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VIRGINIA BEACH, VA. — Colliers has negotiated the $8.6 million sale of Lynnhaven Square, a two-property retail center located at 2077-2085 Lynnhaven Parkway in Virginia Beach. Jeff Fritz and Jay O’Donnell of Colliers represented the undisclosed seller, a tenancy in common (TIC) entity, in the transaction.
The undisclosed buyer has tapped George Fox of Colliers to provide leasing advisory services at Lynnhaven Square, which was fully leased at the time of sale to tenants including Wingstop, Cold Stone Creamery, Virginia ABC, Coastal Vision and The UPS Store. Situated on 2.4 acres, the property is part of Salem Crossing, a larger 450,000-square-foot retail development.