Sprouts Farmers Market Grows Presence in Northern Virginia
By Keith Loria May 12, 2023 12:25 pm
reprints
Sprouts Farmers Market, a Phoenix-based organic grocer, has inked a 26,000-square-foot lease in Prince William County, the company’s second Northern Virginia location.
The new store will open at Manaport Plaza, a 250,000-square-foot shopping center in Manassas. The store will open this month. The rent wasn’t disclosed, but retail rents average $26.94 per square foot in the city, according to a first-quarter Manassas report.
Owner Finmarc Management acquired the property in 2019 for $29.8 million. Over the last few years, the company has renovated interior sections of the center, improved the surface parking lot, upgraded the pylon signage, and added new LED lighting.
“Shopping centers with tenants that offer true differentiation in important categories, including the grocery store segment, stand out in the local marketplace and perform higher in the long term,” Sean Sullivan, executive vice president of Finmarc Management, said. “Grocery stores are typically the most prolific traffic generators for shopping centers and, in Sprouts, we have attracted a compelling and successful concept that will drive traffic from an extremely large radius of Northern Virginia. That will benefit our entire tenant roster.”
Sprouts, which operates approximately 400 stores in 23 states, also has a NoVA store at 494 Elden Street in Herndon, which opened in 2019.
Located at 8345-8443 Sudley Road, Manaport Plaza features more than 20 retailers, including Advanced Auto Parts, Bruster’s Real Ice Cream, Dollar Tree and Subway.
Larry Hoffman and Bryan Davis of H&R Retail represented the landlord in this transaction. Michael R. Zacharia of CBRE represented Sprouts in the deal.
Keith Loria can be reached at Kloria@commercialobserver.com.
