Best Buy to Join Target at 170,000-SF Shopping Center

COLONIAL HEIGHTS, VA-Dimmock Square shopping center, located less than 20 minutes outside of Richmond, has welcomed a new tenant to its 170,000-sf retail space. With the assistance of Divaris Real Estate Inc., Minnesota-based technology and entertainment product retail company Best Buy Stores LP has just committed to a lease on 30,000 sf to house one of its Best Buy locales. Perry Moss, a director of research out of Advantis Real Estate Services Cos.’ Richmond office tells GlobeSt.com that retail space in the Colonial Heights area leases for $10 to $16 per sf.

Sandwiched between a large Wal-Mart store and the 800,000-sf Southpark Mall, Dimmock Square boasts a location just off I-95. A 117,000-sf Target store serves as the property’s anchor and shares the limelight with a variety of other tenants including Shoe Carnival, which occupies a 12,000-sf space. Property owner Dimmock Square Co. LLC is in the process of expanding the center by 40,000 sf and expects to complete the endeavor next year.