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Acadia Realty Trust Sells Landstown Commons Retail Center In Virginia Beach For $102M

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SOLD
$102,000,000

Virginia

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Retail408,851 SF
Sold 01/22/2026
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Property Image
SOLD

Acadia Realty Trust Sells Landstown Commons Retail Center In Virginia Beach For $102M

3312 Princess Anne Road

See Similar Deals
Retail408,851 SF
Sold 01/22/2026
the dealplayerscompscontact
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Summary

VIRGINIA
Asset Type:Retail
Price Per Square Foot:$249
Total Square Footage:408,851 SF
Transaction Type:Sale

The retail asset located at 3312 Princess Anne Road in Virginia Beach, VA, has been sold for a transaction amount of $102,000,000. The property spans a total area of 408,851 square feet, resulting in a price per square foot of $249. This retail center is anchored by notable retailers including Kohl’s, Ross, Best Buy, Old Navy, and Ulta.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $102,000,000
  • Sale Date: 01/22/2026
  • Address: 3312 Princess Anne Road
  • Market: Virginia Beach, VA
  • Square Footage: 408,851
  • Price Per Square Foot: $249
  • Broker: Rob Carter - Berkeley Capital Advisors
  • Lender: Bank of Montreal (BOM)
  • Seller: Acadia Realty Trust
  • Buyer: Yale Realty Services affiliate
  • Acquisition Financing: $73.4 million

Berkeley Capital Advisors facilitated the sale and represented the buyer in this transaction. The involvement of Bank of Montreal (BOM) provided crucial financing for the acquisition, supporting the transaction and enabling the buyer to complete the purchase of the retail center.

Players

Rob Carter
Berkeley Capital Advisors
Rob Carter
6 deals$93.8M volume(704) 564-2997
BROKER
Bank of Montreal (BOM)
Bank of Montreal (BOM)
LENDER

Details

SOLD
IMAGE: 01/22/2026 ADDRESS: 3312 Princess Anne Road MARKET: Virginia Beach, VA ASSET TYPE: Retail BROKER: Rob Carter - Berkeley Capital Advisors LENDER: Bank of Montreal (BOM) SALE PRICE: $102,000,000 SF: 408,851 ~ PPSF: $249 NOTE: Berkeley Capital Advisors arranged the $102M sale of Landstown Commons, a 408,851-square-foot Virginia Beach retail center anchored by Kohl’s, Ross, Best Buy, Old Navy, and Ulta. Acadia Realty Trust sold to a Yale Realty Services affiliate, with BMO providing $73.4M in acquisition financing.

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Deal Type
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$362,384.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$483,532.04
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