NORFOLK, VA – (November 2016) S. L. Nusbaum Realty Co. is pleased to announce the successful negotiation of the following transactions totaling approximately $23 million in sales and lease volume on 178,711 square feet and 29.242 acres for the Norfolk and Richmond Offices:
NEW LEASES:
- Sorrentino Mariani & Co., Inc. has leased 13,840 square feet of industrial space at 3559-63 Argonne Avenue in Norfolk, VA. Michael Myers handled the transaction.
- Skyline Healthcare has leased 7,946 square feet of office space at the Offices at Landstown Commons in Virginia Beach, VA. Stephanie Sanker, CCIM, SIOR and Seth Norman represented the landlord.
- Lee’s Buffet has leased 7,768 square feet of retail space at Chesterfield Meadows in Chesterfield, VA. Bob Butcher and Richard Jacobson represented the landlord.
- LaYaca Bistro French Restaurant has leased 7,000 square feet of retail space at Marketplace at Hilltop Shopping Center in Virginia Beach, VA. Neal Sadler and Chris Hucke represented the tenant.
- Visions Community Services, LLC has leased 3,131 square feet of office space at 389 Edwin Drive in Virginia Beach, VA. Wade Wawner represented the tenant.
- Blackjack Tactical has leased 2,600 square feet of office space at 294 N. Witchduck Road in Virginia Beach, VA. Chris Devine and Sam Rapoport represented the tenant.
- Skrimp Shack has leased 2,420 square feet of retail space at Jefferson Shoppes in Newport News, VA. Neal Sadler represented the landlord.
- Union Bank & Trust has leased 2,400 square feet of retail space at Short Pump Crossing in Richmond, VA. Bob Butcher represented the landlord.
- Lynnann Laundry has leased 2,100 square feet of retail space at College Park Square Shopping Center in Virginia Beach, VA. Tyler Jacobson represented the landlord.
- Breakout Games has leased 2,065 square feet of retail space at The Shops at Arboretum in Richmond, VA. Dane Wisnosky and Nathan Shor represented the tenant.
- Visual Harbor, LLC has leased 2,050 square feet of office space at 283 Constitution Drive in Virginia Beach, VA. J.C. Wynkoop represented the tenant.
- Portsmouth Sandwich Company, LLC has leased 1,625 square feet of retail space at 400 Laskin Road in Virginia Beach, VA. Martin Murden represented the tenant.
- Commonwealth Property Group, LLC has leased 1,575 square feet of office space at 1503 Colley Avenue in Norfolk, VA. Ashley Bussey represented the landlord.
- Mathnasium of South Virginia Beach has leased 1,575 square feet of retail space at Princess One Shopping Center in Virginia Beach, VA. Murray Rosenbach represented the landlord.
- L. Garden & Associates, Inc. has leased 1,500 square feet of industrial/flex space at 2503 58th Street in Hampton, VA. Seth Norman represented the landlord.
- Mystic Jamaica Caribbean Restaurant has leased 1,400 square feet of retail space at Jefferson Shoppes in Newport News, VA. Neal Sadler represented the landlord.
- NPC International, Inc. has leased 1,340 square feet of retail space at 808 N. Eden Way, Suite 101 in Chesapeake, VA. John Wessling, CCIM, Bill Overman, CCIM and Ashley Bussey represented the landlord.
- Exquisite Designs The Salon has leased 1,230 square feet of retail space at Warwick Village Shopping Center in Newport News, VA. Tyler Jacobson represented the landlord.
- Martin’s Soul Food has leased 855 square feet of retail space at Colley Village Shopping Center in Norfolk, VA. Neal Sadler represented the landlord.
- K Nails has leased 800 square feet of retail space at Marketplace Shoppes in Williamsburg, VA. Tyler Jacobson represented the landlord.
SALE TRANSACTIONS:
- Kroger Limited Partnership I has purchased 16.784 acres located at Dominion Boulevard and Cedar Road in Chesapeake, VA from Chesapeake Development for $8,224,160. Tommy Drew represented the buyer in this transaction.
- Arch Village Partners has purchased Arch Village Shopping Center in Richmond, VA comprised of 55,354 square feet of retail space on 6 acres from KBAS, LLC and Harding Property I, LP for $4,850,000. Nathan Shor and Reid Cardon represented the buyer and seller on the big box component and the buyer on the small shop space.
- The City of Virginia Beach has purchased 2 acres of land located at Burton Station Lake in Virginia Beach, VA from S&J Truck Terminal for $1,537,000. Chris Zarpas represented the seller.
- Belleville St. Associates has purchased Dollar General located at 1009 Bailey Memorial Highway in Halifax, VA from Sonehan Halifax, LLC and Kerry Court Halifax Associates for $1,241,555. Nathan Shor and Jim Gresock represented the buyer.
- Park LG, LLC has purchased a 10,264 square foot office building on .758 acre located at 207 Business Park Drive in Virginia Beach, VA from Solutions Properties, LLC for $1,080,000. Michael Myers represented the buyer.
- Jasmine & Hannah, LLC has purchased 2.5 acres of land at Gander Way, Lot A-2A2 in Roanoke, VA from KTJ Limited Partnership One Hundred Fifty-One for $625,000. Nathan Shor and Michael Gurley represented the seller.
LEASE RENEWALS/EXTENSIONS/EXPANSIONS:
- Infotec, LLC has renewed its lease on 11,402 square feet of office space at 100 Constitution Drive in Virginia Beach, VA. John M. Profilet, SIOR represented the landlord.
- Rack Room Shoes has extended its lease on 5,000 square feet of retail space located at Monticello Marketplace in Williamsburg, VA. Tyler Jacobson represented the landlord.
- Running, Etc. has extended its lease on 5,000 square feet of retail space located at Regency Hilltop in Virginia Beach, VA. Michael Gurley represented the landlord.
- Jax Place has expanded its lease to 4,620 square feet of retail space at Kempsville Plaza Shopping Center in Virginia Beach, VA. Murray Rosenbach represented the landlord.
- Misako Japanese Restaurant has exercised its option on 3,600 square feet of retail space at Loehmann’s Plaza in Virginia Beach, VA. Michael Gurley represented the landlord.
- China Moon has extended its lease on 1,600 square feet of retail space at University Shoppes in Norfolk, VA. Neal Sadler represented the landlord.
- Subway has extended its lease on 1,500 square feet of retail space located at Marketplace Shoppes in Williamsburg, VA. Tyler Jacobson represented the landlord.
- Papa John’s Pizza has exercised its option on 1,443 square feet of retail space at Suffolk Plaza Shopping Center in Suffolk, VA. Chris Hucke represented the landlord.
- Nationwide Insurance has extended its lease on 1,200 square feet of retail space at Great Neck Village Shopping Center in Virginia Beach, VA. Neal Sadler represented the landlord.
- Phelps, LLC has expanded its lease to 1,064 square feet of office space at Courtyard at Providence in Virginia Beach, VA. Seth Norman represented the landlord.
- Tunic Consignment has renewed its lease on 900 square feet of retail space located at Short Pump Crossing in Richmond, VA. Bob Butcher represented the landlord.
- Osaka Japanese Restaurant has exercised its option on 792 square feet of retail space at Ocean View Shopping Center in Norfolk, VA. Tyler Jacobson represented the landlord.
- Swan Cleaners has renewed its lease on 750 square feet of retail space located at Chesterfield Meadows Shopping Center in Chesterfield, VA. Andrew Thacker represented the landlord.
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.
