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Cushman & Wakefield Arranges Sale of NoVA Shopping Center
Cushman & Wakefield has arranged the sale of Springfield Commons, a 119,085-square-foot shopping center located in Springfield, Virginia, just 15 miles outside of Washington, D.C. The center is anchored by Old Navy, PureGym, and Staples and shadow-anchored by Home Depot.
Cushman & Wakefield represented the seller, AEW Capital Management, in the transaction. The property was purchased by DLC in partnership with Cohen & Steers.
“Springfield Commons offers an attractive combination of cash flow durability, national tenancy, and multiple near- and long-term value-add strategies in a dominant retail market,” said John Owendoff, Managing Director at Cushman & Wakefield.
Built in 1998, Springfield Commons is conveniently located near the I-95/I-495 interchange, is within walking distance to a Metro Station, and is surrounded by established single-family communities, new multifamily projects, medical and office buildings, and synergistic retail and entertainment amenities.
