Grocery and organic food store Sprouts Farmers Markets has opened its first store location in Prince William County, and second in Virginia, within 26,000 square feet of space at Manaport Plaza, a 250,000 square foot regional shopping center located in Manassas. The national concept, which currently operates nearly 400 stores in 23 states across the country, signed a lease with Finmarc Management, Inc., a commercial real estate investment and management firm headquartered in Bethesda, Maryland which acquired the center in 2019. Larry Hoffman and Bryan Davis of H&R Retail represented the landlord in this transaction.
Headquartered in Phoenix, Sprouts Farmers Markets is differentiated in the grocery store category by its fresh produce section placed in the center of every store, as well as its corporate mission to provide wholesome and innovative products produced with lifestyle-friendly ingredients such as organic, plant-based and gluten-free. The concept is recognized for its choice of vegan staples, large selection of vitamins and supplements, natural body care products and household items. Sprouts also offers traditional grocery store departments providing meat, poultry, seafood, deli and baked goods. A fresh sushi department and a dedicated culinary director is also contained in each store.
“The premise of Sprouts Farmers Market is offering healthy and farm-fresh ingredients to consumers at affordable prices, while also emphasizing natural and green practices which are important to its loyal following,” explained Sean Sullivan, Executive Vice President of Finmarc Management. “Shopping centers with tenants that offer true differentiation in important categories including the grocery store segment stand out in the local marketplace and perform higher in the long-term. Grocery stores are typically the most prolific traffic generators for shopping centers and, in Sprouts, we have attracted a compelling and successful concept that will drive traffic from an extremely large radius of Northern Virginia. That will benefit our entire tenant roster.”
Molly Badger, Director of Leasing, Finmarc Management; Ryan Kelly, District Manager for Sprouts Farmers Markets; Sean Sullivan, Executive Vice President, Finmarc Management
Sprouts is also known for its continued focus on product innovation, use of technology and emphasis on building an omnichannel experience for its customers. A large percentage of its products are free of artificial flavors, colors and preservatives and non-GMO. Consumers can also purchase items such as coffee, nuts, grains and candy in bulk.
The center includes more than 20 retailers and is positioned at 8345-8443 Sudley Road. Manaport Plaza features roadside visibility from VA Route 234 (Sudley Road), on which more than 40,000 vehicles pass the site on a daily basis. The property is supported by four pylon signs and five separate entrances and exits onto Sudley Road. It is also surrounded by a large parking field and located directly adjacent to Manassas Mall, a regional shopping destination with more than 80 retailers and restaurants. Nearly 190,000 people reside within a five-mile radius of Manaport Plaza, including nearly 60,000 households, with an average household income approaching $140,000.
Consumers starting lining up at 6 am in anticipation of the store’s 7 am opening and each received a fresh-cut flower upon entering
Since acquiring Manaport Plaza in 2019, Finmarc Management has invested considerable resources into the asset to elevate the center’s functionality and aesthetics. Projects completed by the company include renovating interior sections of the center, improving the surface parking lot, upgrading the pylon signage and adding new LED lighting. Additional improvements, including a façade re-fresh to complement the recently-completed Sprouts façade renovation, will take place this year.
“We were originally attracted to Manaport Plaza because this sub-market has shown consistent growth and is served by a tenant base perfectly suited for the surrounding neighborhood demographics,” added Sullivan of Finmarc. “Now that we have added a compelling anchor tenant to the mix, we plan on turning our attention towards bringing the center to full occupancy. A high-quality grocer like Sprouts is spurring tremendous interest from other national tenants and retailers from a broad segment of uses including soft goods, fashion, and fitness centers. This lease with Sprouts is only the beginning. With approximately 50,000 square feet of vacancy, we have an opportunity to continue to transform the shopping center and better meet the needs of the community.”
Finmarc Management, Inc. is a fully integrated commercial real estate company that focuses on real estate investment, management, leasing and development of retail, industrial/flex, and office properties throughout the Mid-Atlantic region. The firm presently owns and manages a portfolio encompassing approximately seven million square feet of commercial properties located in Maryland, Washington, D.C., Virginia, Delaware, Pennsylvania and North Carolina. For additional information visit www.finmarc.com
