SALEM, VA. — A joint venture between Essential Growth Acquisition Properties and Viking Partners has acquired Spartan Square, a 180,346-square-foot shopping center in Salem, about 15 miles west of Roanoke. Will Bradley, Mark Williford, Peter Vick and Harrison Hall of Colliers represented the seller, an entity known as Spartan Square LP, in the transaction. The sales price was not disclosed.
Anchored by Kroger, Spartan Square was 91 percent leased at the time of sale to tenants including Dollar Tree, Pet Supplies Plus, Starbucks and Truist. The property features a weighted average tenure of over 24 years. Located at 1425-1499 W. Main St., Spartan Square is situated 11.9 miles from the Roanoke-Blacksburg Regional Airport and 1.6 miles from Roanoke College.