Peterson acquires Wegmans-anchored shopping center for $82M
WASHINGTON BUSINESS JOURNAL – The Peterson Cos. has acquired a Gainesville shopping center from Regency Centers Corp. (NASDAQ: REG) for $82.6 million.
The 322,355-square-foot, Wegmans-anchored center is fully leased with tenants including Bed Bath & Beyond Inc. (NASDAQ: BBBY), Ross Dress for Less, Michaels and Dick’s Sporting Goods. Fast-casual dining options at The Shops at Stonewall include Moe’s Southwest Grill, Dunkin’, Jersey Mike’s and The Bone BBQ, while service-based retailers such as Novant Health and Expedia CruiseShipCenters also occupy space on the 36-acre site.
Fairfax-based Peterson, developer of Fair Lakes, National Harbor, downtown Silver Spring and Loudoun’s Commonwealth Center, also developed and now manages the 1.3 million-square-foot, mixed-use Virginia Gateway shopping center in Gainesville. And the company is partnering with Denver-based Stack Infrastructure to construct a data center campus in western Prince William, near the county’s Innovation business park.
The Wegmans-anchored center is fully leased with tenants including Bed Bath & Beyond Inc., Ross Dress for Less, Michael’s and Dick’s Sporting Goods.
“The acquisition of The Shops at Stonewall afforded us the opportunity to expand our footprint in a market we are very familiar with given our 20-plus-year history of developing retail, office and residential communities in Gainesville,” Paul Weinschenk, president of the company’s retail division, said in a statement.
Jacksonville, Florida-based Regency was represented by R. William Kent and Ryan Sciullo of CBRE Group Inc.’s D.C. office.