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Virginia Beach Shopping Center Fetches $9M for Rialto Capital Partners
Colliers has arranged the sale of Lynnhaven East and North Mall Shops, located at 2701 and 2704 N Mall Drive in Virginia Beach, VA, for $8.5 million.
A Colliers team of Jeff Fritz and Jay O’Donnell, along with leasing advisors Chris Read and Jeff Parker marketed the property on behalf of seller Rialto Capital Partners.
The property encompasses 106,524 square feet and is occupied by major retailers including Dick’s Warehouse and Chipotle. The new owner has approximately 96,000 square feet of vacancy across two parcels as multiple avenues for value creation.
The property is located in an area with rapidly growing demographics, nearby retail and entertainment developments, and a location along Lynnhaven Parkway near major Hampton Roads transportation connectors that create a regional destination.
- ◦Sale/Acquisition
