Grosvenor has acquired Best Buy Metro Center, a 105,000-square-foot shopping center in Springfield, Va.
The value of the transaction was not disclosed.
The property, located on Frontier Drive, is anchored by Best Buy and PetSmart; other tenants include Bertucci’s, Starbucks, and Ulta.
Grosvenor acquired the property from RREEF, which was represented by R. William Kent and Gary Lawrence of CB Richard Ellis. The new ownership has selected Asadoorian Retail Solutions of Washington, D.C., to lease space within the center, and Chicago-based Mid-America to manage the center.
Grosvenor is a privately owned property development and investment group.
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