The Halle Companies has sold a fully leased, retail property just across from a huge, mixed-use complex developing in Alexandria, Va.
A private buyer acquired the 7.1-acre site, at 6001 Kingstowne Village Parkway, for $14.2 million.
Basically, build in 2008, the property is fully occupied by renters, including an ALDI supermarket, a La-Z-Boy furniture store, and a newly opened Ashley Furniture HomeStore.
It is located just across the street from the Kingstowne Towne Center, a shopping center that Halle Companies is transforming into an 886,000-square-foot, live-work-play community.
Halle Companies first obtained approvals for a mix of retail and residential development in 2016 but later downsized the amount of both.
Avison Young promoted the deal on behalf of the seller.
According to Avison Young, the property grants the best traffic flow and is in one of the most coveted blocks near Washington, D.C., as the centralized town center is Kingstowne’s heart, with a broad variety of stores, restaurants, and high-quality office buildings.