Grocery-anchored shopping center in Newport News sells for $7.8 million
Jefferson Plaza, a grocery anchored shopping center in Newport News, has sold for $7.88 million to Agree Realty Corp. The seller was DDR.
According to CBRE|Charlottesville, which helped broker the deal, Fresh Market is the anchor tenant at the 47,341-square-foot center at 12121 Jefferson Ave.
The co-anchor is a 17,883-square-foot Cost Plus World Market. Other tenants include Navy Federal Credit Union, McDonalds and Starbucks.
The property also is shadow-anchored by a 135,000-square -foot Costco.
Jay O’Donnell of CBRE/Charlottesville along with Bill Kent and Ryan Sciullo of the Washington, D.C., CBRE office represented the seller in the transaction.