• Home   >>
• Media Room
• Recent Press Releases
• Archives
• Rapp Up

Media Room Rappaport

Media contact Jarnell Bonds 571.382.1248

Rappaport Press Release

Festival at Old Bridge to Undergo Renovation and Name Change

Woodbridge, Virginia

5/9/2013

Woodbridge, Va. – Capstone Advisors of Carlsbad, Ca. has received permit approval from Prince William County for the renovation of its 235,000-square-foot, Food Lion-anchored shopping center. As part of the renovation, the center will be renamed Dillingham Square to reflect its location on Dillingham Square, which is just off Old Bridge Road in Lake Ridge area of Woodbridge.

Construction will begin next week and is expected to be completed by the fall of 2013. All businesses at the shopping center will remain open during construction, and the center’s annual trick-or-treat event will go on as scheduled.

“Our primary goal is improving visibility,” explained Ira Schwartz of Capstone Advisors. “We will add architectural features that will add height to the center, making businesses more visible from Old Bridge Road.”

The remodeling program will include a façade renovation that will add dormers and peaks across portions of the center and on the free-standing buildings, new landscaping, asphalt repairs and new signage throughout the center. The landscaping plan includes improving sight lines along Old Bridge Road by removing overgrown and misshapen plants. New trees, planting beds, shrubs and ornamental grasses will be planted at the center, creating a warm and inviting environment, according to Schwartz.

“We’re really excited about the renovation,” said Payton Polychrones of Michael’s Florist. “Small businesses are what make Festival at Old Bridge special, and we’re thrilled the renovation will make us more visible to those who drive by the center.”

The Rappaport Companies of McLean, Va., will provide construction management services for the project, as well as continue to provide property management and leasing services. The general contractor is Ashland Construction. The architect is Rounds Van Duzer Architects, and the landscape architect is Landgarden Landscape Architects.

Festival at Old Bridge shopping center is at Dillingham Square and Old Bridge Road in Woodbridge. The center is anchored by Food Lion and Gold’s Gym and is owned by Old Bridge Investments, LLC. For leasing information, please contact Jim Farrell at 571-382-1229 or Jason Yanushonis at 571-382-1223.

***

Capstone Advisors is a diversified real estate investment, development and advisory firm with a proven track record of having acquired approximately 5.4 million square feet of commercial properties throughout the U.S. across multiple real estate cycles and product types. Since 1996, Capstone has served as operating partner, advisor, capital provider, joint venture partner and developer for some of the most well regarded financial institutions in the world. The company is also one of the most recognized and respected for-sale residential investors in the western United States. Capstone Advisors is headquartered in Carlsbad, California.

The Rappaport Companies provides retail leasing, tenant representation, property management, construction management, development, marketing, consulting and receivership services for retail space in shopping centers and mixed-use properties throughout Washington, D.C., Maryland and Virginia. Rappaport’s clients include some of the Washington, D.C. area’s most prominent landlords, asset managers, commercial real estate companies, financial institutions and retailers. Headquartered in McLean, Va., The Rappaport Companies was established in 1984 by CEO Gary D. Rappaport.