Institutional Property Advisors Brokers Retail Center Sale in Northern Virginia
October 31, 2025
HAYMARKET, Va., Oct. 30, 2025 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of Crossroads Village Center, a 43,989-square-foot retail center in Haymarket, Virginia. The property sold for $25.4 million.
David Crotts, IPA managing director investments and Dean Zang, IPA executive managing director investments, represented the seller, Meladon Group, and procured the buyer, Atlantic Nation Management.
“Crossroads Village Center drew investor interest due to its Northern Virginia location, newer construction, and long-term leases with an overall weighted average lease term of 8.8 years,” said Crotts. “Unanchored retail is in strong demand with resilient tenants, significant leasing momentum, and annual rent growth. We are very grateful to both Meladon Group and Atlantic Nation for their hard work in completing this transaction.”
Meladon Group CEO Don Wooden added: “Crossroads Village Center is a testament to quality mixed-use development that starts with great dirt, a great team, and ends with a solid tenant mix and durable cash flow. We build places that people want to frequent and create value along the way. This is what we do time and time again.”
The center is located off Interstate 66, which sees 68,000 vehicles per day. Nearby new residential and data centers include Carter’s Mill, Heathcote Village, Grove at Gainesville Data Center, and Village Place at Technology Park. The population within a five-mile radius is over 73,900 and average annual household income is over $191,000.
Completed in 2023, Crossroads Village Center consists of 15 tenants, including Chick-fil-A, CVS, Virginia National Bank, Five Guys, Pho Thai 66, Good Fellas Pizza, and Firehouse Subs.
David Crotts, IPA managing director investments and Dean Zang, IPA executive managing director investments, represented the seller, Meladon Group, and procured the buyer, Atlantic Nation Management.
“Crossroads Village Center drew investor interest due to its Northern Virginia location, newer construction, and long-term leases with an overall weighted average lease term of 8.8 years,” said Crotts. “Unanchored retail is in strong demand with resilient tenants, significant leasing momentum, and annual rent growth. We are very grateful to both Meladon Group and Atlantic Nation for their hard work in completing this transaction.”
Meladon Group CEO Don Wooden added: “Crossroads Village Center is a testament to quality mixed-use development that starts with great dirt, a great team, and ends with a solid tenant mix and durable cash flow. We build places that people want to frequent and create value along the way. This is what we do time and time again.”
The center is located off Interstate 66, which sees 68,000 vehicles per day. Nearby new residential and data centers include Carter’s Mill, Heathcote Village, Grove at Gainesville Data Center, and Village Place at Technology Park. The population within a five-mile radius is over 73,900 and average annual household income is over $191,000.
Completed in 2023, Crossroads Village Center consists of 15 tenants, including Chick-fil-A, CVS, Virginia National Bank, Five Guys, Pho Thai 66, Good Fellas Pizza, and Firehouse Subs.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.