Branch Properties Sells Walmart-Anchored Shopping Center in Hampton Roads Region

HAMPTON, VA. — Branch Properties has sold Mercury Plaza, a 98,066-square-foot shopping center in Hampton. Walmart Neighborhood Market and Marshalls anchor the center, which is situated at the intersection of West Mercury Boulevard and Power Plant Parkway, 21 miles north of downtown Norfolk in Virginia’s Hampton Roads region. Branch acquired the property in 2018 for $25 million and invested $2.6 million to build a new inline building next to Marshalls that is occupied by Rack Rooms Shoes and other shop tenants. The Atlanta-based seller also sold four outparcels in 2019 for $9.7 million. Fain Hicks, Margaret Jones, John Owendoff and Lane Breedlove of Cushman & Wakefield represented the seller in the transaction. The buyer and sales price were not disclosed.