A press release from Colliers' Retail Investment Group
On August 24, 2021, Colliers’ Retail Investment Group was pleased to announce the sale of Buckner Plaza at 3208 Holland Road in Virginia Beach from Club Forest Buckner, LLC to VB-GC-RA 18 LLC for $6.426 million.
Buckner Plaza is a 63,500-square-foot grocery anchored neighborhood center located on a 5.48-acre parcel along Holland Road, a major artery in Virginia Beach. Currently 95.4% leased, the center’s anchor tenants include Food Lion and Dollar General. Food Lion has occupied the center since its development in 1986. The center was renovated in 2015.
“The committed and high-performing grocery and discount anchors, sought after essential and e-commerce resistant tenant mix, as well as the strategic location within the densely populated trade-area made Buckner Plaza an excellent investment opportunity,” said Jeffrey Fritz, vice president of investment sales for Colliers.
Fritz and Jay O’Donnell, first vice president with Colliers’ Retail Investment Group represented the seller, and Michael Ettel, senior associate with Colliers represented the buyer.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn