VIRGINIA SHOPPING CENTER SELLS FOR $79.6 MILLION

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NEWPORT NEWS, VA. — Chicago-based Inland Western Retail has acquired Jefferson Commons, a 306,249-square-foot shopping center in Newport News, from an affiliate of West Palm Beach, Fla.-based The Goodman Company, for $79.6 million. The center is located at the intersection of Jefferson Avenue and Bland Boulevard. Tenants include Ross Dress For Less, T.J. Maxx, Off Broadway Shoe Warehouse, Trader Joe’s, Petco and Starbucks. The property is also anchored by a Kohl’s, which was not included in the sale. Casey Rosen and Dennis Carson of CB Richard Ellis’ Miami office and Debra Ramey of The Shopping Center Group’s Norfolk, Va., office represented the seller.

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