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Shoppes at Gloucester sold for $7.45M

Cushman & Wakefield / Thalhimer’s Capital Markets Group represented the seller, BH Properties, in the marketing and sale of The Shoppes at Gloucester, a 93 percent leased, 92,273-square-foot neighborhood retail center located along George Washington Memorial Highway (Route 17) at 6499-6513 Market Drive in Gloucester.

The Shoppes at Gloucester is leased to four national tenants—Ollie’s Bargain Outlet (NASDAQ: OLLI), Tractor Supply (NASDAQ: TSCO), Aaron’s (NYSE: AAN), and Planet Fitness (NYSE: PLNT).

A 1031 buyer based in Roanoke purchased the asset for $7,450,000 as an investment. Clark Simpson and Erik Conradi of Cushman & Wakefield / Thalhimer’s Capital Markets Group in Hampton Roads represented the seller in the transaction. Drew Haynie, also with Thalhimer, represented the seller and assisted with leasing expertise and local market knowledge.

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