NORFOLK, VA (April 2020) – S.L. Nusbaum Realty Co. is pleased to announce Belterra Windsor, LLC has purchased 1.4 acres of land located at 11409 Windsor Boulevard in Windsor, Virginia from First Dominion Land, Inc. for $325,000.
S.L. Nusbaum Realty Co.’s Mike Zarpas, Vice President, Norfolk office and Nathan Shor, Regional Director, Richmond office, represented the Buyer, a subsidiary of Belterra Partners, based in Birmingham, Alabama.
Belterra is a preferred developer for several retailers in the southeast and intends to construct an O’Reilly Auto Parts at this location.
O’Reilly Auto Parts is a dominant auto parts retailer that currently operates 5,512 stores in 47 U.S. states and 21 stores in Mexico, with plans for continued growth.
“This is the second contract we finalized on this parcel for the benefit of O’Reilly Auto Parts, the first being with the tenant directly. When the tenant could not make their numbers work for the overall deal and terminated the contract, our team reached out to Belterra Partners, as the new Buyer. We then reached out to the Seller through its owner/agent, Durwood Scott, the Town of Windsor, Isle of Wight County and VDOT in order to structure a deal that worked for all parties. With the power of great relationship management and pure persistence, a deal was struck that worked for all involved.” said Mike Zarpas.
With over 115 years of expertise in the real estate industry, S.L. Nusbaum Realty Co. manages, develops and provides sales and leasing services for shopping centers, apartment communities, office, industrial and investment properties throughout the Mid-Atlantic and Southeast.