{"id":1004161370,"date":"2016-12-09T03:12:55","date_gmt":"2016-12-09T11:12:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004161370"},"modified":"2022-12-09T00:53:18","modified_gmt":"2022-12-09T08:53:18","slug":"armada-hoffler-goes-shopping-in-nc-and-virginia","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/armada-hoffler-goes-shopping-in-nc-and-virginia\/","title":{"rendered":"Armada Hoffler Goes Shopping in NC and Virginia"},"content":{"rendered":"<p><em>by Mihaela Coste<\/em><\/p>\n<div id=\"attachment_1004161381\" style=\"width: 419px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Harris-Teeter2.png\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004161381\" data-attachment-id=\"1004161381\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/armada-hoffler-goes-shopping-in-nc-and-virginia\/harris-teeter2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Harris-Teeter2.png\" data-orig-size=\"659,458\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Renaissance Square\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Renaissance Square&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Harris-Teeter2.png?w=659\" class=\" wp-image-1004161381\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Harris-Teeter2.png\" alt=\"Renaissance Square\" width=\"409\" height=\"284\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Harris-Teeter2.png 659w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Harris-Teeter2.png?resize=300,208 300w\" sizes=\"auto, (max-width: 409px) 100vw, 409px\" \/><\/a><p id=\"caption-attachment-1004161381\" class=\"wp-caption-text\">Renaissance Square<\/p><\/div>\n<p><strong>Davidson, N.C., and Virginia Beach, Va.<\/strong><strong>\u2014<\/strong>Armada Hoffler Properties Inc. recently acquired two retail properties in the states of North Carolina and Virginia: Renaissance Square for the\u00a0price tag of $17.1 million, and Columbus Village II for two million shares of common stock.<\/p>\n<p>Built in 2007, Renaissance Square is a 80,468-square-foot, grocery-anchored retail center\u00a0located in Davidson, N.C., where the estimated average household income exceeds $130,000. The property is currently 92 percent occupied and anchored by a 50,000-square-foot Harris Teeter store.<\/p>\n<p>Columbus Village II is a retail and entertainment center in Virginia Beach, Va. The asset has over 92,000 square feet of space and was fully leased at the time of the sale. Its tenants\u00a0include Bed Bath &amp; Beyond, Regal Cinemas and Schlotzsky\u2019s Deli. Along with the 65,000-square-foot Columbus Village I acquired by Armada Hoffler in 2015, the properties occupy a 12-acre site near the Town Center of Virginia Beach.<\/p>\n<p>\u201cRenaissance Square is a strategic acquisition that allows us to expand further into one of our target markets, while Columbus Village gives us the opportunity to build on the success of our flagship Town Center asset through potential future redevelopment,\u201d said Louis Haddad, CEO\u00a0of Armada Hoffler Properties, in a prepared statement. \u201cWhile we enjoy strong cash flow from Columbus Village, we continue to evaluate potential redevelopment opportunities at this prime location next door to Town Center,\u201d he added.<\/p>\n<p><em>Photo via\u00a0Armada Hoffler\u00a0Properties&#8217; website<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The acquisition of Renaissance Square and Columbus Village II adds more than 170,000 square feet of retail to the company\u2019s portfolio.<\/p>\n","protected":false},"author":1192,"featured_media":1004161381,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1582,21743,21783,11,21742,21749,36153],"tags":[33079,33082,33080,33081],"class_list":["post-1004161370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charlotte","category-deals","category-investment","category-midatlantic","category-latest","category-retail","category-richmond-hampton-roads","tag-armada-hoffler-properties","tag-louis-haddad","tag-renaissance-square","tag-virginia-beach-town-center"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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