Stonebridge Town Center Sold To New Owners For $172.5 Million

WOODBRIDGE, VA — Stonebridge at Potomac Town Center is under new ownership. On Thursday, Kimco Realty announced that it acquired the area for $172.5 million.

The shopping center spans 504,000 square feet and is currently 96 percent occupied, according to the announcement from KimCo Realty.

In a news release, KimCo officials expressed optimism about Stonebridge's future. They pointed out the new commuter garage and park that are slated to open next to Stonebridge in mid-2024.

"We’re excited to add Stonebridge at Potomac Town Center, a premiere grocery-anchored center situated in a high barrier-to-entry location with strong demographics, to our dynamic portfolio,” Kimco’s President and Chief Investment Officer Ross Cooper said . “This center boasts a robust growth profile that will complement and solidify Kimco’s position as the leading retail player in the suburban Washington D.C. market.”

Stonebridge hosts several notable tenants including Wegmans, an Apple Store, Barnes and Noble, the Alamo Drafthouse Cinema, and Ulta Beauty.

Each year, Stonebridge attracts 5,500,000 visits, Kimco said in the news release. It ranks in the 97th percentile for yearly visits across the country.