Virginia

Salem, Va. — A joint venture between Essential Growth Acquisition Properties and Viking Partners has acquired Spartan Square, a 180,346-square-foot shopping center in Salem, about 15 miles west of Roanoke. Will Bradley, Mark Williford, Peter Vick and Harrison Hall of Colliers represented the seller, an entity known as Spartan Square LP, in the transaction. The sales price was not disclosed. Anchored by Kroger, Spartan Square was 91 percent leased at the time of sale to tenants including Dollar Tree, Pet Supplies Plus, Starbucks and Truist.

Marion, Va. — SRS Real Estate Partners’ Investment Properties Group has brokered the sale of Marion Shopping Center, a 50,275-square-foot multi-tenant retail center in Marion. The buyer, Eire Investments USA LLC, purchased the property for an undisclosed price. Kyle Stonis and Pierce Mayson of SRS represented the undisclosed seller in the transaction. Anchored by Food Lion, Marion Shopping Center is fully occupied by retailers such as CVS/pharmacy and Fresenius Medical Care. Both Food Lion and CVS/pharmacy have been at the property for over 35 years. Fresenius recently signed a 10-year …

Arlington, Va. — McCaffery Interests Inc. has sold a 3,100-square-foot retail property located roughly five miles outside Washington, D.C., in Arlington for $4 million. Built in 1979, the 3,100-square-foot, two-story property was occupied by Wireless Rxx and Starbucks Coffee at the time of sale. Andrew Fallon and Rick Fernandez of SRS represented the seller in the disposition of the property to an undisclosed, Virginia-based private buyer operating in a 1031 exchange.

Alexandria, Va. — SRS National Net Lease Group has brokered the $27 million sale of a Whole Foods Market-occupied retail property in Alexandria, roughly 10 miles outside Washington, D.C. The 42,243-square-foot Whole Foods is located within The Royalton, a 116-unit residential property built in 2006. Andrew Fallon and Rick Fernandez of SRS, along with Joe Friedman of Edge Capital Markets, represented the undisclosed seller, a family trust based in Hawaii, in the transaction. Benderson Development Inc. was the buyer.

Colonial Heights, Va. — United Hampshire US REIT has acquired Colonial Square, a 168,326-square-foot grocery-anchored shopping center located at 3107 Blvd. in Colonial Heights, a suburb of Richmond. Located off Interstate 95, Colonial Square was 99 percent leased at the time of sale to tenants including Publix, Locke Supply Co., Wells Fargo and Dollar General. Jordan Lex, Daniel Naughton and Bill Moylan of JLL represented the seller, Colonial Square Associates.

Zion Crossroads, Va. — Cushman & Wakefield | Thalhimer has arranged the $4.9 million sale of Freedom Drive Shops, a 10,296-square-foot retail strip center in Zion Crossroads, about 17 miles from Charlottesville. The property is fully leased to tenants such as Dunkin’ Donuts and Anytime Fitness. The sale also included adjoining land for future development totaling approximately 3.5 acres on Freedom Drive at Route 15. L&D Land Trust purchased the retail center and surplus land from an entity known as Freedom Drive Shops LLC. Catharine Spangler and John Pritzlaff of …

Richmond, Va. — An affiliate of Klein Enterprises has acquired The Row at GreenGate, a 100,000-square-foot shopping center located within the 75-acre GreenGate master-planned development in Richmond. Markel | Eagle sold the property in an off-market transaction. Built in 2017, the center is 94 percent leased to tenants including Lidl, Starbucks Coffee, Pure Barre, Purify, The Daily Kitchen & Bar, Red Salt Chophouse & Sushi and The Mellow Mushroom. Colliers represented the undisclosed seller in this transaction, and will continue to handle leasing of the property. JLL represented Klein in …

Charlottesville, Va. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has arranged the sale of Rio Roads Shops, a 14,696-square-foot retail strip center located in Charlottesville. Catharine Spangler of Cushman & Wakefield | Thalhimer represented the seller, Rio Road Shops LLC. A private, Richmond-based investment firm acquired the property for $7.2 million as part of a 1031 exchange. The center is fully leased to five tenants, including Verizon, Jimmy Johns, Mattress Firm, SportClips and Vitamin Shoppe.