174,540-SF retail center is situated along I-64 in Hampton
The 174,540-square-foot retail center is situated on a 16.16-acre site along I-64 across from Thomas Nelson Community College and surrounded by a quickly growing commercial district in Hampton. The center is anchored by Ace Hardware, Rite Aid, Dollar Tree and Chuck E Cheese, and it is currently 47.9% occupied.
“Hampton Towne Centre provides the new owner the unique opportunity to maintain stable cash flow from long-standing credit tenants, while also providing the opportunity for high value-add through leasing of existing vacancies,” said Jeff Fritz, CCIM, CPM, vice president of investment properties for Colliers. “The highly competitive nature of this transaction illustrates the investment appetite for well-located retail assets in the Hampton Roads region.”
Jeff Fritz, vice president, Jay O’Donnell, first vice president of brokerage services; and Ben Clarke, associate, with Colliers represented the seller in the sales transaction.