BALTIMORE – Trout Daniel & Associates, a full-service commercial real estate firm, announces the sale of Creekside Town Center, a 126,304 SF mixed-use center, with 48 tenants in 10 buildings, and over 13 acres of land in Winchester, Virginia. Creekside’s tenant mix includes boutiques, professional and medical services, restaurants as well as national tenants such as Talbots, Chico’s, Ann Taylor Loft and JoS. A. Bank.
Gilbert Trout of TD&A represented the seller and procured the buyer, Continental Realty Corporation. Creekside Town Center was sold on August 15 for $19,500,000.
States Trout: “Creekside is a best-in-class mixed-use center in the Shenandoah Valley and Winchester’s premier destination. This center sets the high-water mark for how owners who care deeply about the success of their tenants and customers can create a continuously successful retail destination in today’s fluid leasing environment. The story of Creekside’s role in Winchester’s retail environment is equally astounding, as it has consistently been 100% leased to nearly 50 tenants for over 15 years. Creekside’s year-over-year occupancy rate is the anti-narrative I tell investors who are hesitant to invest in retail due to the changing tides of America’s in-person shopping trends.
The owners of Creekside were its original developers, and it mattered to them that the purchaser of the property would be a first-rate operator, and equally devoted to the existing tenants, the City of Winchester and that they would continue the impeccable maintenance of the property. When selling Creekside, it was clear to all of us that we could find no more optimal stewards of the asset than Continental Realty Corporation.”
Contact Gilbert Trout at 443-921-9332 or gtrout@troutdaniel.com for more information.
About Trout Daniel & Associates
Trout Daniel & Associates is a full-service commercial real estate brokerage serving businesses throughout the mid-Atlantic and beyond. The firm takes a highly-customizable approach to providing a full range of commercial real estate services, including brokerage, development, consulting and management to the retail, office, industrial, multi-family and investment market segments. For more information, call: 410-435-4004 or visit: www.troutdaniel.com.