Long & Foster Commercial Division has been exclusively retained by ownership to present Merrifalls Plaza, an 18,215 SF shopping center situated on 1.9 acres located in a dense urban environment in Falls Church, VA. The property is located in the Merrifield submarket just inside the Washington, DC Beltway on heavily traveled Lee Highway and less than 1 mile from Merrifield’s new Mosaic District. Merrifalls Plaza features an assortment of local tenants including a convenience store, bakery, laundromat, salon and a variety of restaurants. The tenant base is well established and the center boasts a current 93% occupancy rate. As a result of the Covid-19 pandemic, Ownership proactively sought to maintain existing tenancy through targeted rent discounts for specific tenants. Furthermore, due to the fact that this is a neighborhood retail center serving the surrounding community, several tenants stayed operational paying full rent during the preceding months. Unlike other retail centers, Merrifalls Plaza’s tenancy is not reliant on a tourist or office base and therefore is poised for much stronger performance moving forward. The property also boasts a Costar Location Quality Score (LQS) of 91 (see page 8 for further details). Ownership was able to retain 100% of their current tenants who are now all fully operational. The property is being offered as a fee simple purchase.
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Retail Space
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