STAFFORD, VA—An affiliate of Mosaic Realty Partners has acquired Brafferton Center here, a 95,000-square foot neighborhood shopping center for $22.3 million. Finmarc Management, based in Bethesda, MD, sold the property, which is currently 98% occupied, together with its owner partner Angelo Gordon of Kodiak Properties, LLC.
Andy Stape, Mat Adler and Vito Lupo of KLNB Retail represented the sellers. Mosaic Realty Partners represented itself in the transaction.
Some 50% of the center, which is located at the intersection of Garrisonville Road and Brafferton Boulevard, is occupied by its anchor tenant Sport & Health. Other tenants include Dunkin’ Donuts, Massage Envy, Avis Car Rental and Sweet Frog. There are 16 retailers in the strip mall and an additional eight stores housed in the two free-standing parcels.
Located in Baltimore, this is Mosaic’s first acquisition in Virginia.
The company is a private real estate investment firm founded two years ago by Isaac Pretter and Eron Sodie. Their investment focus is office, retail and industrial assets in the Mid-Atlantic and to date, they have directed some $5 billion of investments in this region, according to their website.
Other retail properties they have acquired include Valley Park Commons, an 89,275-square foot retail center in Hagerstown, MD, bought at the beginning of this year and the Elkridge Corners Shopping Center, in Elkridge, MD, which they bought in March 2013.
Brafferton Center, says KLNB’s Adler in a prepared statement, “complements the company’s existing portfolio.”