District Bay Acquires Crosspointe Village Shops
(Washington, DC, 3/27/17) – District Bay Realty Advisors acquired the Village Shops at Crosspointe last week, through affiliate entities for an undisclosed sum. The neighborhood shopping center, located in the affluent Washington, DC suburb of Fairfax Station, VA is comprised of well-known national tenants such as Pizza Hut and BB&T Bank along with notable local tenants that have been staples of the community since the asset’s original construction in the early 1990s.
District Bay is planning an extensive renovation of the building and will petition for new, larger monument sign along Silverbrook Road to replace the original sign which is significantly damaged and falling into disrepair. District Bay has engaged Renaud Consulting for leasing services and JLL for management services at the property. This is District Bay’s second acquisition in Virginia and their 6th acquisition overall.
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District Bay is a vertically integrated investment, management and development company focused on providing best in class service and solutions for clients and partners invested in commercial real estate. District Bay currently owns a portfolio of approximately 865,000 Square Feet of office and retail commercial real estate spread across Maryland, Virginia, and the Carolinas.