Norfolk, VA, October 2022 – Colliers is pleased to announce the sale of Kings Creek Shoppes, located at 6361-6365 Indian River Road in Virginia Beach, VA. The 1.61-acre strip shopping center was purchased for $2,535,000.
The shopping center totals 13,685 sf and sits in the College Park submarket of Virginia Beach. The property is 100% occupied and located along the well-traveled thoroughfare of Indian River Road, while having close proximity to S. Military Highway. Recently, Jiffy Lube signed a 10-year lease extension, which continues their commitment to the site since 1986, and newly signed leases provide the new owner with long-term lease commitments.
Vice President, Jeff Fritz, and First Vice President, Jay O’Donnell, handled the transaction on behalf of the seller. Colliers will handle leasing and management on behalf of the new owner.