Best Buy Takes 31,000-SF Chunk of Wal-Mart Space

CHESAPEAKE, VA-Best Buy comes to Crossroads Shopping Center on Portsmouth Blvd. as the store commits to leasing a 31,000-sf space formerly occupied by Wal-Mart. Best Buy will take up only part of the 116,000-sf segment that Wal-Mart once called home.

By Barbra Murray | June 28, 2004 at 11:48 AM

Located on Portsmouth Blvd. across from the Chesapeake Square Mall, Crossroads Shopping Center is also home to such retailers as TJ Maxx and S&K Menswear. Divaris Real Estate Inc.'s Gerald S. Divaris and Mary McGovern represented Best Buy Stores LP in the transaction, while Wal-Mart Realty represented itself. Terms of the transaction have not been disclosed, but McGovern tells GlobeSt.com that retail space in the Chesapeake area leases for about $12 to $16 per sf, depending on the location and product.

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

1 Colliers Sees Early Signs of a Fresh Investment Cycle Emerging

2 Five Leading Cities for Renters and Five Standouts for Homeowners

3 2025 Retail Outlook: Trends and Tactics for Success

4 Ryman Buys Phoenix’s Largest Resort at 44% Premium

5 Apartment Transactions Reach $30B in Q1 With Five Deals Over $180M

Real Estate
GlobeSt. ELITE Women of Influence (WOI) 2025
July 21, 2025 - Denver

GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.
More Information
Real Estate
GlobeSt. Multifamily Fall 2025
October 15, 2025 - Los Angeles

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!
More Information
Consulting
Consulting Top Consultants 2025
June 26, 2025 - New York

Consulting Magazine identifies consultants that have the biggest impact on their clients, firms and the profession.
More Information

Law Firms' Flight to Quality Boosts Office Productivity, Retention

By Mario Marroquin | October 23, 2024

Law firms are using wellness initiatives and modern amenities to retain staff.

Law Firms' Flight to Quality Boosts Office Productivity, Retention

Cutting Through the Noise in Today's Net-Lease Market

By Marcus and Millichap (Sponsored) | October 10, 2024

While interest rate cuts are a bright spot, investors endure a see-sawing net-lease market that will stay rocky a bit longer, before improving.

Cutting Through the Noise in Today's Net-Lease Market

Office Leasing Activity Expected to Continue Upward Climb Into Next Year

By Kristen Smithberg | September 19, 2024

Office lease sizes are decreasing as occupiers adjust to hybrid work.

Office Leasing Activity Expected to Continue Upward Climb Into Next Year

CRE Property Management Assessment: Your Building Operations Scorecard link

Assessment

Sponsored by Building Engines

CRE Property Management Assessment: Your Building Operations Scorecard

How do your building operations measure up? Use this detailed scorecard to evaluate your operational approach across five key areas.

Browse More Resources ›

The Great Slowdown: Domestic Migration Into 2025 link

Report

Sponsored by Placer.ai

The Great Slowdown: Domestic Migration Into 2025

Dive into the data to explore domestic migration patterns over the past four years -- and uncover states and metro areas emerging as relocation hotspots in 2025.

Browse More Resources ›

Leveling Up: Choosing the Best Renters Insurance Partner for Your Multifamily Housing Portfolio link

Guide

Sponsored by Assurant

Leveling Up: Choosing the Best Renters Insurance Partner for Your Multifamily Housing Portfolio

Picking the right renters insurance can be a headache. This guide will help you find the perfect partner for your multifamily properties so you can boost resident participation and lower your risk.

Browse More Resources ›