ECHO Realty Purchased Purcellville Gateway In Purcellville, VA Anchored By Harris Teeter

PITTSBURGH, May 26, 2015 /PRNewswire/ -- ECHO Realty is pleased to announce its May 15, 2015 purchase of Purcellville Gateway, a 90,000 square foot Harris Teeter anchored center located at the intersection of Berlin Turnpike (Route 287) and Main Street (Route 7) in Purcellville, Virginia.  The shopping center serves Loudoun County, which is one of the wealthiest and fastest growing counties in the United States. The transaction was brokered by Jordan Lex and John Owendoff of Holliday Fenoglio Fowler.

Developed in a partnership between Roadside Development and Harris Teeter, the center was built on the original Cole Farm site and spared no expense in not only constructing a first class shopping center, but honoring the land's history. Three of the farm's original structures were carefully preserved and repurposed. Guests of the shopping center can now dine inside the original farmhouse or barn, both being occupied respectively by The Wine Kitchen and IJ Canns American Grille. The silo that once held grain for the farm now houses equipment to support the public water feature and fountain.

Originally opened in 2012, a second phase of the development opened in 2015, featuring The UPS Store and a new Starbucks drive-through location, as well as an expanded Pet Valu. Chick-Fil-A will also open later this year on the northeastern corner of the property, and ECHO is exploring plans to build additional, light density retail and residential use on a 3 acre parcel at the northwest corner of the property.  

Purcellville Gateway is ECHO Realty's first center acquired in Virginia and the new ownership has chosen to retain the management and leasing services of Roadside Development to continue to oversee the fully leased property. ECHO Realty is a privately held developer, owner and manager of grocery anchored shopping centers based in Pittsburgh, with offices in Washington, DC and Indianapolis, IN. This acquisition is part of a portfolio growth strategy as ECHO expands its existing collection of over 190 properties located in Pennsylvania, Ohio, Maryland, West Virginia, and Florida.

SOURCE ECHO Realty

Related Links

http://www.echorealty.com

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