a triple net lease basis. Originally built in 2023, the facility is operated by one of The Learning Experience’s largest franchisees. Situated at 10219 Dumfries Road, the property sits at the center of a retail corridor that includes a Walmart Supercenter, Harris Teeter, LA Fitness, …

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Metro Washington Retail Portfolio
FinanceMarylandNewsVirginia

Marcus & Millichap Arranges $17 Million Refinancing for Retail Portfolio in Metro Washington, D.C.

by Abby Cox

Silver Spring, Md. and Fairfax, Va. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $17 million loan for the refinancing of a nine-property retail portfolio located in Silver Spring, Maryland, and Fairfax, Virginia. The properties — which total roughly 71,000 square feet — include multi-tenant retail strip centers, single-tenant retail properties and single-tenant restaurants. Jared Cassidy of MMCC’s Washington, D.C. office secured the five-year loan through a local bank. The financing carries a 12-month adjustable rate, 25-year amortization schedule and a 55 percent loan-to-value ratio.

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Cain Creek Shopping Center
Grocery-anchoredInvestment salesNewsVirginia

Legacy Realty Group Brokers Sale of 59,410-Square-Foot Shopping Center in Danville, Virginia

by Abby Cox

Danville, Va. — Legacy Realty Group Advisors has brokered the sale of Cain Creek Shopping Center, a 59,410-square-foot shopping center located in Danville. Food Lion anchors the center. Additional tenants at the property feature a mix of retail stores, restaurants and businesses, including Family Dollar, Danville Dental, Fabulous Beauty Supply and Isabel’s Pizza Pasta & Subs. Jacob Baruch of Legacy Realty Group Advisors represented both the buyer and seller, an affiliate of Fayetteville, Arkansas-based Core Equity Partners, in the off-market transaction.

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