Virginia

Hamilton Beach to Close All 160 Kitchen Collection Stores by End of Year

by Alex Tostado October 23, 2019

Glen Allen, Va. — Hamilton Beach Brands Holding Co. has announced that it will close all stores of its retail subsidiary, The Kitchen Collection, by the end of the year. Kitchen Collection employs approximately 800 people at 160 stores across 37 states. The company previously closed about 35 underperforming stores in an effort to maintain long-term profitability, but higher operating losses in the first half of 2019 have prompted Hamilton Beach Brands to shutter the chain entirely. “Despite our best efforts to return Kitchen Collection to profitability through footprint consolidation, …

October 23, 2019

Florida Grocery-anchored Investment sales News Retailers Virginia

Branch Properties Buys Two Grocery-Anchored Shopping Centers in Florida, Virginia for $47 Million

by Alex Tostado October 1, 2019

Punta Gorda, Fla. and Williamsburg, Va. — Branch Properties LLC has acquired two grocery-anchored shopping centers in the Southeast for $47 million. The two properties are Burnt Store Marketplace in Punta Gorda and Lightfoot Marketplace in Williamsburg. Branch Properties acquired the 95,625-square-foot Burnt Store Marketplace for $17 million. A 46,500-square-foot Publix anchors the center, which includes four undeveloped outparcels. The center was 88 percent leased at the time of sale to tenants including Anytime Fitness, Pet Supermarket and The Home Depot, which was not a part of the sale. Built …

October 1, 2019

Development Grocery-anchored News Retailers Virginia

Barnett Properties Breaks Ground on Publix-Anchored Shopping Center in Northern Virginia

by Alex Tostado September 4, 2019

Stafford, Va. — Barnett Properties has broken ground on Embrey Mill Town Center, a Publix-anchored shopping center in Stafford. The property will also feature 26,500 square feet of small shop space. Carter Bank provided construction financing. Freeman Morgan Architects designed the shopping center, and VHB is the engineer. Steve Sartorio of Barnett Properties will handle leasing efforts. Barnett Properties expects to open Embrey Mill Town Center in early 2021. This Publix will join locations in Williamsburg and Fredericksburg as the only Publix stores in Virginia outside of the Richmond metro …

September 4, 2019

Investment sales News Retailers Virginia

American Commercial Realty Purchases 198,741-Square-Foot Shopping Center in Hampton Roads Region

by Alex Tostado August 27, 2019

Chesapeake, Va. — American Commercial Realty Corp. (ACR) has purchased Crossroads at Chesapeake Square, a 198,741-square-foot shopping center in Chesapeake. Ross Dress for Less, Aldi, Best Buy and Old Navy anchor the center. The Hampton Roads property was built in 1991 with Walmart as its anchor. Walmart relocated in 2005, making room for a new tenant mix. This is ACR’s first purchase in Virginia. Virginia Beach-based Divaris Real Estate will manage the leasing for the center.

August 27, 2019

Investment sales News Retailers Virginia

KLNB Negotiates $9.7 Million Partial Sale of Shenandoah Square in Northern Virginia

by Alex Tostado July 17, 2019

Leesburg, Va. — KLNB has negotiated the $9.7 million sale of a portion of Shenandoah Square Shopping Center in Leesburg. The two parcels included in the sale are located at 932 and 952 Edward Ferry Road NE and total 29,480 square feet. Tenants include Sherwin Williams, Cosmo Prof, Jenny Craig, Domino’s and Regional Finance. Shenandoah Square also includes a Walmart, Exxon gas station, Taco Bell, IHOP and 83,240 square feet of office space. The shopping center is situated 37 miles northwest of Washington, D.C. Kevin Goeller, Ryan Goeller, Veronica Kamara, …

July 17, 2019

Development News Retailers Virginia

American Real Estate Partners Unveils $35 Million Redevelopment Plan for Rosslyn Metro Center in Arlington

by Alex Tostado June 13, 2019

Arlington, Va. — American Real Estate Partners (AREP) has unveiled its plans to redevelop and rebrand the Rosslyn Metro Center in Arlington’s Rosslyn neighborhood. AREP began the $35 million project earlier this month. Rosslyn City Center is a 62,000-square-foot former mall located directly above the Rosslyn Metro Station. Completion is scheduled for third-quarter 2020. Rosslyn City Center is located at 1700 N. Moore St., three miles east of downtown Arlington and less than five miles from Amazon’s HQ2 campus. The redevelopment will include transforming the existing structure on the site, …

June 13, 2019

Development Grocery-anchored News Virginia

Lidl to Open 25 East Coast Grocery Stores by Spring 2020

by Alex Tostado May 21, 2019

Arlington, Va. — Lidl US plans to open 25 grocery stores on the East Coast by spring 2020. The 25 stores will be located in Virginia, South Carolina, North Carolina, Maryland, New Jersey, Pennsylvania and New York, including the first four in Long Island. Openings for the individual stores were not released. In conjunction with the openings, Lidl US also plans to close two stores in Rockingham and Kinston, North Carolina, this summer. Lidl operates 10,500 grocery stores in 29 countries. Lidl established its U.S. headquarters in Arlington in June 2015.

May 21, 2019

Investment sales News Retailers Virginia

Bogese Sells Shopping Center in Richmond, Virginia for $5.7 Million

by Alex Tostado May 13, 2019

Richmond, Va. — Bogese Cos. has sold The Shoppes at Belvedere, a 22,577-square-foot shopping center in Richmond, for $5.7 million. The shopping center was 90 percent leased to nine tenants at the time of the sale, including Firebirds Wood Fire Grill, Stavna Dance Academy and Wilson Lee Interiors. Klein Enterprises acquired the property, which was built in 2008. Catharine Spangler, Calvin Griffith, Pete Waldbauer and Nicki Jassy of Cushman & Wakefield | Thalhimer represented the seller in the transaction.

May 13, 2019

Investment sales News Retailers Virginia

Armada Hoffler to Acquire Two Retail Centers in Virginia for $105 Million

by Alex Tostado April 30, 2019

Virginia Beach, Va. — Armada Hoffler will acquire Red Mill Commons and Marketplace at Hilltop in Virginia Beach, Virginia, for a combined $105 million from local retail developer Venture Realty Group. As part of the acquisition, Armada Hoffler will exchange 4.1 million operating partnership units valued at $15.55 apiece, as well as the assumption of $36 million in debt and $5 million in cash. Red Mill Commons is a 374,000-square-foot retail center that was 98 percent leased at the time of sale to more than 90 tenants, including T.J. Maxx, …

April 30, 2019

Company news News Virginia

Executive Vice President of Divaris Real Estate Dies at Age 40

by Alex Tostado April 12, 2019

Virginia Beach, Va. — Alex Divaris, executive vice president of Divaris Real Estate Inc., died April 8 due to complications from colon cancer. He was 40 years old. Divaris assisted local, regional and national investors, users and sellers in the acquisition and disposition of retail, office and industrial properties in the Mid-Atlantic and Southeast. He earned a bachelor’s degree of business administration in finance from The College of William and Mary in Williamsburg, Virginia, is a Certified Commercial Investment Member (CCIM) and sat on the board of directors of the …

April 12, 2019

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