Crossroads Shopping Center's $80.5M Price Tag Brings in a Buyer

FALLS CHURCH, VA-The 395,000-sf Crossroads Shopping Center in the Bailey’s Crossroads submarket has fetched a whopping $80.5 million. With the assistance of real estate services concern Insignia/ESG Capital Advisors, entities operating under the guidance of Bart Eisner and Marc Solomon sold the property to San Francisco-headquartered real estate investment managers RREEF. The deal marks one of the biggest dollar-volume retail dispositions in the Metropolitan Washington, DC area this year.

“There was a lot of interest in the property,” Insignia/ESG Capital Advisors executive director R. William Kent shares with GlobeSt.com. “A 31-acre zone for retail in a dense area is hard to find here.” Insignia’s Gary S. Lawrence joined Kent in orchestrating the transaction.