Rappaport, a leading commercial real estate services firm, has been engaged by Principal Asset Management® to manage operations at West Springfield Shopping Center in Springfield, Virginia. Rappaport also oversees leasing at the property and previously managed a recent redevelopment project.
West Springfield Shopping Center is a grocery-anchored retail destination located at the signalized intersection of Rolling Road in West Springfield. The 86,000-square-foot shopping center serves a local residential population and features a mix of national retailers, popular dining options, and convenient healthcare services.
“We are pleased to expand our relationship with Principal Asset Management and continue our stewardship of West Springfield Shopping Center,” said Rappaport President Henry Fonvielle. “Our intimate knowledge of this property, combined with our comprehensive management platform, positions us to maximize value for the ownership while maintaining the high-quality retail environment that serves this vibrant community.”
Rappaport’s appointment follows the firm’s successful management of a complex redevelopment project at the center, which included relocation and ground-up construction of a new Inova/GoHealth facility and construction of a new grocery anchor, Aldi.
Under the new management agreement, Rappaport will provide a full suite of property management services, including on-site operations, lease administration, accounting and financial reporting, vendor management, and capital project oversight. The firm currently manages over 10 million-square-feet of retail properties across the Mid-Atlantic region.
Principal Asset Management engaged Rappaport to provide management services for the property. The selection was based on the firm’s experience with retail assets and its approach to operational management.
“This appointment highlights our comprehensive, full-service approach to retail property management,” said Fonvielle. “By continuing our work beyond leasing and development into day-to-day management, we’re able to deliver a seamless, integrated strategy that enhances property performance and long-term value.”
The center’s strong tenant mix and strategic location continue to attract both national and local retailers serving the Washington, D.C. metropolitan area.
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