ShopOne Centers REIT, with its joint venture partners, Pantheon, and a global institutional investor, have entered the state of Virginia with the acquisition of Lake Ridge Commons, a 74,367-square-foot Giant Food-anchored shopping center in Woodbridge, Va.
Situated in a densely-populated and affluent suburban community approximately 20 miles southwest of Washington, D.C., Lake Ridge Commons features a 52,706-square-foot Giant Food, the top grocer by market share in the Washington, D.C. MSA. In addition to Giant Food, which has been in occupancy at the property since 1987, the existing tenant roster features a diverse and highly complementary mix of regional and local retailers that includes Banfield Pet Hospital and YogaSix. The property is situated along Old Bridge Road, the submarket’s primary east-west thoroughfare, which sees daily traffic of over 39,000 vehicles. A population of more than 217,000 people, with an average household income of over $132,000, lives within