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Chesapeake shopping center sells for $20.05M
Tenants include Value City Furniture, PetSmart and Dollar Tree
An aerial view from Chesapeake property records of the shopping center at 4300 Portsmouth Blvd.
An aerial view from Chesapeake property records of the shopping center at 4300 Portsmouth Blvd.
Chesapeake shopping center sells for $20.05M
Tenants include Value City Furniture, PetSmart and Dollar Tree
Katherine Schulte //July 8, 2024//
A community shopping center in Chesapeake sold for $20.05 million in early June, property records show.
Located at 4300 Portsmouth Blvd., adjacent to the Chesapeake Square mall, the roughly 180,000-square-foot shopping center sold for $18.847 million, and an associated 1.32-acre outparcel sold for $1.203 million.
The shopping center is 90% leased. Its tenants include Value City Furniture, PetSmart and Dollar Tree stores. A portion of the shopping center with a BigLots and a Gabe’s store was not part of the transaction.
RCC Chesapeake Center LLC, whose address is the same as Richmond-based Hackney Real Estate Partners’ address, purchased the properties from Chesapeake Center LLC and from Chesapeake Center Outparcel LLC, whose address matches that of Washington Prime Group’s Columbus, Ohio, headquarters. Newmark represented the seller in the transaction.
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