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First Allied Corporation Invests

McLearen Square Shopping Center Acquired For $11.5 Million
By Jacques Edelin
January 16, 2003 | 8:59 P.M.

First Allied Corp. acquired McLearen Square, a 78,032-square-foot strip shopping center in Herndon, VA, from Sun Life Assurance Co. of Canada for $11.5 million, or about $147 per square foot. Located at the intersection of McLearen and Centreville Roads, the 5-year-old center is currently 100% leased and features Food Lion, CVS Pharmacy, and Texaco as its anchor tenants. Phil Ruxton and Devin Corini of NAI KLNB Retail represented Sun Life in the disposition of McLearen Square. First Allied Corp. is privately held and specializes in the ownership, management, and leasing of community and neighborhood shopping centers located throughout the U.S.

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