DC-Area Retail Plaza Sells for $20M

Fortuna Center Plaza is a nearly 105,000-square-foot, grocery-anchored shopping center located in Northern Virginia. The more than $20 million deal was arranged by NKF Capital Markets.

Fortuna Center Plaza in Dumfries, Va.
Fortuna Center Plaza in Dumfries, Va.

Mosaic Realty Partners has acquired Fortuna Center Plaza, a 104,694-square-foot, grocery-anchored shopping center in Dumfries, Va., for $20.2 million. NKF Capital Markets oversaw the sale and financing of the retail asset.

Located along Dumfries Road on the southwestern perimeter of Washington, D.C.’s metro region, the site provides daily exposure to roughly 44,000 vehicles. The plaza is situated across the street from Prince William Forest Park and adjacent to Target, being easily accessible from Interstate 95. Fortuna Center is anchored by Shoppers Food Warehouse, along with Starbucks, Panera Bread, Five Guys and Rite Aid, which is planned to replaced by Walgreens.

Grocery-Anchored Shopping

NKF’s Executive Managing Director Geoffrey Millerd, Managing Director Mat Adler and Financial Analysts Christian Brannelly and Chris Huesgen, led by U.S. Head of Capital Markets Robert Griffin, oversaw the transaction on behalf of the seller. Vice Chairmen Joe Donato and Maury Zanoff, along with Vice President Kassandra Saridakis and Financial Analyst Daniel Salcetti arranged the financing on behalf of the buyer.

“The excellent visibility, strong demographics, and continued population growth were significant drivers in the sale of Fortuna Center Plaza,” said Adler, in prepared remarks. “This was a unique opportunity in Northern Virginia to acquire a grocery-anchored shopping center with a quality tenant mix.”

Last December another Washington, D.C.-area shopping center changed hands in a $21 million transaction. J.A.R. New York RLT aquired Shoppes at Bowie Town Center in Maryland from a seller represented by Neuman Commercial Group. 

Image via Google Street View