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Eidi Properties portfolio
IllinoisIndianaInvestment salesMichiganNewsNorth CarolinaVirginia

Eidi Properties Acquires 39 Shopping Centers Totaling 650,257 Square Feet Across Six States

by Abby Cox

Toledo, Ohio — Toledo-based Eidi Properties has acquired 39 shopping centers totaling 650,257 square feet across Illinois, Florida, Virginia, Michigan, North Carolina and Indiana. This transaction, which features a mix of power centers, grocery-anchored plazas and community hubs, brings Eidi’s portfolio to nearly 80 retail properties and more than 1.5 million square feet. The properties were all purchased from Dembs Development. Joel Jerger of WesBanco, Andy Maher and Brian White of Waterford Bank, N.A., as well as John Skeldon and Joe Bajas of Cooperative Business Services (CBS), all based in …

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Mountain Mike’s Pizza
Company newsLeasingNewsRestaurantsVirginia

Mountain Mike’s Pizza Signs Three-Unit Franchise Agreement in Virginia

by Abby Cox

Irvine, Calif. — Irvine-based Mountain Mike’s Pizza has signed a franchise agreement to open three new locations in Northern Virginia, marking the chain’s introduction to the state. Following its 10-unit development deal in Florida, this agreement brings Mountain Mike’s Pizza to 13 total units slated for the East Coast. The new Virginia restaurants will be developed by local franchisee Niraj Hemrajani, a multi-brand operator with a portfolio of established restaurant concepts including Cold Stone Creamery, Popeyes and Subway.   The fast-casual pizza concept currently operates restaurants in Arizona, California, Colorado, …

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The Learning Experience
Investment salesLeasingNet leaseNewsVirginia

SRS Real Estate Partners Arranges $6.8 Million Sale-Leaseback of Retail Property in Manassas, Virginia

by Abby Cox

Manassas, Va. — SRS Real Estate Partners has arranged the sale-leaseback of a single-tenant retail property located in Manassas, roughly 35 miles southwest of Washington, D.C., for $6.8 million. The Learning Experience, an early childhood education and childcare center, occupies the two-story, 11,150-square-foot property on a triple net lease basis. Originally built in 2023, the facility is operated by one of The Learning Experience’s largest franchisees. Situated at 10219 Dumfries Road, the property sits at the center of a retail corridor that includes a Walmart Supercenter, Harris Teeter, LA Fitness, …

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Metro Washington Retail Portfolio
FinanceMarylandNewsVirginia

Marcus & Millichap Arranges $17 Million Refinancing for Retail Portfolio in Metro Washington, D.C.

by Abby Cox

Silver Spring, Md. and Fairfax, Va. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $17 million loan for the refinancing of a nine-property retail portfolio located in Silver Spring, Maryland, and Fairfax, Virginia. The properties — which total roughly 71,000 square feet — include multi-tenant retail strip centers, single-tenant retail properties and single-tenant restaurants. Jared Cassidy of MMCC’s Washington, D.C. office secured the five-year loan through a local bank. The financing carries a 12-month adjustable rate, 25-year amortization schedule and a 55 percent loan-to-value ratio.

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Cain Creek Shopping Center
Grocery-anchoredInvestment salesNewsVirginia

Legacy Realty Group Brokers Sale of 59,410-Square-Foot Shopping Center in Danville, Virginia

by Abby Cox

Danville, Va. — Legacy Realty Group Advisors has brokered the sale of Cain Creek Shopping Center, a 59,410-square-foot shopping center located in Danville. Food Lion anchors the center. Additional tenants at the property feature a mix of retail stores, restaurants and businesses, including Family Dollar, Danville Dental, Fabulous Beauty Supply and Isabel’s Pizza Pasta & Subs. Jacob Baruch of Legacy Realty Group Advisors represented both the buyer and seller, an affiliate of Fayetteville, Arkansas-based Core Equity Partners, in the off-market transaction.

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Family Dollar
Company newsNew YorkNewsOperationsVirginia

Dollar Tree to Sell Family Dollar Business for $1 Billion

by Abby Cox

Chesapeake, Va. and New York City — Dollar Tree Inc. has agreed to sell the Family Dollar business segment to Brigade Capital Management LP and Macellum Capital Management LLC for $1 billion. The sales price represents a fraction of the $8.5 billion that Dollar Tree paid for the discount brand in 2015. Family Dollar will remain headquartered in Chesapeake. Family Dollar, which caters to low-income customers with its roughly 8,000 U.S. stores, has struggled in recent years. In March 2024, Dollar Tree unveiled plans to close approximately 970 underperforming Family Dollar …

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Three-tenant retail outparcel at Greenbrier Square
Grocery-anchoredInvestment salesNewsVirginia

SLN Capital Markets Sells Three-Tenant Outparcel at Shopping Center for $3.4 Million in Norfolk, Virginia

by Abby Cox

Norfolk, Va. — SLN Capital Markets, a division of S.L. Nusbaum Realty Co., has sold a 7,440-square-foot, three-tenant retail outparcel at Greenbrier Square in Norfolk for $3.4 million. Tenants at the retail strip center include La Hacienda Mexican Grill, Clover Nail Spa and Tobacco Land & Vape. This transaction marks SLN’s seventh retail parcel sold at the 254,000-square-foot grocery-anchored shopping center.

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Grocery-anchoredInvestment salesNewsVirginia

Legacy Realty Arranges Sale of 46,400-Square-Foot Shopping Center in Metro Richmond

by Abby Cox

Colonial Heights, Va. — Legacy Realty Group Advisors has arranged the sale of Walthall Shopping Center, a 46,400-square-foot shopping center in Colonial Heights, roughly 20 miles outside Richmond. Built in 1988, the center is anchored by Food Lion. Additional tenants at the property include a salon, Excel Chinese Restaurant and Swan Cleaners. Jacob Baruch and Daniel Baruch of Legacy represented the undisclosed buyer. Steve Yoon of Champion Realty Investment represented the seller in the off-market transaction.

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Short Pump Shopping Center
Grocery-anchoredInvestment salesNewsVirginia

Wafra Sells 91,369-Square-Foot Short Pump Shopping Center in Metro Richmond

by Abby Cox

Short Pump, Va. — Wafra Inc. has sold Short Pump Station, a 91,369-square-foot shopping center in Short Pump, located roughly 10 miles northwest of Richmond. Nuveen Real Estate acquired the property for nearly $55 million, making the center the investor’s second acquisition in the Richmond metro area. Situated on 147 acres, the retail development is anchored by Trader Joe’s. Other tenants at the property include Ulta Beauty and Petco. John Owendoff of Cushman & Wakefield, along with Catharine Spangler of Cushman & Wakefield | Thalhimer, represented Wafra in the transaction. …

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Midlothian-Depot_Midlothian-Va
DevelopmentGrocery-anchoredInvestment salesMixed-useNewsVirginia

SLN Brokers $16 Million Sale of Development Parcel in Midlothian, Virginia

by Abby Cox

Midlothian, Va. — S.L. Nusbaum Realty Co. (SLN) has brokered the $16 million sale of a 13-acre development parcel located in Midlothian, roughly 14 miles outside Richmond. Larry Agnew and Andrew Thacker of SLN represented the buyer, SJC Ventures, in the transaction. SJC Ventures plans to develop Midlothian Depot, a mixed-use project, at the site. Upon completion, the development will feature a specialty grocer, retail and restaurant space, residential units, multi-modal pathways, green spaces and a dog park. Site work will begin in fall 2025, with vertical construction scheduled to …

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