RETAIL NEWS

CHEVY CHASE, MARYLAND – Backlick Plaza may have a new owner, but not much else has changed for the tenants at the nearly 86,000 square-foot community shopping center located in Springfield, Virginia.  Shopping center leasing, management and development company JBG Rosenfeld Retail (JBGR) recently sold the property to Crow Holdings of Dallas; however, as part of the transaction, JBGR was retained by the new ownership to continue its leasing and management duties at the center.  Anchored by El Grande International Supermarket, the property currently is 97% leased.

“Like so many of the properties in our portfolio, Backlick Plaza is a center where we have a lot of history,” said JBGR Principal Jim Garibaldi.  “When Hechinger closed at the center back in 2000, we were faced with the challenge of leasing a 50,000 square-foot space, which is nearly 60% of the gross leasable area at the center.  Since that time, we have secured a new anchor for that space, and renovated the center, launching it to nearly 100% occupancy.  In retaining our leasing and management services, Crow Holdings recognized the value of the relationships we have built with the merchants of Backlick Plaza, and the broker community in the metropolitan area.  We are pleased to have them on our roster of landlord representation clients.”