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ALEXANDRIA, VA-American Realty Advisors, a Glendale, CA-based company that has been on an acquisition spree of late, recently acquired Alexandria Commons for approximately $65.7 million, at a sub six cap rate, according to market sources familiar with the transaction. The 145,273-square-foot shopping center, located at 3117 Duke St., is about 97% occupied, H&R Retail principal Michael Gorsage tells GlobeSt.com. That, plus its class A status and key location, made it a hotly-contested property, according to Gorsage, who brokered the deal. “We haven’t seen many properties of this quality come to market,” he says. “In the end we had three highly-qualified institutional bidders from which to choose.” A local investor was the seller.

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