| Major transactions from around the state
Virginia Business
June 2004
REAL
ESTATE SALES
The Dilweg Companies, Durham, N.C., purchased Newmarket
South Shopping Center in Newport News, Va. Food Lion
and A & N Superstore anchor the 391,785-square-foot
retail center. The seller was Equity Investment Group.
Divaris Real Estate, Virginia Beach, announced the sale
of two former Service Merchandise buildings in Richmond.
The first property on Broad Street sold for $5,574,000
to Sledd Properties LLC. The second property on Huguenot
Road sold for $5,125,000 to JLP-Richmond LLC. The company
also announced the sale of Coliseum Corner shopping
center in Hampton, Va., to Ziff Properties Inc. Rugged
Wearhouse and Washington Mutual Finance anchor the 49,444-square-foot
retail center.
Focused Retail Property Fund I, LLC, purchased Dominion
Marketplace shopping center in Chesapeake. The 75,506-square-foot
retail center is anchored by Food Lion and Family Dollar
Stores and leased by Divaris Real Estate.
REAL
ESTATE LEASES
Bed Bath & Beyond leased space for its first local
store in the Roanoke market. The 22,272-square-foot
space is located in the Towne Square Shopping Center
on Towne Square Boulevard. The retail center is anchored
by Sam’s Club, Michael’s and Office Max.
Owens and Minor have expanded into an additional 27,000
square feet of space near its existing warehouse in
the Fairgrounds Distribution Center in Richmond. The
company already leases 110,000 square feet of space
at the location from Liberty Property Trust.
Philip Morris USA Inc. has renewed a long-term lease
for 80,000 square feet of warehouse space with Liberty
Property Trust of Richmond. The company will use the
space on Hill Carter Parkway in Richmond to house and
distribute tobacco products.
Ross Stores, the country’s second largest off-price
retailer, signed a lease for 30,187 square feet of retail
space at Coliseum Crossing in Hampton. Other tenants
in the shopping center include Food Lion, Dress Barn
and Marshalls. This is Ross’s first store on the
Virginia Peninsula.
RETAIL
OPENINGS
The Cheesecake Factory will open its first full-service
restaurant in Virginia outside the Washington Metro
area in the Town Center of Virginia Beach. The restaurant
offers upscale casual dining and a wide array of cheesecakes.
It joins a number of other dining establishments at
the Town Center, including P.F. Chang’s, China
Bistro and California Pizza Kitchen.
LAND
SALES
Best Buy Stores LP, the largest volume specialty retailer
of consumer electronics, purchased eight acres of land
upon which to develop its first store in Charlottesville.
The property is located on the northwest corner on the
Route 250/Route 29 intersection and was the former site
of the Mount Vernon Hotel. The company is building a
45,000-square-foot prototype store on the parcel.
Return to Virginia Business - June 2004
|
