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KLNB Completes $11M Sale of VA Shopping Center
KLNB’s Retail Capital Markets Team has completed the sale of the Shoppes at Haymarket, a 22,400-square-foot neighborhood shopping center located at 6711-6749 Lea Berry Way in Haymarket, Virginia, for $11.375 million.
KLNB was hired to exclusively represent the seller, Fernau LeBlanc Investment Partners, in the transaction. The Shoppes at Haymarket is currently 100% leased to 13 tenants and has demonstrated exceptional tenant retention and income stability, with 66% of occupants in place for over 20 years. Shadow-anchored by a newly renovated Aldi and Planet Fitness, the center has a mix of service, medical, and restaurant tenants.
“Both the Capital Markets team and our in-house retail leasing specialists collaborated to stabilize tenancy and unlock long-term value,” said KLNB Principal Chris Burnham. “The terrific response we received highlights how well-positioned, multi-tenant retail centers in affluent suburban markets can immediately pique the interest of local, regional and national investors.”
