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Kimco Realty Corp Acquires Stonebridge At Potomac Town Center For $172.5M
SOLD
$172,500,000
Virginia
See Similar DealsRetail504,000 SF
Sold 08/25/2023
SOLD
Kimco Realty Corp Acquires Stonebridge At Potomac Town Center For $172.5M
15201 Potomac Town Place Woodbridge, VA 22191, USA
See Similar DealsRetail504,000 SF
Sold 08/25/2023
Summary
VIRGINIA
Asset Type:Retail
Price Per Square Foot:$342
Total Square Footage:504,000 SF
Transaction Type:Sale
Kimco Realty Corp has acquired Stonebridge at Potomac Town Center in Woodbridge, Virginia for $172.5 million. The retail property, located at 15201 Potomac Town Place, spans 504,000 square feet. This acquisition aims to expand the shopping hub near Interstate 95. The purchase price per square foot is $342.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $172,500,000
- Address: 15201 Potomac Town Place
- Market: Woodbridge, VA
- Buyer: Kimco Realty Corp
- Seller: JBG Smith Properties
The deal was facilitated by Kimco Realty Corp, a prominent player in the real estate industry. JBG Smith Properties acted as the seller's representative in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$9,199,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$612,856.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$817,738.01
Annual Debt Service$9,812,856.06
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