Kimco Realty acquires Stonebridge at Potomac Town Center in Virginia for $172m
Kimco Realty has purchased Stonebridge at Potomac Town Center, a 96 percent occupied, 504,000-square-foot, grocery-anchored lifestyle center in Woodbridge, Va., for $172.5 million.
The center, which has an estimated population of more than 230,000 people and an average household income of $125,000 within a five-mile radius, is anchored by a 138,500-square-foot Wegmans and the only Apple store in the trade area. The center’s diverse tenant mix features national brands, including REI, Ulta Beauty, Starbucks, Cava, Firebirds Wood Fired Grill, as well as a variety of local shops that include boutique fitness, personal services, restaurants and medical uses.
“We’re excited to add Stonebridge at Potomac Town Center, a premier grocery-anchored center situated in a high barrier-to-entry location with strong demographics, to our dynamic portfolio,” said Ross Cooper, Kimco’s president and CIO. “This center boasts a robust growth profile that will complement and solid