Woodbridge Archives - Virginia Business

Four Prince William shopping centers sell for $52.8M

A portfolio of four regional shopping centers in Prince William County’s Dale City area has sold for $52.8 million, the joint venture of buyers announced Monday.

Located less than 3 miles apart along Dale Boulevard, the 1970s-era shopping centers — Center Plaza, Mapledale Plaza, Forestdale Plaza and Glendale Plaza — total 470,000 square feet on 70 acres. Combined, the centers are 90% occupied, with tenants including Advance Auto Parts, CVS, Dollar General and Truist Bank.

Affiliates of the Ideal Realty Group, Rock Creek Property Group and The Sigmund Cos. bought the centers from an Interstate Management affiliate. The new owners plan to begin renovations in the first quarter of 2024, including new paint, sealcoating and re-striping for parking lots, as well as adding gathering areas for shoppers and new landscaping.

The owners have chosen KLNB to handle retail leasing and The Shopping Center Group for property management.

Woodbridge medical building sells for $5.2M

The Virginia Gastro Health Woodbridge building has sold for $5.2 million, according to Cushman & Wakefield.

The 17,988-square-foot medical office building at 14010 Smoketown Road in Woodbridge is 92% leased to five tenants and anchored by Gastro Health. The building was renovated in 2010. It is located near Sentara Northern Virginia Medical Center and the soon-to-be-built Kaiser Permanente Multi-Speciality Medical Center.

The property was sold by Hudson Dynamics to Morgan Investments.

Cushman & Wakefield managing directors Gino Lollio and Travis Ives, who lead the firm’s national health care capital markets group, as well as managing director Matthew Sullivan and director Lindsey Groom, with the firm’s Washington, D.C.-based healthcare advisory team, represented seller Hudson Dynamics, a partnership of physicians associated with the anchoring practice, in the transaction.

Woodbridge office building goes for $3.25M

A commercial office building in Woodbridge has sold for $3.25 million in an off-market deal, Edge Capital Markets Group announced this week. The 11,200-square-foot building sits on a 1.56-acre parcel of land at 13370 Minnieville Road.

Currently the building is occupied by a social services center focused on workforce training and job placement run by SkillSource Group, a nonprofit organization funded by the state. The seller is Bethesda-based Madison Farm LLC, represented by Joe Friedman, Christine Kleine, Joshua Norwitz and Wilson Purcell of Edge, and the Virginia-based buyer was represented by KPI Commercial LLC.

The property also includes a surface parking lot and is about two miles from the Potomac Mills shopping center. It was assessed at $1.45 million in 2021, according to Prince William County property records.

Woodbridge IT firm names VP, cloud center of excellence

Woodbridge-based information technology company Sev1Tech LLC announced Thursday it has hired Matt Jordan as vice president, cloud center of excellence.

With a decade of experience in cloud-based services, Jordan most recently served as vice president of corporate strategy and development at JHC Technology. In his new role, he will focus on company growth and strategic partnerships.

“Matt’s experience with our cloud partner ecosystems, unparalleled drive and continual focus on building the right solutions for each mission customer will help drive Sev1Tech’s capability,” Sev1Tech CEO Bob Lohfeld said in a statement.

Founded in 2010, Sev1Tech provides IT modernization, cloud, cybersecurity, engineering, training and program support services to U.S. government agencies and commercial organizations.

Subscribe to Virginia Business.

Get our daily e-newsletter.

$380M mixed-use development coming to North Woodbridge

A new $380 million mixed-use development is coming to North Woodbridge in Prince William County, the IDI Group Cos. and Boosalis Properties announced Wednesday.

The North Woodbridge Town Center project will include 160,000 square feet of retail space, restaurants, bars, grocery stores as well as 900 apartment units. It will be built during the next five to 10 years on land that sits at the corner of Route 1 and Occoquan Road.

“We’re eager to bring this exciting development to North Woodbridge,” Boosalis Properties President George Boosalis said in a statement. “I have seen the transformation of this area since I was a kid, and it seems like this is the natural next step. We appreciate all the support from the community, the county and the Board of Supervisors.”

The developers have worked with Prince William County to secure an economic development fund that was used to buy adjacent land.

“This key redevelopment project lays the foundation for long-term economic resiliency and will be a catalyst for the emergence of North Woodbridge into a vibrant mixed-use neighborhood,” Christina Winn, executive director of the Prince William County Department of Economic Development, said in a statement. “This investment in the new town center will drive further economic growth, attract new businesses, and create new jobs throughout the area.”

Map of ICI Group Cos. and Boosalis Properties' North Woodbridge Small Area Plan. Photo courtesy Prince William County — Map of ICI Group Cos. and Boosalis Properties’ North Woodbridge Small Area Plan. Photo courtesy Prince William County

The development is part of Prince William County’s Small Area Plan, which is intended to encourage mixed-use development and transportation network improvements. The site for the development announced Wednesday is adjacent to Route 1, which is currently undergoing construction and expansion.

The Small Area Plan includes other surrounding land parcels where other regional developers have been looking at opportunities to buy and develop. The development by IDI Group Cos. and Boosalis Properties would be located in the “Town Center” region of the Small Area Plan, which also includes the Marumsco and Belmont Bay regions.

“We’re already seeing the momentum as more businesses and investors are interested in North Woodbridge and eastern Prince William County because they recognize the area as the next new emerging market due to its strategic location, transportation network and expansive water views,” Winn said in a statement.