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Rivercrest Realty acquires Norton Commons
Norton, Va. — Rivercrest Realty Associates has acquired the 81,297-sq.-ft. Norton Commons shopping center in Norton, Va., for $6,910,000.
Divaris Real Estate represented the seller, General Electric Credit Equities, in the transaction. At the time of the sale, the center, anchored by Burke’s Outlet, was 98% occupied. -
Forest City acquires Macy’s Home Store at Ballston Common
Arlington, Va. — Forest City has acquired Macy’s Furniture Store building at the Ballston Common Mall from Macy’s. Forest City, the owner, developer and manager of the mall, plans to redevelop the property and add mixed uses including residential and office. The Home Store, which is connected to the mall on three levels, is the first step in the redevelopment.