Positioning Retail Real Estate for a New Generation

November 6, 2020

  • Posted on:  Friday, 13 November 2020 21:55
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Quickway Japanese Hibachi Joins Tenant Roster at Crossroads Place

Fast-Casual Franchise Inks 2,100-SF Lease at Falls Church, Va., Shopping Center

FALLS CHURCH, Va., Nov. 6, 2020 – A fall lease commitment by fast-casual restaurant franchise Quickway Japanese Hibachi brings a new dining tenant to Crossroads Place in Falls Church and underscores the market’s appeal for retailers – even in today’s challenging business climate. Commercial real estate services firm Levin Management Corporation (LMC) serves as exclusive managing agent for the 346,000-square-foot shopping center.

Melissa Webb of Rappaport, who represented LMC in this transaction, arranged the long-term, 2,100-square-foot lease; Leonard Pick with Renaud Consulting represented the tenant.

“Crossroads Place offers a great location in a high-demand market,” said Webb. “This business owner had his eye on the property for some time, and opted to seize the opportunity to lock in a commitment this fall – a move that underscores strong confidence in the market today and moving forward. In turn, Quickway Japanese Hibachi will expand the center’s diverse dining options, and we are excited to welcome this growing chain to Crossroads Place.”

Since 2012, Quickway Japanese Hibachi has grown into 25 cities throughout the Washington, D.C., metropolitan area. Vegetables and proteins are prepared teppanyaki-style (on a Japanese flat griddle). The chain’s cooked-to-order menu includes tofu, chicken, beef, shrimp and salmon served with mixed vegetables, rice or noodles. Other menu options include bento boxes, Poke bowls, and specialty and sushi rolls.

Additional Crossroads Place restaurant tenants include Longhorn Steakhouse, Chipotle, Einstein Bagels, Starbucks and The Olive Garden. Anchored by a Giant food store, Burlington Stores, HomeGoods and T.J.Maxx, the center also features Cost Plus World Market, Mattress Warehouse, Office Depot, Advance Auto and PNC Bank.

Located at the heavily traveled intersection of Leesburg Pike and South Jefferson Street, Crossroads Place serves a growing residential population of more than 600,000 people and a daytime population of 340,000 within a five-mile radius. The marketplace offers an average household income of more than $143,000, and the daily traffic count is about 38,000 vehicles per day on Leesburg Pike.

Retail spaces totaling up to 9,200 square feet remain available at Crossroads Place.

For nearly seven decades, North Plainfield, N.J.-based LMC has served as a trusted single-source commercial real estate services provider for institutional and private owners. The firm today maintains a diversified, retail-focused portfolio of 110 properties totaling almost 15.5 million square feet in the Northeast and Mid-Atlantic states, offering leasing, property management, financial management and reporting, construction management and development, lease administration, marketing services, and acquisition and disposition consulting services. LMC’s capabilities 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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