Chevy Chase Land Co. Acquires South Lakes Village Shopping Center in Virginia for $62 Million

Tenants at South Lakes Village Shopping Center include Safeway, Starbucks Coffee and CVS/pharmacy. Tenants at South Lakes Village Shopping Center include Safeway, Starbucks Coffee and CVS/pharmacy.

Reston, Va. — The Chevy Chase Land Co. has acquired South Lakes Village Shopping Center, a 110,000-square-foot retail center located roughly 25 miles outside of Washington, D.C., for $62 million.

Safeway anchors the center, which is also home to tenants including CVS/pharmacy, BB&T Bank, Starbucks Coffee, SunTrust and Pet Valu. Chevy Chase Land Co. acquired the property through a 1031 exchange from the sale of its portfolio of office buildings located in Richmond earlier this year. The seller was undisclosed.

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