Washington DC CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
SRS Real Estate Completes Sale-Leaseback of Property in Manassas
SRS Real Estate Partners has completed the $6.75 million sale-leaseback of a single-tenant property occupied by The Learning Experience located at 10219 Dumfries Road in Manassas, Virginia.
SRS’ Washington, D.C. Capital Markets team led by Andrew Fallon and Philip Wellde Jr., represented the seller, Ganges Manassas LLC, in the transaction. The buyer was a Northern Virginia-based private investor, who made the acquisition as part of a 1031 exchange.
Built in 2023 and situated on an approximately one-acre parcel, the two-story, 11,150-square-foot property has a new triple net lease in place and the facility is operated by one of The Learning Experience’s largest franchisees.
“This property is in the center of a densely populated, growing Washington D.C. suburb with more than 163,000 residents and 64,000 employees in the trade area, creating a strong customer base for the tenant,” said Wellde. The property is in the center of a primary retail corridor that includes a Walmart Supercenter, Harris Teeter, LA Fitness, Chick-fil-A, Raising Cane’s, and Wawa, among others.
