SRS Real Estate Partners announced today the $10 million sale of Flagship Commons at One Loudoun, a 13,316-square-foot retail center in Ashburn, Virginia. Located at 44795 Dulles Overlook Drive, the property spans approximately three acres and was newly constructed in 2022. The property includes an endcap drive-thru and is fully leased to a mix of national and local tenants, including Five Guys, The Big Screen Store, Club Champion, Dunkin’, and Finn Thai.
SRS’ Washington, D.C. Capital Markets team led by Andrew Fallon, Philip Wellde Jr., and Rick Fernandez, represented the developer-seller in the transaction. The buyer was a private, Northern Virginia-based investment group that made the acquisition as part of a 1031 exchange. Acquisition financing was provided by John Marshall Bank.
Flagship Commons, anchored by Five Guys and a drive-thru Dunkin’, is strategically positioned in front of Topgolf and iFly, and is across from One Loudoun, a nationally recognized mixed-use lifestyle center.
“SRS’ marketing efforts procured multiple offers, allowing our client to achieve the most favorable terms from a buyer with a strong desire to acquire the asset,” said Wellde. “The new construction with net lease terms and an essential tenant mix, combined with the property’s prime location in one of the country’s most affluent communities, made this an attractive investment to a number of bidders.”
Fallon added, “The demand for multi-tenant retail is up with active exchange buyers, bolstered by the availability of financing options. In addition to Flagship Commons, our SRS team has been executing some favorable transactions lately including the $6.275 million sale of The Shoppes at Waldorf Park, a Starbucks-anchored, multi-tenant retail property.”
In 2024, SRS Capital Markets completed approximately $2.5 billion in deal volume comprised of more than 600 transactions in 45 states. SRS currently has in excess of 740 properties actively on the market with a market value surpassing $3.5 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.