Farmville shopping center near colleges sells for $8.7 million
The Shoppes at College Park, a 106,000-square-foot shopping center in Farmville, has sold for $8.75 million to an investor.
S.L. Nusbaum Realty Co. in Norfolk said it completed the sale earlier this month. The company’s vice president and regional director, Nathan Shor, represented the seller, Farmville Partners LLC, in the transaction.
The property is located on Southj Main Street, near Longwood and Hampden-Sydney colleges. Tenants at the center include Rite Aid, Dollar General, Goodwill, Advance Auto Parts and Buffalo Wild Wings.
“The potential for future growth and development with well-known national brands at The Shoppes at College Park is extremely favorable given its close proximity to two area colleges,” Shor said is a statement.
Renovations are planned over the next year, and a national tenant is expected to close a deal for a new 15,000-square-foot space, according to X Team International, an alliance of retail real estate advisors, with whom S. L. Nusbaum is a partner.