Ideal Realty Group, Rock Creek Property Group, and The Sigmund Companies jointly announced the $52.8 million acquisition of four Dale City, VA regional shopping centers.
The purchase from Interstate Management Incorporated encompasses Center Plaza, Mapledale Plaza, Forestdale Plaza, and Glendale Plaza, with a combined 470,000 square feet on 70 acres. The centers, within 3 miles along Dale Blvd., are community mainstays built by original Dale City designers in the 1970s.
Major tenants include Giant grocery stores, Truist Bank, CVS, and Dollar General. Commencing Q1 2024, multimillion-dollar renovations will modernize the centers, improving parking lots, lighting, and tenant signage. KLNB handles retail leasing, while The Shopping Center Group manages the property.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.