Greysteel, a national commercial real estate investment services firm, has arranged the sale of Sterling Plaza II, a 22,280-square-foot grocery shadow-anchored shopping center located at 22405 Enterprise Street in Sterling, VA. Greysteel’s retail team led by Managing Director Gil Neuman represented the seller, Atlantic Realty Companies, and procured the buyer, Skyrise Group, LLC.

Constructed in 2005 across from the Safeway-anchored Sterling Plaza I shopping center and adjacent to a Food Lion grocer, the center was 93% leased at contract. By closing, the shopping center was fully occupied by seven tenants including CARQUEST, Goodwill of Greater Washington, and Little Caesar’s Pizza. Plans for a “town-center” revitalization of Sterling Plaza I have commenced with property upgrades, new tenants, and a new townhome development planned facing Sterling II.

“Sterling Plaza II offers immediate convenience to a large dense demographic located ‘in-land’ from primary Leesburg Pike and the Dulles Toll Road,” said Mr. Neuman. “Atlantic Realty Companies’ revitalization of the adjacent Sterling Plaza I further bolsters this asset’s long term viability,” he added.

Nearly 18,000 residents live within one mile of the Property and 88,000 residents within three miles. Forbes Magazine ranked Loudoun County as the wealthiest county in the nation with a $122,294 median household income. The unemployment rate is 3.1% and the population has nearly doubled since 2002. Loudoun County hosts 70% of the world’s daily internet traffic in over six million square feet of data centers. Major employers in the area include Northrop Grumman, General Dynamics, AOL, SAIC, Discovery, Communications, Harris, Digital Bridge, Equinix, Orbital ATK, Airbus, and Raytheon.

About Greysteel:

Greysteel is a commercial real estate and capital markets services firm with seven offices located in Los Angeles, CA; Washington, D.C.; Baltimore, MD; Philadelphia, PA; Dallas, TX; and Fort Worth, TX. Greysteel serves and advises private and institutional real estate investors and developers in the marketing, sale, and financing of private capital and middle-market real estate assets.