Boosalis Properties Acquires Carter’s Crossing Shopping Center for $5.92 Million

By Mark Walker, Boosalis Properties Staff

Boosalis Properties has acquired Carter’s Crossing Shopping Center in Stafford County for $5.92 million, further expanding the firm’s commercial real estate portfolio in the Fredericksburg market.

The acquisition includes approximately 3.9 acres and a 40,654-square-foot retail building located on South Gateway Drive just off Warrenton Road. The property was purchased from Silver Companies.

Carter’s Crossing is anchored by a diverse mix of tenants, including PetSmart, Anytime Fitness, Aladdin’s Mediterranean Grill, and a nail salon. At the time of sale, the shopping center was approximately 71 percent leased.

The property is strategically positioned within one of Stafford County’s most active retail corridors and is surrounded by several nationally recognized retailers and service providers. Nearby businesses include Target, Pohanka Honda of Fredericksburg, Panera Bread, Tropical Smoothie Café, NextCare Urgent Care, Verizon, Aaron’s, Subway, Hair Cuttery, and Wawa.

The shopping center is also expected to benefit from continued growth within the corridor, including the addition of a new 9,600-square-foot building that will house Freddy’s Steakburgers and a wireless communications retailer.

“This acquisition represents an opportunity to invest in a well-located retail asset within one of the region’s strongest commercial corridors,” said George Boosalis, President of Boosalis Properties. “We continue to see long-term value in properties that serve growing communities and provide opportunities for future leasing and redevelopment.”

Boosalis Properties remains committed to identifying strategic investment opportunities throughout Northern Virginia and the greater Fredericksburg region.

Joe Pfahler of Coldwell Banker Commercial Elite represented the seller in the transaction.