A joint venture between Regency Center and First Washington Realty has sold the Town Center at Sterling, a 188,109-square-foot grocery-anchored retail property in Sterling, Va.
The new owner is Rappaport Cos. A sales price was not disclosed.
The center is anchored by grocer Giant Food. Other tenants include Capital One Bank, Dollar Tree, 7-Eleven, Verizon Wireless, Kids First Swim School and Planet Fitness.
“Town Center at Sterling was a unique opportunity to acquire a grocery-anchored center directly off Leesburg Pike in a location that straddles two of the wealthiest counties in the country, Loudoun and Fairfax,” said Matt Adler, managing director at Newmark Knight Frank, which represented the sellers. “Anchoring the center since the early 1970s, Giant Food recently underwent a renovation and executed a long-term extension on its lease.”
