Virginia

317-339 Thacker Ave.
Investment salesNewsVirginia

Marcus & Millichap Negotiates $4.4 Million Sale of 32,023-Square-Foot Retail Center in Covington, Virginia

by Abby Cox

Covington, Va. — Marcus & Millichap has negotiated the $4.4 million sale of a 32,023-square-foot retail center located at 317–339 Thacker Ave. in the Western Virginia city of Covington. The center is shadow anchored by Walmart Supercenter, which has operated at the adjacent site since 2007. Built in 1998 on roughly 4.4 acres, the retail property was 92 percent leased at the time of sale to tenants including Dollar Tree, Cato, Shoe Show and T-Mobile, as well as several restaurants and service-oriented businesses. Zach Taylor and Eric Abbott of Marcus & …

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West Falls
Mixed-useNewsRestaurantsRetailersVirginia

Hoffman & Associates, Partners Complete 10-Acre West Falls Mixed-Use Development in Metro D.C.

by Abby Cox

Falls Church, Va. — Hoffman & Associates, alongside a group of development partners that includes Rockwood Capital and Grosvenor Americas, has completed West Falls, a 10-acre mixed-use development in Falls Church. The transit-oriented project sits about 10 miles west of Washington, D.C., and is located near the West Falls Church Metro station. Hoffman & Associates, a local developer that is perhaps best known for leading the development of the $3.6 billion Wharf mixed-use waterfront destination in D.C., partnered with the City of Falls Church and Torti Gallas + Partners, to bring the project …

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Academy Sports + Outdoors
AlabamaCompany newsDevelopmentFloridaGeorgiaIndianaMississippiNewsOhioSouth CarolinaTennesseeTexasVirginia

Academy Sports + Outdoors Opens 11 New Stores in Third Quarter 2025 

by Abby Cox

Katy, Texas — Katy, Texas-based Academy Sports + Outdoors has opened 11 new stores in the third quarter of this year, with plans to debut a total of up to 25 new locations in 2025. The sporting goods and outdoor recreation retailer has already launched three new locations in Boardman, Ohio; Beaufort, South Carolina; and Virginia Beach, Virginia; and will open eight more stores in fall 2025 in Rome, Georgia; Cullman, Alabama; Mishawaka, Indiana; Lakeland, Florida; Columbia, Tennessee; Albany, Georgia; Palestine, Texas; and Batesville, Mississippi. The 11 new store openings this …

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The HoneyBaked Ham Co.
DevelopmentIowaMarylandNewsNorth CarolinaVirginia

HoneyBaked Ham Co. Signs Eight-Unit Franchise Agreement

by Abby Cox

Alpharetta, Ga. — Alpharetta, Georgia-based food retailer The Honey Baked Ham Co. has signed a franchise agreement with The Davis Restaurant Group to open eight new stores. The first store openings are planned for September 2026 in Bel Air, Maryland; Chesapeake, Virginia; and Des Moines, Iowa. In September 2027, additional HoneyBaked locations are projected for Chesapeake and Des Moines, as well as Mint Hill, North Carolina. Lastly, the expansion will continue into 2028, with more stores anticipated for Chesapeake and Waxhaw, North Carolina. Matt Davis of The Davis Restaurant Group, …

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Lynnhaven Square
Investment salesNewsVirginia

National Asset Services, Colliers Negotiate $8.6M Sale of Lynnhaven Square in Virginia Beach

by Abby Cox

Virginia Beach, Va. — National Asset Services (NAS) and Colliers have negotiated the $8.6 million sale of the 22,933-square-foot Lynnhaven Square in Virginia Beach on behalf of the shopping center’s ownership group. The center was last acquired in 2005 by a group of eight tenant-in-common (TIC) investors. NAS has served as the asset management company for the group since 2008. Shirlee Kingsley of NAS secured a refinancing solution in 2015 that preserved the original TIC ownership structure and its tax advantages. Lynnhaven Square has maintained full occupancy both during the 2015 …

