WASHINGTON, December 11, 2023 (Newswire.com) - Sterling Organization, a vertically integrated private equity real estate investment firm with a national platform focused on investing in LAST HOUR® consumer fulfillment and distribution real estate assets, has announced the acquisition of Braemar Village Center, located at 12713 Braemar Village Plaza, Bristow, VA 20136, for $31.4 million.
The 111,635-square-foot property is located in a western suburb of Washington, D.C., and is anchored by a 57,860-square-foot Safeway grocery store, with an accompanying gas pad. Braemar Village Center is also home to national tenants such as Dunkin' Donuts and Subway, with additional outparcels occupied by Bank of America and Arby’s. In addition, the property contains more than three acres of vacant land which can ultimately be sold or developed into additional outparcel pads.
“We are pleased to add Braemar Village Center to our portfolio as we close out the year. We see a multitude of value-add opportunities at this property that our operations team is excited to execute on for our investor partners and the Bristow community,” said Brian Kosoy, Principal of Sterling Organization. “The affluent Bristow population that patronizes this property for its daily needs has an average household income exceeding $210,000, within one mile of the property,” added Kosoy.
“We would like to give a big thank you to Barry Argalas, Renee Runger, and the entire Regency Centers team for their partnership in bringing this deal across the finish line,” said Jordan Fried, Principal of Sterling Organization.
Braemar Village Center is the 74th property currently owned by Sterling Organization, via managed subsidiaries, in markets throughout the U.S. and increases the Florida-based private equity firm’s portfolio to over 12.6 million square feet of gross leasable area and over $2.8 billion in real estate value.Contact Information:
Original Source: Sterling Organization Acquires Bristow, VA (Washington, D.C., MSA), Grocery-Anchored Center for $31.4 Million