{"id":1004090958,"date":"2014-02-06T15:44:59","date_gmt":"2014-02-06T23:44:59","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=237047"},"modified":"2020-04-05T23:43:48","modified_gmt":"2020-04-06T07:43:48","slug":"coastal-equities-buys-newport-news-retail-center-from-harbor-group-for-12-9m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/coastal-equities-buys-newport-news-retail-center-from-harbor-group-for-12-9m\/","title":{"rendered":"Coastal Equities Buys Newport News Retail Center from Harbor Group for $12.9M"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/02\/newcross.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-237052\" title=\"newcross\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/02\/newcross.jpg\" alt=\"\" width=\"300\" height=\"148\" \/><\/a>In a $12.9 million deal, Coastal Equities Real Estates has acquired Newport Crossing Shopping Center in Newport News from Harbor Group International L.L.C.<\/p>\n<p>Located on a\u00a022-acre parcel on Oriana Rd. in the city&#8217;s Denbigh area, Newport Crossing is a\u00a0194,000-square-foot grocery-anchored community center with 1,300 parking spaces. Norfolk-based Harbor Group recently renovated the property. Coastal Equities, also of Norfolk, was represented by Gil Neuman, a managing director with\u00a0Bethesda, Md.-based Greysteel Co.<\/p>\n<p>\u201cThe sellers recently added a long term leased state-of-the-art Riverside Health Systems facility and regional headquarters,\u201d Neuman noted in a statement. \u201cThe purchasers acquired a well-entrenched center with high grocery sales, the post-recession \u2018new normal\u2019 of a solid medical co-anchor and the opportunity to add value through further leasing.\u201d<\/p>\n<p>Newport Crossing&#8217;s tenant roster also includes Food Lion, Dollar Tree, Citi Trends, USA Discounters, First Virginia Financial Services.<\/p>\n<p style=\"text-align: justify;\">\u201cHarbor Group is pleased to have added value and through Greysteel\u2019s institutional sales process secured a quality purchaser,\u201d said Jordan E. Slone, Chairman of Harbor Group International L.L.C. \u201cWe congratulate Coastal Equities on their acquisition and wish them further success.\u201d<\/p>\n<p style=\"text-align: justify;\">\u00a0<em>Photo credit:<\/em> <a href=\"https:\/\/www.harborgroupint.com\/ourportfolio\/portfoliodetails.aspx?propertyCode=newportcrossing\" target=\"_blank\" rel=\"nofollow\"><em>Harbor Group International LLC<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A recently renovated shopping center in Hampton Roads has changed hands at the end of January. The Bethesda, Md.-based Greysteel Company has arranged the sale of the Newport Crossing Shopping Center to Coastal Equities Real Estate, a real estate company specializing in investment, development, syndication opportunities and management of retail shopping centers.<\/p>\n","protected":false},"author":925,"featured_media":1004506105,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36153],"tags":[3457],"class_list":["post-1004090958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-richmond-hampton-roads","tag-hampton-roads"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Coastal Equities Buys Newport News Retail Center from Harbor Group for $12.9M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/coastal-equities-buys-newport-news-retail-center-from-harbor-group-for-12-9m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coastal Equities Buys Newport News Retail Center from Harbor Group for $12.9M\" \/>\n<meta property=\"og:description\" content=\"A recently renovated shopping center in Hampton Roads has changed hands at the end of January. The Bethesda, Md.-based Greysteel Company has arranged the sale of the Newport Crossing Shopping Center to Coastal Equities Real Estate, a real estate company specializing in investment, development, syndication opportunities and management of retail shopping centers.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/coastal-equities-buys-newport-news-retail-center-from-harbor-group-for-12-9m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-02-06T23:44:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-06T07:43:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/newcross.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/coastal-equities-buys-newport-news-retail-center-from-harbor-group-for-12-9m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/coastal-equities-buys-newport-news-retail-center-from-harbor-group-for-12-9m\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"Coastal Equities Buys Newport News Retail Center from Harbor Group for $12.9M\",\"datePublished\":\"2014-02-06T23:44:59+00:00\",\"dateModified\":\"2020-04-06T07:43:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/coastal-equities-buys-newport-news-retail-center-from-harbor-group-for-12-9m\\\/\"},\"wordCount\":209,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/coastal-equities-buys-newport-news-retail-center-from-harbor-group-for-12-9m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/newcross.jpg\",\"keywords\":[\"Hampton Roads (No longer used)\"],\"articleSection\":[\"Richmond\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/coastal-equities-buys-newport-news-retail-center-from-harbor-group-for-12-9m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/coastal-equities-buys-newport-news-retail-center-from-harbor-group-for-12-9m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/coastal-equities-buys-newport-news-retail-center-from-harbor-group-for-12-9m\\\/\",\"name\":\"Coastal Equities Buys Newport News Retail Center from Harbor Group for $12.9M - 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