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Colliers Facilitates Sale of Warsaw Village for $3.75 million

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Charlottesville and Norfolk, VA – September 24, 2020 – Colliers is pleased to announce the sale of Warsaw Village, a 60,100 square foot community shopping center located at 4719 Richmond Road in Warsaw, VA. Jay O’Donnell and Jeff Fritz of the Colliers’ Retail Investment Group brokered the off-market transaction between the buyer, Broad Reach Retail Partners (www.broadreachretail.com), and seller, Medalist Properties 1, LLC.

The shopping center is 81% leased and boasts a credit tenant roster including Food Lion, Walgreens, VA ABC, and US Renal Care. It’s situated in Virginia’s “Northern Neck” on the main thoroughfare of Route 360 and is the only true shopping center in the area. The property offers significant upside potential for the new owners through lease-up and selling or developing an included outparcel site, to complement the existing “essential” tenant base.

“We were excited to put together this off-market deal which bolsters both seller’s and buyer’s ongoing portfolio strategies.” said Jay O’Donnell, Vice President at Colliers.

Colliers Virginia has offices in Charlottesville, Fredericksburg, Richmond, and Norfolk.


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Jay ODonnell

First Vice President

Charlottesville

Jay O'Donnell joined the firm's Charlottesville office  as Vice President of Brokerage Services in 2015 and was promoted to First Vice President in 2020. As a member of the Colliers Retail Investement Property Group, Jay focuses on advising private and institutional investors in the dispostion and acquisition  of retail assets throughout the mid-atlantic. 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 developement, 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.

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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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