VIRGINIA BEACH’S LANDSTOWN COMMONS ACQUIRED FOR $102 MILLION BY AN AFFILIATE OF YALE REALTY SERVICES CORP.
First-in-Class Retail Plaza, Located in Prime Area Appeals with Demographic Diversity, High Employment Rate, Military and Vacation Population
WHITE PLAINS, N.Y., Jan. 20, 2026 /PRNewswire/ — An affiliate of Yale Realty Services Corp., a leading privately held real estate investment firm specializing in open air shopping centers, today announced its acquisition of the Landstown Commons Shopping Center for $102 million. Anchored by major national tenants, the 408,851-square-foot retail destination is located at 3332 Princess Anne Road in Virginia Beach’s primary retail corridor, at the intersection of Princess Anne Road and Dam Neck Road.
“The Landstown Commons Shopping Center is a first-in-class property in the Hamptons Road Virginia Beach submarket, and the surrounding area has both a high employment rate and great demographic diversity, making this a very appealing addition to our portfolio,” said Yale Paprin, President, Yale Realty Services Corp.
The shopping center is anchored by major national tenants including Best Buy, Homesense, Burlington, PetSmart, Ross Dress For Less, Old Navy, Ulta, Five Below, OfficeMax, and Kohl’s. The property also features a multitude of restaurants and small shops that cater to the local population and office market.
“We continue to believe in the value of the shopping center,” continued Paprin, “and we’re thrilled to include Landstown Commons in our portfolio. This shopping center, with its mix of shopping, dining, entertainment and fine retail makes it a perfect investment for us.”
The deal was brokered by Rob Carter of Berkeley Capital Advisors and financing was provided by the Bank of Montreal. The seller is an undisclosed REIT. The affiliate of Yale Realty Services Corp. was represented by Moritt Hock & Hamroff.
About Yale Realty Services
Yale Realty Services Corp. is based in Westchester County, NY and was established in 1990 by Yale Paprin. The corporation has bought and or sold 40 shopping centers and retains a portfolio mainly in the southeast United States.
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SOURCE Yale Realty Services
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