Boosalis Properties Closes Sale of Fairfax County Retail Property

Boosalis Properties announced the sale of a retail property located in Virginia for $6.25 million.

The property consisted of three parcels, creating a unique investment opportunity that combined existing income with long-term redevelopment upside. George Boosalis, Principal Broker of Boosalis Properties, represented the seller in the transaction. The property ultimately sold at a 3.2% capitalization rate. “We generated multiple aggressive all-cash offers through the Boosalis Properties network even before we were able to take the property to the traditional online marketing platforms,” said Boosalis.

The property was situated on approximately 3.1 acres, featuring 7,796 square feet of retail space, and excess land with future development potential. “The buyer understood the long-term opportunity and had the vision necessary to capitalize on the property’s future potential,” said Melanie Nobriga of Boosalis Properties. “It was a unique asset with both immediate income and long-term growth potential.”