Virginia Beach, Va. — Lowe’s Home Center has sold a 13.5-acre property to a private developer based in Virginia Beach for $9 million. Divaris Real Estate represented the seller, Lowe’s, in the transaction. Located one mile north of The Town Center of Virginia Beach, was once a neighborhood grocery-anchored shopping center. Lowe’s Home Center purchased the property in 2007, clearing and preparing it for future development. The new buyer plans to build another shopping center or mixed-use development on the site.
Divaris Real Estate is a member of Realty Resources, a national group of independent retail property brokers and managers, covering 91 major markets throughout the U.S.