Virginia

Ingka Group to Invest $2.2 Billion in New IKEA Locations, Omnichannel Growth Across US

by Hayden Spiess April 20, 2023

Leiden, Netherlands — Ingka Group has announced plans to invest $2.2 billion over the course of the next three years on new IKEA retail locations and omnichannel growth across the United States. The Leiden, Netherlands-based company is the largest owner of IKEA stores globally, representing more than 90 percent of IKEA retail sales with more than 370 stores and 100 home décor planning studios open across 31 countries. The initial phase of investment will include opening eight stores in IKEA’s traditional format and nine “Plan and Order” points, which are …

April 20, 2023

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Matthews Brokers $20.1 Million Sale of Napa Auto Parts Portfolio

by Hayden Spiess April 18, 2023

Los Angeles — Matthews Real Estate Investment Services has brokered the $20.1 million sale of a portfolio comprising 12 single-tenant retail properties. Located in Alabama, California, Florida, Georgia, Illinois, Mississippi, New York, North Carolina, Texas, Virginia and Washington, the properties are all occupied by Napa Auto Parts on a net-lease basis. Brandon Perez and Bill Pedersen of Matthews arranged the sale on behalf of the undisclosed limited liability company. A publicly traded REIT purchased the portfolio.

April 18, 2023

Development Investment sales News Virginia

Uptown Alley to Open 64,000-Square-Foot Entertainment Venue in Williamsburg, Virginia

by Hayden Spiess April 6, 2023

Williamsburg, Va. — Entertainment concept Uptown Alley has purchased the former Yankee Candle building in Williamsburg, with plans to open its fifth entertainment venue. The multilevel, mixed-use building is located on a six-acre site at 2200 Richmond Road. Dawn Griggs and Rob Wright of Cushman & Wakefield | Thalhimer represented the seller, Fulton Bank, in the $4 million sale. Upon completion, which is scheduled before the end of this year, the venue will feature upscale bowling, duckpin bowling, an arcade and a chef-driven restaurant.

April 6, 2023

Company news News Virginia

Divaris Real Estate Acquires McGarey Group

by Hayden Spiess March 7, 2023

Virginia Beach, Va. — Divaris Real Estate has acquired The McGarey Group, which specializes in mixed-use retail development, leasing and advisory services. McGarey Group will operate as a division of Divaris moving forward, with its team retaining their current roles. Denver McGarey, who has 40 years of industry experience, leads The McGarey Group, which has been involved in projects totaling 41 million square feet across the U.S., China and Japan. “Denver and his team have ambitious work ethic, unwavering commitment to integrity and an impressive track record of delivering exceptional …

March 7, 2023

Grocery-anchored Investment sales News Virginia

Legacy Brokers $4.1 Million Sale of Shopping Center in Southern Virginia

by Hayden Spiess March 1, 2023

Danville, Va. — Legacy Realty Group Advisors has brokered the $4.1 million sale of Cain Creek Shopping Center, a 60,000-square-foot retail center located in Danville. Food Lion and Family Dollar anchor the property, which was fully occupied at the time of sale. Jacob Baruch of Legacy represented both the buyer and seller in the transaction.

March 1, 2023

Investment sales News Virginia

Cushman & Wakefield | Thalhimer Brokers $4.8 Million Sale of Roanoke Retail Center

by Hayden Spiess February 13, 2023

Roanoke, Va. — Cushman & Wakefield | Thalhimer has brokered the sale of Oak Grove Plaza in Roanoke. Omma Management LLC purchased the property for $4.8 million. Located at 2061 Electric Road, the retail center comprises 49,881 square feet. William D. Poe and Payal Shah of Cushman & Wakefield | Thalhimer represented the undisclosed seller in the transaction.

February 13, 2023

Investment sales Net lease News Virginia

Avison Young Brokers $20.4 Million Sale of Single-Tenant Property in Suburban Washington, D.C.

by Hayden Spiess January 12, 2023

Tysons, Va. — Avison Young has brokered the sale of a 32,857-square-foot, single-tenant retail property located in Tysons, a western suburb of Washington, D.C. An institutional buyer acquired the building for $20.4 million. Jonathan Hipp, Richard Murphy and Timothy Farrell of Avison Young represented the seller, an entity doing business as Qualified Opportunity Fund LLC. REI Coop occupies the property on a net-lease basis.

January 12, 2023

Investment sales News Virginia

SRS Facilitates Sale of 46,793-Square-Foot Shopping Center in Northern Virginia

by Hayden Spiess January 6, 2023

McLean, Va. — SRS National Net Lease Group has arranged the sale of Featherstone Plaza, a 46,793-square-foot shopping center located in McLean, a suburb of Washington, D.C. Andrew Fallon, Rick Fernandez and Philip Wellde of SRS arranged the $5.2 million sale on behalf of the undisclosed owners. Originally built in 1966 and comprising two buildings, the property was fully leased at the time of sale. 7-Eleven anchors the shopping center.

January 6, 2023

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Development Mixed-use News Virginia

Cordish Cos. to Build $1.4 Billion Mixed-Use Development in Metro Richmond

by Hayden Spiess December 22, 2022

Petersburg, Va. — Cordish Cos. has announced plans for a $1.4 billion mixed-use project located in Petersburg, roughly 24 miles south of Richmond. Upon completion, the development, dubbed Live! Gaming & Entertainment District, will comprise 4 million square feet, including 600,000 square feet of retail, dining and entertainment space. The property will also include 1,300 residential units, 500 hotel rooms and office space. Built in phases, the project’s first phase will consist of the Live! Casino & Hotel Virginia, pending legislative approval. Plans for the first phase include 670,000 square …

December 22, 2022

Leasing New Jersey News Virginia

PREIT Signs New Tenants at 19 Locations

by Hayden Spiess December 16, 2022

Philadelphia — PREIT has executed leases with new tenants at 19 locations throughout its portfolio. The new tenants include Daily Thread, which will open stores at 9 locations; Uniqlo, which will open at Cherry Hill Mall in New Jersey; Carter’s, which will lease space at Springfield Town Center in Virginia; Lovisa, which will occupy space at five additional centers; and Windsor Fashions, which will open at three locations.

December 16, 2022

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