A 7,800-square-foot retail strip center in Chesapeake sold for $3.15 million, according to a March news release from S.L. Nusbaum Realty.
Located at 1508 Sam’s Circle, Battlefield Shops has five tenants. It is shadow anchored by Walmart, Sam’s Club, At Home and Dollar Tree stores.
Battlefield Freedom Wash sold the property to Grit Andrew LLC. Doug Aronson, a senior managing director, and Carter Wells, an associate, both with SLN Capital Markets, represented the seller.
Merchant’s Walk Shopping Center in Henrico County has sold for $18.4 million.
Qi Lin, a local investor who in 2022 purchased the Southpark shopping center in Chesterfield County for $5.4 million, purchased Merchant’s Walk, according to Divaris Real Estate. Located at 7580 W. Broad St., Merchant’s Walk is at the intersection of West Broad Street and Wistar Roads in Henrico’s West End.
The 219,972-square-foot shopping center features 38 retail stores, including anchor tenants Food Lion, AutoZone and a Joann Fabrics and Crafts store. In addition to brokering the sale, Divaris Real Estate will also handle leasing, and Divaris Property Management Corp. will take on property management responsibilities for the 20-acre property.
“A recurring customer is one of the most rewarding parts of the job,” John Madures, a senior vice president for Divaris Real Estate who facilitated the sale, said in a statement. “It has been exciting to be a part of growing this investment portfolio for our buyer, and we are proud to have been selected to lease and manage this property as well.”
Merchant’s Walk has a 97% occupancy rate and had 2.2 million visitors in the last year. Future plans for the shopping center include improvements to the parking lot, landscaping enhancements and new roofing. Two smaller retail sites are currently available for lease.
Madures is also assisting Lin in the sale of the 7,153-square-foot Broad Rock strip mall on Walmsley Boulevard in South Richmond. Built in 1965, that property’s tenants include Little Caesars and Allied Cash Advance. Additional information about the sale was not immediately available.
John Owendoff of Cushman & Wakefield and Catharine Spangler of Cushman & Wakefield | Thalhimer represented the seller, an affiliate of Hackney Real Estate Partners.
During his time on Winchester City Council, Jeff Buettner recalls, plans to revitalize Ward Plaza shopping center were a frequent topic of conversation at every council retreat, going back as far as 1998. Now, as interim executive director of the Winchester Economic Development Authority, he believes that vision is coming close to fruition.
“It is a project that is near and dear to my heart,” Buettner says. “It’s just been floating out there for so long, and this is as close to having something happen as I’ve seen in my time involved with city government.”
The 19.6-acre property, originally opened as a shopping center in the 1960s, finally sold on June 1 after decades on the market. H. Paige Manuel, who represented the former owners, Walter Enterprises, in the sale, says the buyer, McLean investor John W. Gray Jr., intends to demolish the existing structures in November, with plans to replace Ward Plaza with a mixed-use development, including residential units and a smaller shopping center that the new owners — Winchester Acquisition Partners, the company name Gray purchased the shopping center under — hope will be anchored by a supermarket. Manuel says the area is currently a food desert, an area with limited options to purchase healthy, affordable food.
“If we get your typical footprint of a 40,000-square-foot supermarket, you’re probably looking at a 50,000- to 60,000-square-foot shopping center,” Manuel says.
Gray declined to comment on his plans before October, but Buettner says that Gray is finalizing details on potential tenants at the new shopping center.
Winchester City Manager Dan Hoffman, who was also involved in talks regarding the property, said in a statement that Ward Plaza has been a priority for many years in the city’s comprehensive plan, named as one of five “catalyst” sites which are intended to bring walkability, mixed-use development and improved street connections to the area.
“This project will bring vital housing and retail opportunities to the Winchester community and spur economic development in the heart of Winchester’s commercial district,” Hoffman said in the statement.
Buettner knows that even with the sale of the property, the developer will still have to apply for rezoning and present a site plan before the city can approve it and redevelopment can begin: “It’s up to the developer to take it across the finish line, but we have confidence based on everything we’ve seen.”
Fernau LeBlanc Investment Partners has sold Wistar Center, a three-building flex industrial and retail portfolio, in Henrico County, to Prudent Growth Partners LLC for $7.25 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced.
The portfolio, at 8101-8157 Staples Mill Road, consists of approximately 49,092 total square feet, including a 20,436-square-foot Class A retail strip center and two flex industrial buildings totaling 28,656 square feet. Its 20 tenants include a diverse group of flex and retail occupiers, including health care, service retailers, commercial contractors and cybersecurity firms.
