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Atlanta & Southeast  + Southeast  + Retail  |  September 16, 2019
David Cohen
By: David Cohen

BB&T Real Estate Provides Acquisition Financing for 243K-SF Retail Center in Virginia

BB&T Real Estate Funding has provided acquisition and renovation financing for Fairfield Shopping Center, a 243,031-square-foot grocery-anchored retail center in Virginia Beach. The amount of the financing was not disclosed.

Anchored by Food Lion, TJ Maxx, and Rite Aid, the 24-acre shopping center is approximately 87% leased to a variety of service, retail and restaurant tenants, including Starbucks, Verizon, SunTrust Bank, Hardee’s, Five Guys and Moe’s Southwest Grill.

Cory Fowler of JLL represented the borrower, a partnership between Crosland Southeast and New Market Properties, in securing the seven-year, floating-rate loan through BB&T.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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