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Tag: retail building

Three Norfolk retail buildings sell for $3.3M

Three retail buildings on a portion of a site used for commercial auto sales and service in Norfolk sold for $3.3 million on Dec. 22, 2023.

Michael Sifen Inc. purchased an approximately 5.39-acre portion of 7520 N. Military Highway from Freedom Industrial. The site includes a roughly 30,188-square-foot building, a two-story, roughly 3,030-square-foot building, and an approximately 11,112-square-foot building, according to Colliers. Norfolk property records list commercial auto sales and service as the property use, and the remaining portion of the property holds a Tesla store and service center.

Jeff Parker, Patrick Gill and Chris Read from Colliers represented the seller.

Virginia Beach retail building sells for $5.5M

A retail building in Virginia Beach sold for $5.5 million on Dec. 18, 2023.

Located at 5169 Virginia Beach Blvd., the freestanding retail building is 59,162 square feet, and the plot of land is almost 136,999 square feet, according to city property records. The current tenant is a Havertys Furniture store.

5169 VB BLVD LLC purchased the property from OLP Havertportfolio. Pat Mugler and Ricky Anderson from Colliers represented the buyer.

Henrico shopping center sells for $10.1M

A neighborhood retail center in Henrico County sold for $10.1 million on Aug. 17.

Named The Shops at Wellesley, the 42,318-square-foot shopping center is located at 3416-3470 Lauderdale Drive. The center was built in 1992 and occupies a 6.99-acre lot, according to county property records. It was 94% leased at the time of sale with 18 tenants, including Corner Barre and Montessori Kids Universe Short Pump, according to a Cushman & Wakefield | Thalhimer news release.

Raleigh, North Carolina-based Liberty Investment Partners bought the property from Wellesley LLC. Catharine Spangler with Cushman & Wakefield | Thalhimer’s Capital Markets Group and John Owendoff out of Cushman & Wakefield’s Washington, D.C., office completed the transaction. Jim Ashby and Reilly Marchant with Thalhimer’s leasing team assisted in the sale.

Two retail, office buildings in Chesapeake sell for $3.1M

Two buildings with retail and coworking spaces on South Military Highway in Chesapeake have sold for $3.1 million, Cushman & Wakefield | Thalhimer announced Monday.

The 38,800-square-foot and 10,000-square-foot buildings sit on 4.7 acres at 2211 S. Military Highway. The property’s 31 tenants include Amazon.com Inc., FedEx Corp., U-Haul and Laundry Land.

Advisory Investments LLC purchased the property from Chesapeake Virtual Offices & Property Rentals Inc. and plans to allow tenants to lease monthly or annually and to maintain coworking space at the site. Janet Whitbeck with Cushman & Wakefield | Thalhimer represented the seller.

Retail/office collection in Richmond sells for $6.3M

A combined 15,994 square feet of retail and office buildings in Richmond’s West End area sold for $6.3 million in late March, according to Cushman & Wakefield | Thalhimer.

The buildings are located at the corner of Grove and Granite avenues, at addresses 5701-5707 Grove Ave. and 124 Granite Ave. About half of the buildings are leased, and tenants include On U Jewelry, Scents of Serenity Organic Spa and Victoria Charles Jewelry, according to Reilly Marchant from Cushman & Wakefield | Thalhimer, who represented the seller.

KLCN LLC purchased the portfolio from Muhleman Properties LLC. The sale closed on March 31, according to property records.

Albemarle retail building sells for $2.3M

Woodhaven Development Group LLC purchased a 3,204-square-foot retail building in Albemarle County from First Citizens Bank & Trust Co. for $2.3 million.

The property is located at 1815 Fortune Park Road in Albemarle and will be redeveloped. The building is on 1.35 acres of land off U.S. Route 29 near the Charlottesville-Albemarle Airport.

John Pritzlaff, Jenny Stoner and Norman K. Moon Jr., of Cushman & Wakefield | Thalhimer, handled the sale negotiations on behalf of the seller.