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Continental Realty Corporation Acquires Creekside Station for $19.5M
Continental Realty Corporation (CRC) has acquired Creekside Station, a 126,304-square-foot lifestyle center in Winchester, Virginia, for $19.5 million.
Located at 3103 Valley Avenue, the asset was approximately 97 percent leased by nearly 50 service-oriented and specialty retailers, plus restaurants, at the time of the transaction. Gilbert Trout of Trout Daniel Associates represented the seller, Creekside Properties, and CRC was self-represented.
Creekside Station was purchased with funds from Continental Realty Opportunistic Retail Fund I, LP (CRORF), a closed-end fund for which $296 million has been raised. This represents CRC’s second shopping center acquisition in Virginia this year, following the purchase this spring of Gayton Crossing, a 160,830-square-foot neighborhood shopping center in Richmond.
Creekside Station features nearly 50 restaurants and retailers. It is part of Creekside Town Center, a mixed-use community featuring Creekside Village, a 100 percent leased office park containing more than 40,000 square feet of commercial office space.
