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Colliers Announces Sale of Hayes Plaza

Hayes Plaza

Norfolk, VA, October 2022 – Colliers is pleased to announce the sale of Hayes Plaza, located at 2348-2384 George Washington Memorial Highway in Hayes, Virginia. A retail operator purchased the 7.79 acre shopping center.

The property includes 58,986 sf of rentable space, with major tenants being Dollar General, Autozone, and USPS. It is situated in the Gloucester County submarket between Hampton Roads, Richmond, and Washington, D.C., and it benefits from its position on the major thoroughfare of George Washington Memorial Highway.  The value-add through lease up and additional development opportunities made Hayes Plaza a highly desirable asset for the new owner.

Colliers Investment Advisors Jeff Fritz, CCM, CPM, and Jay O’Donnell and Colliers Leasing Advisors Ned Brooks, Tyler Brooks, and Ben Clarke handled the transaction on behalf of the seller.


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Jeff Fritz

Vice President

Norfolk - Main

Jeff Fritz is a Vice President and a plaform leader of Colliers Retail Investment Property Group. In this capacity, he is responsible for supervising and directing retail investment sales activities. Jeff also works to advise private and institutional investors on the acquisition and disposition of retail assets throughout the Mid-Atlantic. Prior to joining Colliers, Jeff had 13 years of commercial real estate experience in development, asset management and real estate management primarily focused on retail properties. Through his prior experience, Jeff developed a thorough understanding of retail property financials, construction, development, leasing, and operations which serve his investment property practice well.

Jeff is actively involved in ICSC as well as being a member of the Hampton Roads Association of Commercial Real Estate (HRACRE) and the CCIM Institute.

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Jay ODonnell

First Vice President

Charlottesville

Jay O'Donnell is a First Vice President in the firm's Charlottesville, VA office. As a platform leader of the Colliers Retail Investment Property Group, Jay is an expert in advising private and institutional investors in the disposition and acquisition of retail assets throughout the mid-atlantic. Along with partner, Jeff Fritz, the team has sold over $400mm in assets over the last five years. Jay also performs occupier and agency services as well as user and investment sales in Charlottesville and central Virginia.

His previous position was with CBRE in their Washington, DC office where Jay was responsible for over 1 million square feet of existing inventory as well as product under development in the district, suburban Maryland and Northern Virginia. His responsibilities included tenant generation and prospecting, business development, multiple market analysis, landlord services and lease and sale negotiations before focusing on capital markets and joining the CBRE Mid-Atlantic Investment Team.  

Prior to his career in commercial real estate, Jay worked for a sports production firm in Winchester, VA. He graduated from the University of Virginia with a degree in Economics and enjoys being back in Charlottesville where he is an active member of the community.

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Ned Brooks

Senior Vice President

Norfolk - Main

Ned Brooks joined the Retail Leasing and Sales Team of Hampton Roads in 1999. He develops and implements marketing strategies for shopping centers, property owners, buyers, and tenants by providing in-depth market analysis, site selection, lease and sales negotiation services. Ned was called on by Navy Federal Credit Union, the world’s largest credit union chain, for a major branch expansion in Hampton Roads and beyond. To date, he has completed over 30 branch locations. More recently, he was selected by Aldi US to assist with their grocery store expansion in the region. There are currently 15 completed transactions and more pending. In his over 30-year involvement in commercial real estate, he has exclusively represented over 50 centers in the Hampton Roads marketplace and served dozens of retailers in both Virginia and North Carolina. His assignments range from box disposition and general sales of land and buildings, to tenant representation and shopping center leasing.

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Tyler Brooks

Senior Vice President

Norfolk - Main

Tyler Brooks joined the team in December 2011 as a Retail Leasing and Sales Associate. Tyler’s prior career included marketing-oriented assignments in San Diego, Las Vegas, and Florence, Italy. As part of the Retail Leasing and Sales team, he provides services to developers, landlords, tenants and property owners by using different marketing strategies to service his clients. As a retail specialist, Tyler will serve his clients with detailed knowledge of the Hampton Roads area. 

In 2015, Tyler and two other associates won the leasing business of Greenbrier Marketcenter, thepremier shopping center in Chesapeake, VA. In 2016, Tyler and another associate leased a 350,000SF center in Newport News from 25% occupied to 95% in less than a year. They also back filled a50,000 SF Kroger (which was vacant for eight years). Tyler and team, in 2019 leased over 18 spaces in a Virginia Beach shopping center (Lynnhaven North) in three months that had been vacant for years. 

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Ben Clarke

Associate

Norfolk - Main

Ben Clarke joined the Retail Sales and Leasing Team as an associate in August 2020. Prior to joining the team at Colliers, Ben worked in the Financial Services Industry. First as a regional sales consultant for Riverfront investment group in Richmond, Virginia and more recently with Compton Wealth Advisory Group LLC, a registered Investment Adviser in Virginia Beach.

Ben holds a Bachelor of Arts degree from Hampden Sydney College and a Master’s in Business Administration from the College of William and Mary.  He has strong familiarity with the markets of Virginia Beach, Williamsburg and to a lesser degree Richmond, Virginia.

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