Kroger buys former Kmart location in Virginia Beach for $7 million
- August 6, 2012
S.L. Nusbaum Realty Co. reports that Kroger Limited Partnership has purchased the former Kmart located on 16.8 acres at 3901 Holland Road in Virginia Beach for $7 million. Tommy Drew with Nusbaum represented Kroger in the transaction. Kroger plans to build one of it’s new larger Marketplace stores at the site, consisting of 124,000 square feet.
In another deal for the Norfolk-based real estate firm, Sentara Enterprises Inc. renewed a 12,000-square-foot lease for a commercial building at 5792 Arrowhead Drive in Virginia Beach. Michael Myers handled the transaction.
S. L. Nusbaum manages, develops and provides brokerage services throughout Virginia, North Carolina, South Carolina, Georgia and Florida. It currently manages more than 5.3 million square feet of retail space, over 19,000 apartment units and 2 million square feet of office and industrial properties.