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Lucky Strike Bowling
Company newsEntertainmentNewsVirginia

Lucky Strike Entertainment Buys 58 Existing Locations for $306 Million 

by Abby Cox

Richmond, Va. — Richmond, Virginia-based Lucky Strike Entertainment, operator of bowling alleys and entertainment venues, has purchased 58 of its existing locations for $306 million. The deal aims to reduce annual rent obligations, while eliminating the risk of future lease inflation, say company representatives. Lucky Strike will continue to operate each of the locations after the deal closes. The transaction was financed through a $230 million bridge facility under Lucky Strike’s revolving credit line, as well as cash on hand. Spanning 16 states, the 58-property portfolio includes locations in California, …

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Springfield Town Center
FinanceMixed-useNewsVirginia

PREIT Receives $150 Million in Financing for Springfield Town Center

by Abby Cox

Springfield, Va. — PREIT has received $150 million in financing to recapitalize Springfield Town Center, a mixed-use redevelopment of the former Springfield Mall in Northern Virginia, roughly 14 miles outside Washington, D.C. The regional shopping center features 1.4 million square feet of retail space, including a 32,000-square-foot LEGO Discovery Center that opened in 2023. Other tenants include Build-A-Bear, Burger King, Chuy’s, Dave & Buster’s, Dick’s Sporting Goods, Finish Line, Five Below, H&M, Hot Topic, JC Penney, LA Fitness, Macy’s, Maggiano’s, Nordstrom Rack, Regal Cinema, Sephora, Toys “R” Us and Target. Goldman …

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PINSTACK
DevelopmentEntertainmentNewsVirginia

PINSTACK to Open 56,000-Square-Foot Entertainment Venue in Dulles, Virginia

by Abby Cox

Dulles, Va. — Dallas-based PINSTACK, a dining and entertainment destination, will open a 56,000-square-foot venue within the 424-acre mixed used development of Kincora in Dulles, roughly 32 miles west of Washington, D.C. The venue will feature a full-service restaurant and bar, bowling lanes, an arcade, rock wall, high-ropes course, interactive games and simulator technology, bumper cars and private event spaces. PINSTACK is scheduled to open in 2026.

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Williamsburg Marketcenter
FinanceNewsVirginia

MMCC Arranges $8.2 Million Financing for 176,000-Square-Foot Shopping Center in Williamsburg, Virginia

by Abby Cox

Williamsburg, Va. — Marcus & Millichap Capital Corp. (MMCC) has arranged the $8.2 million financing for Williamsburg Marketcenter, a 176,000-square-foot regional shopping center located at 6610 Mooretown Road in Williamsburg. The 10-year loan includes a 6.3 percent interest rate with a 25-year amortization period and a 75 percent loan-to-value. Garrett Fierstein of MMCC’s Orlando office secured the financing on behalf of a private client. Anchored by Ross Dress For Less and Dollar Tree, the center includes a mix of additional tenants including Supercuts, Ukrop, Navy Federal Credit Union and Petco, …

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FinanceNewsVirginia

Cushman & Wakefield Secures $28.7 Million in Bridge Financing for Manassas Mall in Northern Virginia

by Abby Cox

Manassas, Va. — Cushman & Wakefield has secured $28.7 million in bridge financing for Manassas Mall, a 941,574-square-foot regional mall located in Manassas, roughly 31 miles southwest of Washington, D.C. Miami-based Lionheart Capital was the borrower. Robert Kaplan and Mark Rutherford of Cushman & Wakefield’s Miami office, along with Michael Zelin, Bindi Shah and Ryan McMahon of the firm’s Washington, D.C. office, represented Lionheart Capital in the transaction. Originally developed in 1972, Manassas Mall was expanded in 1988 and renovated in 2016. The mall features more than 80 retailers, including Macy’s, …

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