Manassas, Va. — Holliday Fenoglio Fowler L.P. (HFF) has arranged a $33.75 million refinancing for Davis Ford Crossing, a 152,391-square-foot shopping center in Manassas.
Mark Remington and Robert Carey of HFF worked on behalf of the borrower, The Rappaport Companies, to secure the 10-year, 4.34 percent fixed-rate loan with Principal Real Estate Investors. Rappaport completed nearly $2 million in renovations and enhancements to Davis Ford Crossing between 2013 and 2014. The center is 97.5 percent leased, with anchor tenants including LA Fitness, Staples, Petco and CVS. Other tenants include Sleepy’s and GNC. McDonald’s, United Bank, Arby’s and Exxon occupy outparcel pads with an additional 2,670-square-foot pad available for future development.