Edens & Avant Buy More Retail Assets in Washington, DC
Washington Post reports: Edens & Avant, a national retail developer and operator, said Monday it has purchased the Hunters Woods Village Center in Reston, VA for an undisclosed price, an acquisition that brings to 30 the number of Washington area shopping centers owned by the company.
Anchored by a Safeway grocery store, the 120,195-square-foot Hunters Woods is typical of the more than 129 retail centers in Edens & Avant's national portfolio. The company, based in Columbia, S.C., specializes in the acquisition and development of neighborhood shopping centers or mixed-use, open-air properties.
This latest deal comes on the heels of a string of recent buildouts and renovations for Edens & Avant in the Washington region. In late June, Edens & Avant broke ground on the Mosaic, a 31-acre town center in Merrifield scheduled to open in fall 2012. The development, which is more than 60 percent leased, features 400,000 square feet of retail space, a 150-key hotel room, 60,000 square feet of office space, an eight-screen movie theater and 114 townhouses.
Work is also underway for the redevelopment of two additional properties in Northern Virginia. At the Shops at West Falls Church, just off Lee Highway, the company is remodeling the Safeway and adding a pancake house. Edens & Avant bought the 85,097-square-foot shopping mall in 2005 for $18.6 million as a part of the purchase of several properties, according to global commercial property research firm Real Capital Analytics.
View the full article on Washington Post: Edens & Avant Buy More Retail Assets in Washington, DC
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Posted by: Nina Turner