NORFOLK, VIRGINIA (February 5, 2018) – Harbor Group International, LLC (“HGI”) announced today that affiliates of the Company have sold Crossways Center, a 152,697 square foot shopping center located in Chesapeake, Virginia, to Ultimate Realty, LLC, for $19.9 million.
HGI acquired the property in 1998 for $12.9 million. Major tenants include Grand Furniture, Ashley HomeStore and JoAnn’s Fabrics. The center is 100% occupied.
“Over two decades of ownership the property consistently performed well,” said T. Richard Litton, Jr., President of HGI, “Crossways demonstrates HGI’s ability to get consistent performance out of an asset on a long-term basis, through multiple market cycles.”
Crossways is located in the Greenbrier area of Chesapeake, Virginia, directly across from Greenbrier mall.
Harbor Group International, LLC is a private real estate investment and management firm which controls a portfolio of worldwide assets valued at $7.3 billion. HGI is headquartered in Norfolk, Virginia with offices in New York, Baltimore and Tel Aviv. The company’s real estate holdings include 4.8 million square feet of commercial properties and approximately 30,000 apartment units. For additional information, please visit www.harborgroupint.com.
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