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ACR Acquires 199K-SF Shopping Center in Virginia
American Commercial Realty Corp. has acquired Chesapeake Commons, a 198,741-square-foot shopping center in Chesapeake, VA. The sales price and seller were not disclosed.
Located just east of I-664 on Portsmouth Blvd., the center is anchored by Ross, Best Buy, Old Navy and Aldi. The center was built in 1991. ACR plans to reposition the property to expand its mix of services and stores.
“Chesapeake Commons is an ideal addition to our portfolio of quality shopping centers across the Mid-Atlantic, Midwest and Southern U.S. markets,” said Rick Baer, president of ACR.
“ACR specializes in providing superior management and dedicated focus to every one of our properties. In the case of Chesapeake Commons, we look forward to working with the local community and the existing merchants to expand the center’s mix of services and stores, improve its access and enhance its visibility and identity.”
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