Colliers Represents Seller In $8.6M Sale Of Lynnhaven Square Retail Center In Virginia Beach

The property involved in this transaction is a fully leased retail center located at 2077-2085 Lynnhaven Parkway, Virginia Beach, VA. The asset has a sale price of $8,600,000 and encompasses a total of 450,000 square feet, resulting in a price per square foot of $19.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $8,600,000
• Address: 2077-2085 Lynnhaven Parkway
• Market: Virginia Beach, VA
• Total Square Feet: 450,000
• Price Per Square Foot: $19
• Brokers: Jeff Fritz & Jay O’Donnell - Colliers

Colliers represented an undisclosed TIC seller in the transaction. Following the sale, the buyer has engaged Colliers’ George Fox for leasing advisory services to assist with the property, which is part of the 2.4-acre land within the Salem Crossing development.