EF Capital Acquires East Beach Shoppes In Norfolk For $7.5 Million With Cushman & Wakefield Representation

The retail asset located at 9545 Shore Drive in Norfolk, VA, has been sold for a total of $7,500,000. This property encompasses a total square footage of 61,692, resulting in a price per square foot of $122.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $7,500,000
• Address: 9545 Shore Drive
• Market: Norfolk, VA
• Square Footage: 61,692
• Price Per Square Foot: $122
• Buyer: EF Capital
• Seller: East Beach Square, LLC
• Broker Representatives: Clark Simpson, Erik Conradi & Ted Levin - Cushman & Wakefield | Thalhimer’s Capital Markets Group

EF Capital acquired the East Beach Shoppes with plans for a renovation and rebranding as East Beach Square, which will entail an investment of $1.32 million. Cushman & Wakefield | Thalhimer represented both parties in this transaction, facilitating the deal between the buyer and seller.