VIRGINIA BEACH, VA — Cushman & Wakefield | Thalhimer’s Capital Markets Group has represented the purchaser in the acquisition of East Beach Shoppes at 9545 Shore Dr. in Norfolk. An affiliate of Norfolk, VA-based EF Capital purchased the 61,692 s/f retail center. The buyer will commence a $1.32 million renovation of the retail center immediately. Brian Ehardt, a principal of EF Capital, said, “While this is our first retail investment, we have been heavily investing in Ocean View for the past eight years, and our plan remains the same: add value through thoughtful renovations, attract new tenants and create major value for the community. We are excited to breathe new life into this retail center and rebrand it as East Beach Square.”
East Beach Square, LLC acquired the asset on November 27, 2024, for $7.5 million. The transaction was completed by Clark Simpson and Erik Conradi of Cushman & Wakefield | Thalhimer’s Capital Markets Group, who represented the buyer. Ted Levin, also with Cushman & Wakefield | Thalhimer, represented the seller in the transaction.
Thalhimer has been hired to provide leasing services for the new ownership group.
Cushman & Wakefield | Thalhimer announced the sale of 14.75 acres at 1318 Richmond Highway in Stafford County.
Stafford Technology LC purchased the acreage from Julio Montano for $6 million as part of the 500+ acre Stafford Technology Campus Data Center.
Jamie Scully, CCIM and Wilson Greenlaw, CCIM, SIOR of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the purchaser.
In Richmond, Taghavi Immigration Law purchased the 4,182 s/f office building from The B Group, LLC, for $789,000 and will occupy most of the building for its law practice. Taghavi Immigration Law offers immigration-related legal defense to clients across the United States and those immigrating from other countries.
Brian Berkey and Karla Knight of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the purchaser.
Amy Broderick and Kate Hosko, also with Thalhimer, are the leasing representatives for a 2,091 s/f first-floor suite immediately available. The space features abundant natural light, a built-in reception area, two private offices, and a conference room.
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