Potomac Run Pulls in $59M

STERLING, VA-Ownership of the sprawling 486,569-sf Potomac Run shopping center has changed hands in a deal valued at nearly $59 million between seller Crow Holdings and buyer Kimco Realty Corp. The transaction covers 361,365 sf of the retail property, as shopping center anchor Target owns its 125,204-sf space.

Located on Potomac Run Plaza near Rte. 7 and Cascades Parkway, Potomac Run, not including Target’s lot, occupies a 38.5-acre parcel in Northern Virginia’s Loudoun County, and has a current assessed value of approximately $45 million. Development of the shopping center began in 1996 with additional expansions taking place through 1999. Today, the retail facility is about 99% occupied and is leased to a wide variety of tenants including Circuit City, Kitchen Etc., Office Depot, PetSmart, Ross Dress for Less and Toys-R-Us.