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Lindley Estes is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

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City real estate sale fetches $10.25 million

The Food Lion-anchored Fredericksburg Shopping Center sold in late February for $10.25 million, according to a deed recorded last month in Fredericksburg Circuit Court.

The 9.6-acre property is at 503-543 Jefferson Davis Highway. It’s assessed at $9.62 million and includes 102,254 square feet of retail space.

Fredericksburg SC LLC, which has a Maryland address, sold the center to Kanha LLC, which lists a Great Falls address, according to property records.

Fredericksburg SC LLC bought the property in June 2003 for $8.55 million, according to property records. In addition to Food Lion, the center includes Verizon Wireless, Family Dollar, Advance Auto Parts, Citi Trends and many other businesses.

Erik Ulsaker, David Paik and Thomas Walsh of Long & Foster Real Estate’s Vienna-based commercial division represented the buyer. The deal was financed through John Marshall Bank’s Tony Wininger.

Permalink: http://news.fredericksburg.com/businessbrowser/2014/04/02/city-real-estate-sale-fetches-10-25-million/