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

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.