MANASSAS, VA. — S.A. Hastings LLC has completed the sale of Hastings Marketplace, a 28.05-acre mixed-use development in Manassas, for $21.6 million. Owings Mills, Md.-based Black Oak Associates has acquired the retail center for $18.1 million, while Richmond American Homes acquired the remaining undeveloped land, which is entitled for commercial and residential use, for $3.5 million. Located at the intersection of Prince William Parkway and Liberia Avenue, the 93,000-square-foot retail center is anchored by a 56,000-square-foot Harris Teeter Food Market and Pharmacy, which opened in last year. The center is currently 73 percent leased and occupied by Harris Teeter, Verizon Wireless and Neibauer Dental Care. Rappaport Retail Brokerage has been retained to lease the remaining space. The undeveloped land is entitled for development of 61 townhomes, 46 single-family homes, eight live/work units, 26 lofts apartments and more than 25,800 square feet of commercial space. Jim Kornick and Matt Clinebell of NorthMarq, along with Michael Gorsage of H&R Retail, represented the seller in the transaction.
Black Oak Associates has acquired the retail center at Hastings Marketplace in Manassas, Va., for $18.1 million.
83
previous post