A portion of the Dominion Square West development has been sold, dashing the hope of any commercial redevelopment there, at least for now.
Capital Automotive Real Estate Services Inc. has sold a 3-acre parcel at at 1580 Spring Hill Rd., part of the envisioned Dominion Square West development, for $27 million in a deal that closed Sept. 27. The buyer is an affiliate of the Graham Holdings Co., which owns the Ourisman Automotive dealership that has been leasing the land, said Brian Schmergel, first vice president at CBRE who represented the buyer in the sale. John Ryan, John Kerr and Joe McDonnell, also of of CBRE, represented the seller.
The site currently hosts Ourisman Honda of Tysons Corner, and sits south of Leesburg Pike, close to the Spring Hill Metro station. While Capital had entitled the parcels for up to 880,000 square feet of commercial development, the buyer’s immediate desire is for it to remain an auto dealership for now, Schmergel said.
“Ourisman’s lease was coming up…
Read the full story from the Washington Business Journal.
