Press Releases
Marcus & Millichap Brokers $10.23 Million Sale of H Mart-Anchored Shopping Center in Northern Virginia
May 26, 2026
MANASSAS, Va., May 26, 2026 Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of the ground leased interest in Manassas Junction, a grocery-anchored shopping center located in Manassas, Virginia. The asset sold for $10,225,000.
“This was a unique transaction as a land-lease sale. The result was a cap rate well under 4%, which is quite rare in the current environment,” said Dean Zang, executive managing director of Marcus & Millichap in Washington, D.C., who led the transaction. “We had tremendous investor interest in the offering, however, many found it complicated to value. There was not much transparency on the property’s rent roll, and interest rates effectively required this to be an all-cash purchase. That's not an easy investor to locate at the price point in question.”
Zang and David Crotts of Marcus & Millichap exclusively marketed the property on behalf of the seller, a private individual based in the local area, and procured the buyer, a 1031 exchange investor who acquired the asset in three different entities. The purchaser had previously acquired the outparcels leased to Taco Bell, Burger King and Suntrust Bank in 2018. The property was initially brought to market for sale in December 2025, but the initial marketing effort did not yield a sale. A subsequent call for offers in early Spring revived the purchaser's interest, and the sale closed quickly thereafter.
Built in 1981, the 67,022-square-foot shopping center spans 9.2 acres and is anchored by H Mart, who took over the location in 2015 after Giant Foods closed in 2012. The property was fully occupied at the time of sale by tenants including Starbucks, Domino’s Wingstop and several local retailers. Manassas Junction is located at 8805 Centreville Road in the Washington D.C. metro area.
“The international grocery-anchored centers are of significant interest to investors around the Washington, D.C. Area,” adds Crotts, managing director investments. Zang and Crotts recently sold Highlandtown Village, a Hazlo-anchored center, and are presently marketing Coral Hills Shopping Center, anchored by New Grand Mart, in District Heights. “With more than 30 international grocery store brands in the metropolitan statistical area, they collectively represent the third-largest grocery by market share in the region,” Crotts adds.
“This was a unique transaction as a land-lease sale. The result was a cap rate well under 4%, which is quite rare in the current environment,” said Dean Zang, executive managing director of Marcus & Millichap in Washington, D.C., who led the transaction. “We had tremendous investor interest in the offering, however, many found it complicated to value. There was not much transparency on the property’s rent roll, and interest rates effectively required this to be an all-cash purchase. That's not an easy investor to locate at the price point in question.”
Zang and David Crotts of Marcus & Millichap exclusively marketed the property on behalf of the seller, a private individual based in the local area, and procured the buyer, a 1031 exchange investor who acquired the asset in three different entities. The purchaser had previously acquired the outparcels leased to Taco Bell, Burger King and Suntrust Bank in 2018. The property was initially brought to market for sale in December 2025, but the initial marketing effort did not yield a sale. A subsequent call for offers in early Spring revived the purchaser's interest, and the sale closed quickly thereafter.
Built in 1981, the 67,022-square-foot shopping center spans 9.2 acres and is anchored by H Mart, who took over the location in 2015 after Giant Foods closed in 2012. The property was fully occupied at the time of sale by tenants including Starbucks, Domino’s Wingstop and several local retailers. Manassas Junction is located at 8805 Centreville Road in the Washington D.C. metro area.
“The international grocery-anchored centers are of significant interest to investors around the Washington, D.C. Area,” adds Crotts, managing director investments. Zang and Crotts recently sold Highlandtown Village, a Hazlo-anchored center, and are presently marketing Coral Hills Shopping Center, anchored by New Grand Mart, in District Heights. “With more than 30 international grocery store brands in the metropolitan statistical area, they collectively represent the third-largest grocery by market share in the region,” Crotts adds.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
