Industries Commercial Real Estate

Former Kmart building in Salem sells for $3.66 million

  •  | 
Print this page By Robert Powell | .(JavaScript must be enabled to view this email address)

A former Kmart store in Salem has been sold for $3.66 million.

Virginia Beach-based Divaris Real Estate said that the 86,000-square-foot building at 1355 West Main St. was bought in August by The Keith Corp., a Charlotte, North Carolina-based commercial real estate firm.

The seller was Sears Holdings, the Hoffman Estates, Illinois-based parent company of the Sears and Kmart retail chains.

The store was one of 78 Kmart stores and 26 Sears stores that Sears Holdings announced it was closing in 2017.

Sam McCoy, Brett McNamee and Ali McCrickard of Divaris represented Sears Holdings in the deal.

In other Divaris transactions during August:

  • Bapa Nova LLC bought the 13,130-square-foot former PNC Bank branch at 107 Free Court in Sterling from PNC Bank NA for $1.28 million. Joe Farina and Amit Grover of Divaris represented the seller.
  • L&TJ Enterprises purchased a 10,535-square-foot medical office building at 2020 South Independence Blvd. in Virginia Beach from Davidson Physician Associates for $1.7 million. Jason Oliver of Divaris represented the seller.
  • Halloween City leased 36,470 square feet of retail space in Parkridge Center at 11096 Bulloch Drive in Manassas. Joe Farina and Cassandra Maloney of Divaris represented the landlord.
  • PetSmart renewed its lease for 21,600 square feet at 4421 Virginia Beach Blvd. in Virginia Beach. Gerald Divaris of Divaris represented the landlord.

showhide shortcuts