NEWPORT NEWS, VIRGINIA: Cushman & Wakefield | Thalhimer’s Capital Markets Group has represented the seller in the disposition of Newport Marketplace Shopping Center. The 125,441 square foot, 69% leased, value-add retail center is located at 315-353 Chatham Drive in Newport News, VA. Major tenants include grocery anchor, Farm Fresh, and Michaels. NW Marketplace, LLC acquired the asset on May 14, 2017 for $5,620,000 ($45/SF).
Sale negotiations were handled by Catharine Spangler of Cushman & Wakefield | Thalhimer’s Richmond, Virginia office and assisted by Joe Kennedy in Thalhimer’s Virginia Beach office. The sale was facilitated through the RealINSIGHT Marketplace auction platform which launched in Q1 2017.