The 90,943-square-foot community shopping center was built in 1985 and is anchored by a top producing Food Lion and Walgreens. The center is the only true shopping and grocery destination within an expansive trade area of more than 20 miles. It is located near Harrisonburg on Rt. 33 at the signalized intersection with Rockingham Pike.
The center is 82% leased and offers substantial upside potential to the new owners for in-line leases and rent growth.
“We have been pleased to own Elkton Shopping Center for 13 years and are confident that the new owners will continue to operate the center at a high level,” said Scott Spector with Kodiak Properties.
The Colliers Virginia Retail Investment Team of Jeff Fritz, CCIM, CPM, vice president, and Jay O’Donnell, vice president, with Colliers International’s Norfolk and Charlottesville offices represented the seller.
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