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Spartan Square retail center in Salem, VA

JV Acquires Roanoke County’s Kroger-Anchored Spartan Square for $17M

Colliers has brokered the sale of Spartan Square, located on West Main Street in Salem, VA for $16.5 million. The 180,346-square-foot shopping center in Roanoke County was acquired by a joint venture between Essential Growth Acquisition Properties and Viking Partners.

Collier’s Will Bradley, executive vice president, Mark Williford, vice president, along with Peter Vick and Harrison Hall, senior vice presidents, represented the seller, Spartan Square Limited Partnership.

Anchored by Kroger, Spartan Square is 91% leased to a mix of best-in-class tenancy, including Dollar Tree, Pet Supplies Plus, Starbucks and Truist. At sale the asset featured a weighted average tenure of more than 24 years.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
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