The sale of Coleman Marketplace, a 202,578-square-foot super-regional retail center in Danville, Virginia, has been completed, according to a statement from JLL Capital Markets.
The seller, Trimont Real Estate Advisors, was represented by JLL. Tenants in Common co-owners JMV SPE, LLC, CV SPE, LLC, and CAF2 SPE, LLC were the buyers, and PECK Properties, LLC represented them in the transaction.
The Coleman’s Marketplace was built in 2008 has been 88 percent leased with stores like Old Navy, Ross Dress For Less, Bath and Body Work, Rack Room Shoes, Michaels, and Burkes Outlet acting as the mall’s anchors.
The place is located alongside US-BUS 29, which has a VPD of 26,000, near 145/165 Holt Garrison Pkwy. About two-thirds of the customer population lives within a 30-mile radius of the center. The closest comparable retail center is in Greensboro, North Carolina, which is about 50 miles away. The area’s adjacent economic engines, such as the soon-to-be-built Caesars Virginia, the Virginia International Raceway, Sovah Health, and Averett University, also boost the center.
Senior Director Tom Kolarczyk, Managing Director Jordan Lex, Director Daniel Naughton, and Analyst Steele Burkett were in charge of the JLL Retail Capital Markets unit.
For real estate investors and occupiers around the world, JLL financing Markets offers full-service financing solutions. The firm’s comprehensive local market and international investor experience provides customers with best-in-class solutions when it comes to investment and sales advisory, debt advisory, equity advisory, or recapitalization. The company has operations in close to 50 countries and more than 3,000 Capital Markets specialists worldwide.
