Skip to main content Skip to footer

Colliers Announces the Sale of Hampton Towne Centre

174,540-SF retail center is situated along I-64 in Hampton

Colliers is pleased to announce the investment sale of Hampton Towne Centre, located at 1 Towne Centre Way in Hampton, from a global real estate investment advisor to Reserve Development. 

The 174,540-square-foot retail center is situated on a 16.16-acre site along I-64 across from Thomas Nelson Community College and surrounded by a quickly growing commercial district in Hampton. The center is anchored by Ace Hardware, Rite Aid, Dollar Tree and Chuck E Cheese, and it is currently 47.9% occupied. 

“Hampton Towne Centre provides the new owner the unique opportunity to maintain stable cash flow from long-standing credit tenants, while also  providing the opportunity for high value-add through leasing of existing vacancies,” said Jeff Fritz, CCIM, CPM, vice president of investment properties for Colliers. “The highly competitive nature of this transaction illustrates the investment appetite for well-located retail assets in the Hampton Roads region.”
Jeff Fritz, vice president, Jay O’Donnell, first vice president of brokerage services; and Ben Clarke, associate, with Colliers represented the seller in the sales transaction. 

Related Experts

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.

View expert

Jay ODonnell

First Vice President


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.

View expert

Ben Clarke


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.

View expert