New owner of Peninsula Town Center selects Thalhimer for leasing services
The Tabani Group has selected Cushman & Wakefield | Thalhimer to provide retail leasing services at Peninsula Town Center, Hampton’s 1.1-million-square- foot, mixed-use development located at Interstate 64 and Mercury Boulevard.
Tabani bought the development in Coliseum Central earlier this month for $48.5 million. According to published reports, the deal covers18 subdivided parcels including the Chapman Apartments, a movie theater and many storefronts. Two of the project’s anchors, Target and J.C. Penney Co., own their buildings.
With more than 850,000 square feet of retail space, 115,000 square feet of office space and 158 residential units, Peninsula Town Center is Hampton’s largest economic development projects to date.
Opened in March 2010, the center’s other anchors includes Macy’s, Barnes & Noble, PetSmart and CinéBistro, and it is home to more than 100 specialty retailers.
The Cushman & Wakefield | Thalhimer team will consist of retail leasing representatives Connie Jordan Nielsen, David Tunnicliffe, and Dean Martin.
Divaris Real Estate Inc. in Virginia Beach will represent Tabani in leasing the 34,023 square feet of office space in the Claiborne Building. Existing tenants there include Bryant & Stratton University, Regus Executive Office Suites and Faneuil.
The Tabani Group, based in Dallas, is a commercial real estate company with a 10 million-square-foot commercial and residential real estate portfolio that’s valued at more than $1 billion.
The company said at the time of purchase that it plans to build an additional 100 residential units originally planned for the property and to develop vacant blocks along Kilgore Avenue and along other portions of the property.