ShopOne Centers REIT, Inc., together with its joint venture partners Pantheon and a leading global institutional investor, has acquired Lake Ridge Commons. The 74,367-square-foot Giant Food-anchored shopping center in Woodbridge, VA.

VA is the second East Coast state the joint venture entered in recent months. In September month, the companies acquired Shoppes on the Parkway, an approximately 40,000-square-foot shopping center situated in the Raleigh submarket of Cary, NC.

The joint venture has more than $1 billion of investment capacity and features a $225 million senior credit facility providing debt capital for the initial portfolio and future acquisitions. The joint venture is actively working to expand across its target markets.

Lake Ridge Commons is situated in a densely populated and affluent suburban community 20 miles southwest of DC. It features a 52,706-square-foot Giant Food, which has been in occupancy at the property since 1987, along with a tenant mix including Banfield Pet Hospital and YogaSix.