Newmark Capital Markets announced today that it facilitated the sale and financing of Fortuna Center Plaza in Dumfries, Virginia. The 104,694-square-foot shopping center is anchored by Shoppers Food Warehouse, along with Starbucks, Panera Bread, Five Guys and Rite Aid which is slated to be taken over by Walgreens. Mosaic Realty Partners purchased the asset for $20.23 million.
The area surrounding Fortuna Center Plaza boasts an average income of more than $112,200 per household and the population is expected to continue to grow by an additional 10 percent by 2021. In addition to the strong demographics, Fortuna Center Plaza is ideally located along Dumfries Road, which provides visibility to more than 44,000 vehicles per day. Adjacent to Target, the strategic location also provides easy access to Interstate 95 with multiple points of ingress and egress.
Executive Managing Director Geoffrey Millerd, Managing Director Mat Adler and Financial Analysts Christian Brannelly and Chris Huesgen of Newmark Capital Markets which is led by U.S. Head of Capital Markets, President, New England Area Robert Griffin, oversaw the transaction on behalf of the seller.
“The excellent visibility, strong demographics, and continued population growth were significant drivers in the sale of Fortuna Center Plaza,” said Newmark’s Adler. “This was a unique opportunity in Northern Virginia to acquire a grocery anchored shopping center with a quality tenant mix.”
About Mosaic Realty Partners
Mosaic Realty Partners is a private real estate investment firm founded in 2012 by its principals, Isaac Pretter and Eron Sodie, for the primary purpose of investing in commercial real estate in the Mid-Atlantic. Since inception, Mosaic has acquired 1.9 million square feet of commercial property with an investment value in excess of $200 million. Mosaic’s principals have directed in excess of $5 billion into Mid-Atlantic real estate investments throughout their careers. For further information, visit www.mosaicrp.com.
About Newmark Capital Markets
Newmark Capital Markets, operated by Newmark Group, Inc., is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, our strong foundation makes us one of the most trusted names in commercial real estate. We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.
Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.
Discussion of Forward-Looking Statements about Newmark Group, Inc.
Statements in this document regarding Newmark Group, Inc. that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark Group, Inc. undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark Group, Inc.’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.