Prudent Growth Partners LLC acquired the property on April 27. Sale negotiations were handled by Bo McKown, Catharine Spangler, and Eric Robison of Cushman & Wakefield | Thalhimer’s Capital Markets Group.
The CheckSmart Plaza strip mall in Virginia Beach has a new owner.
5650 Virginia Beach Blvd purchased the strip mall at 5650 Virginia Beach Blvd. from the Lenhart-Frauenberg Partnership for $1.7 million as an investment, according to Cushman & Wakefield | Thalhimer. Built in 2006, the shopping center is 8,537 square feet, with tenants including a CheckSmart, Liberty Tax, and Subway. It’s near the intersection of East Virginia Beach Boulevard and Newtown Road.
Ted Levin, of Cushman & Wakefield | Thalhimer, handled the sale negotiations on behalf of the seller.
Q&L Realty LLC has purchased the Southpark Square Shopping Center in Colonial Heights from the Colonial Heights Land Associates Limited Partnership for $5.45 million, Divaris Real Estate Inc. announced Thursday.
The 35,705-square-foot retail shopping center is located at 1829-1865 Southpark Blvd. in Colonial Heights. The shopping center is on 6.67 acres of land about 20 minutes south of Richmond.
Colonial Heights Land Associates LP has owned the shopping center since 2005. Party City, For Eyes and Landmark Financial are tenants in the shopping center. Q&L plans to add landscaping improvements, new signage and parking lot upgrades.
Divaris will handle leasing responsibilities for the shopping center. John Madures of Divaris negotiated the deal.
Spartan Square, a 180,346-square-foot shopping center in Salem, has been sold for $16.5 million, Colliers announced on Jan. 18.
Spartan Square Limited Partnership sold the 91% leased shopping center to a joint venture between Essential Growth Acquisition Properties and Viking Partners. The shopping center is anchored by a Kroger and tenants include Dollar Tree, Pet Supplies Plus, Starbucks and Truist. It is located at 1425-1499 Main St. in Salem.
Will Bradley, Mark Williford, Peter Vick and Harrison Hall of Colliers International represented the seller.
White Marsh Shopping Center in Gloucester County has sold for $4.1 million to Nexus Capital LLC.
The seller of the property was White Marsh Properties LLC, which was the owner for more than 40 years.
The shopping center, first developed in 1961, has 110,029 square feet, which includes 15,046 square feet of mini storage units and 94,983 square feet of retail space, including Bubba’s Shrimp Shack, Moody’s Event Center and others. The center is about six miles north of the George P. Coleman Memorial Bridge.
Janet Moore, with Berkshire Hathaway Home Services, who represented the seller, said the center was home to long-term local businesses and the owner was passionate about promoting aspiring entrepreneurs.
At the time of the purchase, the shopping center was 96% leased and days later, 99% was leased, with one vacancy remaining.
Kevin E. Cox ,with Porter Realty Co., represented the buyer.
The shopping center formerly known as Falls Plaza in Falls Church has a new look and a new name: Birch & Broad.
Renovations are now complete at the 144,000-square-foot strip mall, which is anchored by a Giant Food supermarket. Other tenants include Conte’s Bike Shop, CVS Pharmacy, Plaka Grill, Starbucks, Jersey Mike’s and Road Runner Sports.
Birch & Broad is owned by North Bethesda, Maryland-based Federal Realty Investment Trust. Falls Church contractor L.F. Jennings Inc. oversaw the construction, which started in April. The cost of the renovations was not disclosed. The work includes an updated facade, new signage, decorative lighting and outdoor amenities.
New merchants in the shopping center include Taco Rock, Crumbl Cookies, Bolay Fresh Bold Kitchen and Aqua-Tot Swim Schools.
A shopping center on Tidewater Drive in Norfolk with 20 acres of land sold for $25 million, Cushman & Wakefield | Thalhimer announced Monday.
River City Capital LLC purchased the 246,000-square-foot Southern Shopping Center from Southern Shopping Center LLC.
Situated on 20 acres, Southern Shopping Center is anchored by a Food Lion grocery store; other tenants include Shoe Dept., GameStop, The Athlete’s Foot, Sally Beauty Supply, Dollar Tree, H&R Block, America’s Best Wings and Rent-A-Center, among others. The property also has standalone buildings, including a Ruby Tuesday restaurant, Chartway Federal Credit Union and Bojangles.
Sharon Ryals-Taylor of Cushman & Wakefield | Thalhimer handled sale negotiations on behalf of the seller.
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