Federal Realty Investment Trust has acquired Virginia Gateway, a 665,000-square-foot retail center in Gainesville, VA, for $215 million. The property, with a 95% occupancy rate, is located at the intersection of Route 29 and I-66.  

The property offers a mix of tenants and experiences across its 110 acres, including a Giant Food grocery-anchored shopping center, Promenade featuring national specialty retailers, Atlas Walk town center, Plaza I & II featuring retailers like HomeGoods and Ulta Beauty, and Plaza IV anchored by Total Wine & More and Hobby Lobby. 

“A retail property of this size and scale, located in an affluent trade area at a heavily trafficked interchange, is not reproducible in today’s market environment,” said Jeff Berkes, president and COO of Federal Realty. “With the addition of this highly productive regional center, Federal Realty’s Northern Virginia portfolio grows to 3.6 million square feet, solidifying our presence in this thriving region.”