Kimco Realty has acquired Stonebridge at Potomac Town Center, a 96% occupied, 504,000-square-foot, grocery-anchored lifestyle center in Woodbridge, Virginia, for $172.5 million.
The center, which has an estimated population of over 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 greater trade area. The center’s diverse tenant mix includes REI, Ulta Beauty, Starbucks, Cava, Firebirds Wood Fired Grill, and a variety of local shops which include boutique fitness, personal services, restaurants and medical uses.
“We’re excited to add Stonebridge at Potomac Town Center, a premiere 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 chief investment officer. “This center boasts a robust growth profile that will complement and solidify Kimco’s position as the leading retail player in the suburban Washington D.C. market.”
The center is located at the intersections of Interstate 95, Dale Boulevard, Route 1 and Opitz Boulevard.
