Elkton shopping center sells for $5M

Anchor tenants include Food Lion and Walgreens

Published July 24, 2020 by Sydney Lake

A shopping center in Elkton has sold for $5 million, Colliers International’s Virginia Retail Investment Team announced Thursday.

The 90,943-square-foot Elkton Plaza was sold by an affiliate of Kodiak Properties LLC to Elkton Plaza LLC. The shopping center — 82% leased at the time of the sale — is anchored by Food Lion and Walgreens and was built in 1985. It is located approximately 15 miles from Harrisonburg on Route 33.

“We have been pleased to own Elkton Shopping Center for 13 years and are confident that the new owners will continue to operate the center at a high level,” Scott Spector with Kodiak Properties said in a statement.

Jeff Fritz and Jay O’Donnell with Colliers International’s Norfolk and Charlottesville offices represented the seller.

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