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Metro Washington Retail Portfolio
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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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Forest-Hill-Shopping-Center_Lynchburg
Investment salesNewsVirginia

Coldwell Banker Commercial Read Brokers $6 Million Sale of Shopping Center in Lynchburg, Virginia

by Katie Sloan

Lynchburg, Va. — Coldwell Banker Commercial Read & Co. has brokered the $6 million sale of Forest Hill Shopping Center, an 82,000-square-foot retail center located at 2820 Linkhorne Drive in Lynchburg. Rick Read and Ricky Read of Coldwell Banker Read represented the seller, an entity doing business as Lynchburg Investment Co. Inc., in the transaction. The brokerage firm has served as the landlord rep for the retail center for the past 20 years. The buyer, Swintstorage Conversion Fund LLC, plans to convert the shopping center’s anchor store into a self-storage facility …

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Investment salesNewsVirginia

Cohen & Steers, DLC Acquire 119,085-Square-Foot Shopping Center in Metro Washington, D.C. 

by Hayden Spiess

Springfield, Va. — Cohen & Steers and DLC have acquired Springfield Commons, a 119,085-square-foot shopping center located in Springfield, approximately 15 miles outside Washington, D.C. Tenants at the property, which was 78 percent leased at the time of sale, include Pure Gym, Old Navy, Pure Hockey and Staples. The center is situated across from Springfield Town Center. “Valuations in the open-air shopping center sector are attractive,” says James Corl, head of the private real estate group at Cohen & Steers. “The market is revealing compelling investment opportunities.”

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West-Falls_Falls-Church
DevelopmentLeasingMixed-useNewsVirginia

Two Tenants Sign Leases at West Falls Mixed-Use Development in Northern Virginia

by Hayden Spiess

Falls Church, Va. — Two new tenants are set to join West Falls, a 10-acre mixed-use development currently underway by Hoffman & Associates in Falls Church. Upon completion, the development will span 1.2 million square feet. The new tenants, Dok Khao Thai Eatery and a Chase Bank branch, are scheduled to open at the project next August and next April, respectively. West Falls will feature more than 120,000 square feet of shops and restaurants, as well as The Alder apartments, The Reserve at Falls Church seniors housing community, a Home2 Suites …

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