News

June 1, 2008

First Retail Partners Named Exclusive Agent for Town Center at Aquia

Washington, DC May 9, 2008 First Retail Partners is pleased to announce that it has been named as the exclusive retail leasing agent for the Town Center at Aquia in Stafford County, VA. The project, located just off I-95 and Route 610 (Garrisonville Road), is a complete repositioning of an existing shopping center into a lifestyle oriented mixed-use town center.

The Town Center at Aquia, developed by Ramco-Gershenson once complete will include approximately 320,000 square feet of retail space, up to 350,000 square feet of office and 268 new residential units. “This Town Center is a great addition to our portfolio of properties and the timing is ideal to capitalize on the growth in the market and with retailers that are seeking to expand in Stafford County,” said Scott Thiell, partner, First Retail Partners. “Stafford County, an outer tier suburb of the Washington, MSA, is the second fastest growing county in Virginia, and the site is situated along a major growth corridor for high technology and residential development, an ideal scenario for retail” said Thiell.

The primary trade area includes a population exceeding 126,000 with average household income levels above $85,000 within 1 mile of this project.

“The expansion of this project will include a theater, a major office component, and up to 150,000 square feet of specialty retail, all designed to create a vibrant, 24/7 town center environment,” said Thiell. “The newly featured retail and entertainment uses will help to establish this project as a true retail destination, appealing to local residents as well as tourists to the region, ” said Thiell