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Coldwell Banker Commercial Elite Brokers $5.92M Sale of Retail Shopping Center

Fredericksburg-VA (03-23-2015) – Joe Pfahler with Coldwell Banker Commercial Elite recently brokered the sale of a 40,654 SF PetSmart anchored shopping center for $5.92 million. The property is located within the Carter’s Crossing Development at 27 South Gateway Drive, Fredericksburg-Stafford County, VA 22406. The property is 71% leased to Petsmart, Anytime Fitness, Aladdin’s Mediterranean Restaurant, and a nail salon.

The building was sold to Grace Street Properties, LLC/ Boosalis Properties.  Coldwell Banker Commercial Elite has been hired by Boosalis Properties to handle the leasing assignment for the remaining 11,451 SF at the center. Joe Pfahler represented the seller, Silver Companies, and Geoff Lindsay with Capital Realty Advisors represented the purchaser.

Carter’s Crossing is a 34 Acre commercial development off I-95 & Route 17/Warrenton Road.  Other tenants at the development include: Target, Pohanka Honda of Fredericksburg, Panera Bread, Tropical Smoothie, Next Care Urgent Care, Verizon, Aaron’s, Subway, Hair Cuttery and Wawa.

Coldwell Banker Commercial Elite has handled all prior leasing and sales to date and are working on an additional 9,600 SF retail building that will feature Freddy’s Steak Burgers, a national restaurant chain and a wireless phone retailer.  This sale represents the 4th NNN Leased property sale that Coldwell Banker Commercial Elite has brokered at Carter’s Crossing including a Panera Ground Lease, Wawa Ground Lease, and a 100% leased, 18,780 SF multi-tenant retail building.

For More Information about the transaction or leasing opportunities contact 540.786.1402.


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