Virginia

Red Mountain Group Divests of Two Properties for $3.2 Million

by Hayden Spiess November 15, 2022

Phoenix and Virginia Beach, Va. — Red Mountain Group has sold two single tenant net lease properties for a combined $3.2 million. Rolberto’s Tacos — a drive-thru restaurant located at Cave Creek Road in Phoenix — was sold to entities doing business as KDD63 LLC and Cave Creek DT LLC for $1.1 million. The other property, a Kentucky Fried Chicken in Virginia Beach, Virginia, was sold for $2.1 million to Hilda and Terrence McPherson. Red Mountain Group was represented by Kenneth James Realty in the first transaction and by The …

November 15, 2022

Leasing News Virginia

Rappaport Adds Five New Tenants to Village at Leesburg Shopping Center in Northern Virginia

by Hayden Spiess November 14, 2022

Leesburg, Va. — Rappaport has signed five new tenants to Village at Leesburg, a 550,593-square-foot shopping center located in Leesburg. Rappaport owns, manages and leases the property, which houses more than 75 tenants, including anchors Wegmans, CMX Cinemas, LA Fitness and Bowlero. New tenants include Spitz, a Mediterranean restaurant concept; Altitude Trampoline Park, an entertainment venue with more than 80 locations; Anchor Bar, a wings restaurant concept with more than 50 locations; A Place to Be, a nonprofit based in Middleburg, Virginia, that offers art and music therapy programs; and …

November 14, 2022

Investment sales News Restaurants Virginia

Cushman & Wakefield | Thalhimer Brokers $4.6 Million Sale of Retail Strip Center in Lynchburg, Virginia

by Hayden Spiess November 10, 2022

Lynchburg, Va. — Cushman & Wakefield | Thalhimer has brokered the $4.6 million sale of Shops at Phillips Circle, a retail strip center located at 19399 Forest Road in Lynchburg. Built in 2018, the center was fully leased at the time of sale to tenants including Starbucks Coffee, East Coast Wings and Nothing Bundt Cakes. The Charles and Margaret Levin Family LP based in Washington, D.C., purchased the property from Riverbend Development. Catharine Spangler, John Pritzlaff and Jenny Stoner of Thalhimer represented the seller in the transaction.

November 10, 2022

Investment sales Leasing News Virginia

Matthews Arranges $10.6 Million Sale of Retail Property Leased to CVS/pharmacy in Virginia Beach

by Hayden Spiess November 2, 2022

Virginia Beach, Va. — Matthews Real Estate Investment Services has brokered the sale of a 13,225-square-foot store located at 1701 Independence Blvd. in Virginia Beach. The single-tenant property was leased to CVS/pharmacy at the time of sale. Preston Schwartz and Chad Kurz of Matthews represented the private seller in the transaction. Jason Maier of Stan Johnson Co. represented the undisclosed buyer, which acquired the property for $10.6 million. CVS/pharmacy has a little over 12 years remaining on the lease.

November 2, 2022

Development Investment sales Mixed-use News Virginia

Standard Real Estate Investments to Develop $650 Million Mixed-Use Project in D.C.

by Hayden Spiess October 19, 2022

Washington, D.C. — Standard Real Estate Investments LP, a minority-owned national real estate investment and development firm with offices in Washington, D.C., and Los Angeles, has purchased the Senator Square and East River Park shopping centers in northeast Washington D.C. The centers span 13 acres and are entitled and programmed for a $650 million mixed-use redevelopment that will bring 1,500 residential units — including approximately 300 affordable housing units — and 120,000 square feet of retail space to D.C.’s Northeast Heights district. National Housing Trust is developing 110 of the …

October 19, 2022

Investment sales News Virginia

First National Realty Partners Acquires The Home Depot-Anchored Shopping Center in Metro Washington, D.C.

by Hayden Spiess October 14, 2022

Manassas, Va. — First National Realty Partners LLC has acquired Promenade at Manassas, a 287,000-square-foot shopping center that was built in 1995 in Manassas. A 107,000-square-foot The Home Depot anchors the property, which is situated 31 miles west of Washington, D.C., at the intersection of I-66 and Sudley Road. Other tenants include a 43,000-square-foot Oh! Market, as well as Ashley Home Furniture, Planet Fitness, The Tile Shop and Sherwin-Williams. Ryan Sciullo of CBRE represented the undisclosed seller in the transaction.

October 14, 2022

Grocery-anchored Investment sales News Virginia

ShopOne, Pantheon Acquire Shopping Center in Metro Washington DC

by Hayden Spiess October 3, 2022

Woodbridge, Va. — ShopOne Centers REIT Inc., in a joint venture with Pantheon, has acquired Lake Ridge Commons, a 74,367-square-foot shopping center located in Woodbridge, roughly 20 miles south of Washington, D.C.. Anchored by a 52,706-square-foot Giant Food, the center is also home to tenants including Banfield Pet Hospital and YogaSix.

October 3, 2022

Company news Delaware Investment sales Maryland New Hampshire New Jersey News Virginia

Copper Property Trust Sells Seven East Coast JCPenney Stores for $65.2 Million

by Hayden Spiess September 12, 2022

Jersey City, N.J. — Copper Property CTL Pass Through Trust has sold seven JCPenney retail locations on the East Coast in three transactions totaling $65.2 million. The assets include stores in Delaware, Maryland, New Hampshire and Virginia. The buyers were not disclosed. Copper Property is a New York common law trust that was established to acquire 160 retail properties and six warehouse distribution centers from department store chain JCPenney as part of the retailer’s Chapter 11 reorganization plan. The stores are located at the following malls and shopping centers: Christiana …

September 12, 2022

Leasing News Virginia

Planet Fitness to Open New Gym at Stony Point Village in Richmond, Virginia

by Katie Sloan September 6, 2022

Richmond, Va. — Planet Fitness has leased 17,476 square feet at Stony Point Village, a 114,422-square-foot shopping center located at 3000-3096 Stony Point Road in Richmond. The fitness chain expects to open the new location, its fifth in the Richmond market, this winter. Nicki Jassy of Cushman & Wakefield | Thalhimer represented Planet Fitness in the lease negotiations. James Ashby IV, also with Thalhimer, represented the unnamed landlord. In addition to the new Planet Fitness, Stony Point Village’s tenant roster includes Trader Joe’s, Good Foods Grocery, Gelati Celesti and Einstein Bros. …

September 6, 2022

Investment sales News Virginia

Cushman & Wakefield | Thalhimer Negotiates $4.6 Million Sale of Retail Strip Center in Hampton Roads

by Katie Sloan July 25, 2022

Yorktown, Va. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has negotiated the sale of Boulevard Crossing, a 12,600-square-foot retail strip center located in the Hampton Roads city of Yorktown. An out-of-town 1031 buyer purchased the property from an entity doing business as Boulevard Crossing LLC for $4.6 million. Clark Simpson and Erik Conradi of Thalhimer represented the seller in the transaction. Built in 2016 at 8135 George Washington Highway, Boulevard Crossing was fully leased at the time of sale to tenants including Starbucks Coffee, Tropical Smoothie Café and Verizon …

July 25, 2022

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