Saul plans to erect a 150,000-sf to 200,000-sf shopping center on the land, which has the capacity to accommodate 225,000-sf of development. The deal to purchase the property from Broadlands developers has been in the works since December of last year. While terms of the sale are not being disclosed, Loudoun County land records show that Broadlands Associates sold 21.5 acres for $2.8 in January of 2001 to another buyer. The Broadlands community is home to 3,500 residences and has a population of nearly 4,500. There is also a 72-acre park and a new elementary school within the development.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.