NoVA shopping center trades

Published February 27, 2019 by Michael O'Connor

A week after announcing plans to open its first full-service office in Virginia, Federal Realty Investment Trust said it had closed on a 75,000-square-foot shopping center in Fairfax City.

Federal Realty announced on Wednesday it had acquired Fairfax Junction at 11001 Lee Highway for $22.5 million from Glazer Properties.

Fairfax City property records show Fairfax Junction was most recently assessed at $16.3 million and last sold in 2001 for $11.1 million to an entity called Fairfax Junction Fairfax LP C/O  First Allied Corp.

The shopping center was built in 1981 and is fully leased. Anchor tenants include Aldi, Planet Fitness and CVS.

Federal Realty, a publicly traded REIT, is opening a 5,000-square-foot office in Tysons this year that will have about 20 employees. The firm says its portfolio in Virginia totals 3.8 million square feet.