Real Estate

Big V Sells Virginia Shopping Center

2PICW LLC has purchased Willow Oak Plaza, a 163,090-square-foot shopping center in Waynesboro, Va. Big V Property Group sold the asset after six years of ownership, according to public records.

Colliers brokered the transaction, with Senior Vice President Jay O’Donnell and Vice President Jeff Fritz working on behalf of the seller.

Willow Oak Plaza’s tenant roster includes a diverse mix of retailers such as Roses, Advance Auto Parts, T-Mobile and Window World. Cushman & Wakefield | Thalhimer serves as exclusive leasing agent and property manager.

Located at 901 W. Broad St., the retail center is near Waynesboro’s main retail corridor and busy downtown shopping area, close to several residential properties and schools. Willow Oak Plaza serves around 35,040 individuals within a 5-mile radius, with an average income of approximately $71,550, according to Big V. The shopping center is close to Route 250, which allows direct access to downtown Richmond.

Big V owned and operated more than 50 neighborhood and community shopping centers as of February, totaling more than 9.5 million square feet. The firm has recently entered the Indianapolis market with the purchase of a 232,284-square-foot open-air shopping center in Carmel.

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