New Owners Investing Millions in Improvements
VIRGINIA BEACH, Va. – August 14, 2019 – Colliers International’s Norfolk office is working with owners Mishorim Gold VAB LP to reposition Lynnhaven North Shopping Center in Virginia Beach after the company purchased it in January. In less than six months, the leasing team has brought 17 new tenants to the shopping center including two major entertainment anchors that will offer plenty of fun from trampolines to skating.
Mishorim Gold VAB LP, based in Orlando, is making a multi-million investment to improve the façade and parking areas. The center was built in 1985 and comprises 216,993 square feet of prime retail space.
“This is the fourth shopping center that we’ve been assigned by Mishorim,” said Tyler Brooks, senior associate with Colliers International. “They are seriously investing in the Hampton Roads market, and we’ve proven our ability to attract new tenants and add value to these commercial properties.”
New tenants include:
Surge 41,262 SF
SK8 House 27,000 SF
Tao Foot Spa 2,000 SF
Jazzercise Lynnhaven Fitness Center 2,000 SF
Cheese and Wine Tavern 4,540 SF
Kitique 4,700 SF
Barbell Syndicate 3,500 SF
7 City Café & Grill 1,000 SF
Stallia Inc. 3,000 SF
7 Cities Vape 2,500 SF
757 Dance 3,000 SF
Shirtquarters 1,200 SF
Palace of Beauty 1,200 SF
Living Water Music & Arts 1,000 SF
Luxury Nail & Spa 2,897 SF
The Collective Tattoo and Body Piercing 5,000 SF
Dawn Pilates 1,000 SF
Drew Brees, quarterback for New Orleans Saints, is co-owner of Surge Adventure Park that will open its 14th location at Lynnhaven North. The 41,262-square-foot space will be completely transformed into an indoor trampoline and adventure park with zipline courses, climbing walls, obstacle courses and foam pits. In addition to family friendly entertainment, Surge will be available for special events, birthday parties and will offer a lounge for parents.
Surge Adventure Park is new to southside Hampton Roads. Other locations are in Alabama, Louisiana, North Carolina, South Carolina, Florida, Oklahoma and Newport News, Virginia.
SK8 House VB is building two roller rinks in the 27,000-square-foot space. The larger 10,000-square-foot rink is being designed for free skating, and a smaller rink will be used for training and children. Other entertainment offerings will include a modern arcade, e-game center, jungle gym and special event/party rooms.
Food concepts will include a traditional snack bar, Jelly Ball and Chicken Spot. The family friendly entertainment center will also include Regalo Taphouse, a local brewery that will also serve wine.
“We’ve already had tremendous interest from roller derby and roller hockey enthusiasts,” said Amante Canonizado, finance director for SK8 House. “We want to bring a fresh modern twist to roller skating and will include seating for viewing and socializing.”
Lynnhaven North Shopping Center is surrounded by dense residential subdivisions, professional office parks, industrial parks, Naval Air Station Oceana and easy access to I-264.
The Lynnhaven retail submarket contains approximately 1,800,000 square feet of retail space and is anchored by General Growth’s 1.3 million-square-foot Lynnhaven Mall, the region’s #1 shopping destination. Lynnhaven North Shopping Center and Lynnhaven Mall share access via North Mall Drive and the mall’s ring road with more than 38,000 vehicles daily.
About Colliers International Group Inc.
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. Learn more about how we accelerate success at corporate.colliers.com, follow us on Twitter: @Colliers and LinkedIn.
For more information, please contact:
Cindy Mackey, 757-754-4553, email@example.com
SK8 House contact:
Jake Caburion 757-348-4296, Jacobc2266@gmail.com