CRC has recently acquired Creekside Station, a lifestyle center located in Winchester, Virginia. The purchase price for this 126,304-square-foot property was $19.5 million.
Situated at 3103 Valley Avenue, the center boasts a high occupancy rate of approximately 97%, with nearly 50 service-oriented and specialty retailers as well as restaurants. The seller of the property was represented by Gilbert Trout from Trout Daniel Associates while CRC handled their own representation.
Funds from Continental Realty Opportunistic Retail Fund I (CRORF), which is a closed-end fund that has raised $296 million to date, were used to finance the acquisition of Creekside Station. This marks CRC’s second shopping center purchase in Virginia this year after acquiring Gayton Crossing – a neighborhood shopping center spanning over 160,830 square feet – earlier this spring in Richmond.
Creekside Station offers an attractive mix of almost fifty restaurants and retailers for shoppers to enjoy. It is also part of Creekside Town Center which features other amenities such as Creekside Village – an office park that is fully leased with over 40,000 square feet dedicated to commercial office space.
