Perhaps the largest concentration of vehicle dealerships in Tysons is on the market.
McLean-based Capital Automotive has retained Newmark Knight Frank Capital Markets to sell a large portion of Dominion Square, its long-planned redevelopment of a collection of dealerships adjacent to the Spring Hill Metro station.
The 18-acre site now for sale is fully entitled for 3.6 million square feet of mixed-use.
NKF envisions Dominion Square as a placemaking opportunity not unlike The Boro at the Greensboro Metro station, or Pike & Rose in North Bethesda. What sets this apart, said Mark Anstine, executive managing director for land services with NKF Capital Markets, is the opportunity to earn pre-development revenue — there are four existing auto dealership leases on-site generating $3.5 million in annual income.
And all four of those leases are terminable. The marketing flyer does not name the leases involved, but based on the map, they appear to include Sheehy Infinity of Tysons, Honda…Read the full story from the Washington Business Journal.