Fairfax Plaza & Shoppes at Hagerstown Sold!
Uniwest Companies announced that it closed on the sale of a two-property portfolio, which included a portion of Fairfax Plaza, located in Falls Church, VA and the Shoppes at Hagerstown, located in Hagerstown, MD to Retail Properties of America, Inc. The properties were sold through an off-market transaction.
Fairfax Plaza, is a 138,000 square feet shopping center, consists of 76,000 square feet of retail space and 62,000 square feet of self-storage space on 8.2 acres of land. The property, located in Falls Church, VA and adjacent to Merrifield Town Center, features a strong demographic profile, with a population of 142,000 and an average household income of $141,000 within a three-mile radius.
The Shoppes at Hagerstown is a 113,000 square foot shopping center and is leased to a number of national tenants including Best Buy, Party City, Dollar Tree, Five Below and Starbucks. The center is situated in a main retail corridor with visibility from Route I-81.