AmCap Inc. purchased Ashbrook Commons of Loudoun County, VA, which is ranked as America’s wealthiest county. AmCap made the Ashburn, VA purchase with its US state pension system capital partner for the official purchase price of $62.3 million. This property is a leading grocery-anchored shopping center and counts Harris Teeter (Kroger), Home Goods, and A.C. Moore among the major retailers of the 34 tenant roster.
The complex, including pad sites, has a gross area of 198,589 SF. The property is adjacent to Route 7 (Harry Byrd Highway), one of the most heavily-trafficked highways in Northern Virginia (69,300 VPD). Route 7 connects the communities of Leesburg, Tysons Corner, and Alexandria, and intersects the I-495 Capital Beltway. Loudoun County benefits from the nation’s very best demographics. Average household income within a 3-mile radius is nearly $160,000, which is 2.3 times the national average. Population within a 3-mile radius is over 70,000 and is projected to grow at 2.5% per annum for the next five years. More than 63% of the adult population holds a bachelor’s degree or higher. Loudoun County has over 325,000 people, and is listed as the nation’s #1 wealthiest county according to the U.S. Census Bureau.