Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Business Law
    • Commercial Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • Coronavirus 2020
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Diversity Leadership Series
    • Vote Now for Women in Leadership
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read the issue
    • Order a copy
    • Buy an award plaque
    • Nominate execs for 2021

Advertisement

Header Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Home News Industries Commercial Real Estate Newport News shopping center sells for $5.6 million

Newport News shopping center sells for $5.6 million

Published June 25, 2017 by Paula C. Squires

 

The Newport Marketplace Shopping Center in Newport News has sold for $5.6 million, or about $45 per square foot.

According to Cushman & Wakefield | Thalhimer’s Capital Markets Group, which represented the seller,  the 125,441-square-foot center located on Chatham Drive was 69% leased at the time of the sale on May 14. The buyer was NW Marketplace LLC. Major tenants include grocery anchor Farm Fresh, and Michaels.

Catharine Spangler of Thalhimer’s Richmond office handled the transaction assisted by Joe Kennedy in Thalhimer’s Virginia Beach office. The sale was facilitated through the RealINSIGHT Marketplace auction platform which launched during the first quarter. 

In another  transaction in Hampton Roads, Cushman & Wakefield | Thalhimer represented Hilltop Copeland Strip LLC in the sale of Hilltop Square Shopping Center. The 91,563-square-foot center is located on First Colonial Road in Virginia Beach.

Buyer Pratt Street Capital acquired the asset on June 15. According to Thalhimer, the property was 92% leased and includes tenants such as Mattress Firm, Advance Auto, U.S. Post Office, UFC Gym, Wendy’s and Taco Bell.

Sharon Ryals-Taylor of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the seller.

Related Stories

Virginia Business logo

Pacorini Global Services (USA) leases 150,000 square feet of industrial space in Suffolk

Wheeler Real Estate Investment Trust acquires three North Carolina properties for $15.3 million

Virginia Business logo

Transportation company opens new headquarters in Chesapeake

Trending

Finance/Insurance: STEPHAN Q. CASSADAY

Finance/Insurance: PAUL B. MANNING

Federal Contractors/Technology: JASON PROVIDAKES

Education: ANNE M. KRESS

Artemis I to launch with help from Va. contractors

Sponsored Stories

Why is my Less Than Truckload (LTL) freight pricing going up and my service level going down?  

Beyond Juneteenth – How Capital One is Commemorating and Implementing Change

How We Help Your Business Operate Better

Before the Breach: Get Serious About Cyber Resilience

Professionals are Discovering What it Means to Live Uniquely in the Alleghany Highlands of Virginia

Riverside Logistics Celebrates 25th Anniversary!

Girls for a Change Empowers Black Youth for the Future Workforce

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

Advertisement

Advertisement

Trending

Finance/Insurance: STEPHAN Q. CASSADAY

Finance/Insurance: PAUL B. MANNING

Federal Contractors/Technology: JASON PROVIDAKES

Education: ANNE M. KRESS

Artemis I to launch with help from Va. contractors

Sponsored Stories

Why is my Less Than Truckload (LTL) freight pricing going up and my service level going down?  

Beyond Juneteenth – How Capital One is Commemorating and Implementing Change

How We Help Your Business Operate Better

Before the Breach: Get Serious About Cyber Resilience

Professionals are Discovering What it Means to Live Uniquely in the Alleghany Highlands of Virginia

Riverside Logistics Celebrates 25th Anniversary!

Girls for a Change Empowers Black Youth for the Future Workforce

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk