Manassas is set to purchase the Manassas Shopping Center on Mathis Avenue for $16 million to bolster local economic development. The transaction, anticipated to close in July or August 2024, was detailed during a recent joint meeting with the economic development authority on Monday, May 20, 2024, to discuss the terms of the sale.
The city aims to buy the 14-acre shopping center, home to 21 commercial tenants, including Advance Auto Parts and Pitkins Hardware stores. The city agreed to pay owners Four Taylor's LLC $16 million for the property and will become the landlord of the businesses.
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On Monday, May 20, 2024, the Manassas City Council will hold a joint meeting with the Economic Development Authority (EDA) to discuss the pending purchase of the Manassas Shopping Center. The City and the EDA are entering into a cooperation agreement for the acquisition and future redevelopment of the property
Tonight's meeting will focus on finalizing the details of this cooperation agreement, ensuring both the city and EDA are aligned on the purchase and future plans for the Manassas Shopping Center. Overall, Mathis Avenue, on which the shopping center sits, has long been slated for redevelopment.
