Crossways Shopping Center

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Crossways Shopping Center
Chesapeake, Virginia

Crossways Center, situated on 12.376 acres, was originally comprised of a 90,000 square foot Builders Square completed in 1992. Builders Square left the market and subsequently in September 1996, a lease was executed with Farm Fresh, Inc. for the entire facility. The center was expanded by 43,000 square feet in 1996 and leased to Circuit City on a long term basis. The next year, 1997, the center was expanded again with a 20,000 square foot lease to Michael's Arts & Crafts. Today, the total net rentable square footage of the center is 152,686 and it is 100% occupied.

Farm Fresh was subsequently purchased by Richfood, the number one food retailer in Hampton Roads and the largest wholesale distributor in the Mid-Atlantic region. Richfood is the 5th largest food wholesaler in the United States with $3.2 billion in sales and is investing $80 Million in the Farm Fresh grocery operation.

Circuit City is the nation's second largest retailer of major appliance and consumer electronics with $8.86 billion in sales last year.

Michaels is the number one retailer of specialty arts and crafts materials in the United States with $77.9 million in sales.

PROPERTY DETAILS

Location: On the northwest corner of Crossways Boulevard and Jarman Road in Chesapeake, Virginia. I-64, the main interstate in the area, and Greenbriar Parkway, one of the main surface roads in the market, are both less than one-half (½) mile from the property.

Net Rentable Area: 152,686 square feet

Land Area: 12.376 (more or less) acres

Year Built/Renovated: 1992/1996/1997

Occupancy: 100%

Parking: 647 spaces

Property Manager:
Harbor Group Management Company
Mark Mulvaney
Commercial District Manager
999 Waterside Dr., Suite 2300
Norfolk, VA 23510
757.961.2080
757.640.2550 (fax)
mark@harborg.com
(Click on the e-mail address to send an e-mail)

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