Chevy Chase Land Co. Acquires South Lakes Village Shopping Center in Virginia for $62 Million

Reston, Va. — The Chevy Chase Land Co. has acquired South Lakes Village Shopping Center, a 110,000-square-foot retail center located roughly 25 miles outside of Washington, D.C., for $62 million.

Safeway anchors the center, which is also home to tenants including CVS/pharmacy, BB&T Bank, Starbucks Coffee, SunTrust and Pet Valu. Chevy Chase Land Co. acquired the property through a 1031 exchange from the sale of its portfolio of office buildings located in Richmond earlier this year. The seller was undisclosed.