This community shopping center, anchored by Food Lion, is strategically located directly off the exit of Route 288, a major freeway, in an affluent suburb of Richmond, Virginia. The property was in need of major improvements, so immediately after acquisition, Berman Kappler implemented a major renovation program. As a result, customer traffic increased which in turn increased sales for Food Lion and other tenants including Papa John’s Pizza.

VALUE ACHIEVED

• Acquired the property significantly below appraised value.
• Implemented an extensive refurbishment program, which has significantly enhanced the marketability of the center.
• Reduced operating expenses.