Positioning Retail Real Estate for a New Generation

July 14, 2016

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Restaurant Lease Brings Crossroads Place in Falls Church to Full Occupancy

Golden Buffet Commits to 9,975 Sq. Ft. at Fairfax County, Va., Shopping Center

FALLS CHURCH, Va., July 14, 2016 – The addition of Golden Buffet restaurant at Crossroads Place in Falls Church will bring the 340,000-square-foot shopping center to full occupancy, announced Levin Management. The North Plainfield, N.J.-based commercial real estate services firm serves as the property’s exclusive leasing and managing agent.

Levin’s Jordan Korris, leasing representative, arranged the 9,975-square-foot transaction on behalf of Crossroads Place. Shang Wang of The JBG Companies represented Golden Buffet. The Crossroads Place location will be the third for the regional buffet chain, which operates as Golden Star Buffet in Gaithersburg, Md., and as Blue Pearl Buffet in Silver Spring, Md.

The Golden Buffet lease also marks the third new restaurant commitment at Crossroads Place in recent months; Chipotle Mexican Grill and Longhorn Steakhouse recently opened their doors there. Located on South Jefferson Street at the heavily travelled intersection of Leesburg Pike, Crossroads Place features a mix of more than 20 regional and national tenants also including a Giant food store, T.J.Maxx, HomeGoods, Cost Plus World Market, Burlington Coat Factory, Mattress Warehouse, Advance Auto, Foot Locker, Office Depot, Snips Etc., CiCi’s Pizza, Einstein Bagels, PNC Bank, Starbucks and others.

“Crossroads Place has attracted a strong, diversified tenant base, and as our newest addition Golden Buffet is no exception,” Korris noted. “We have worked to enhance the dining options at the property over the past six months, recognizing that today’s consumers gravitate to properties that offer both quality retail and an opportunity to grab a bite to eat, relax and socialize – a full destination shopping experience.”

Korris added that Crossroads Place’s full occupancy ensures its continued competitive positioning in the Fairfax County retail market. The shopping center serves a growing residential population of nearly 592,000 people and a daytime population of more than 349,000 within a five-mile radius, and an average household income of $121,416. The daily traffic count on Leesburg Pike at South Jefferson Street is about 60,600 vehicles.

For more than six decades, Levin Management Corporation has been a trusted single-source commercial real estate services provider for institutional and private owners. The firm helps its clients evaluate options, operate properties and create case-specific solutions to protect and improve asset value. Levin today maintains a diversified, retail-focused portfolio of approximately 95 properties totaling 13 million square feet in the Northeast and Mid-Atlantic states, offering leasing, property management, accounting, construction management and marketing. Levin’s services continue to evolve with new technologies, efficiencies and sustainability-focused initiatives to serve a new generation of properties, investors and tenants.

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