Wheeler Buys Norfolk, VA Shopping Center for $86M

Several national retailers anchor JANAF Shopping Yard, which is situated approximately nine miles from Wheeler’s corporate headquarters.

Wheeler Real Estate Investment Trust has entered a purchase and sale agreement for JANAF Shopping Yard in Norfolk, Va. Through its wholly-owned subsidiary, WHLR-JANAF LLC, the company will acquire the retail center for an expected price of $85.6 million from four different entities.

Located at 5900 E. Virginia Beach Blvd., JANAF Shopping Yard features 887,917 rentable square feet. The asset is anchored by many national retailers, such as BJ’s Wholesale Club and Fuel Center (151,345 square feet), Big Lots (42,500 square feet), T.J. Maxx (37,383 square feet) and service providers, including the U.S. Postal Service and SunTrust Bank. The property features a 37,234-square-foot office in a different building. At the time of the transaction, JANAF Shopping Yard was 94 percent occupied…

Wheeler Buys Norfolk, VA Shopping Center for $86M

Categories : Finance

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