PORTSMOUTH, VA-Victory Crossing Shopping Center, the nearly 73,000-sf shopping center within the 500-acre Victory Crossing mixed-use development, has hit the market with a list price of $155 per sf, or $11.3 million. And Blackwood Development has tapped Marcus & Millichap Real Estate Investment Brokerage Co. to find a buyer for the grocery-anchored facility. M&M's Michael J. Early will lead the marketing effort.

Located on the 51-acre parcel that was once home to Tower Mall, Victory Crossing was developed two years ago at 4040 Victory Blvd. Before its construction, a major retail center had not been developed in Portsmouth for two decades. The shopping center boasts three anchors--Lowe's Home Improvement Warehouse, Farm Fresh Grocery, and AJ Wright Department Store--and a bevy of additional national retail outlets and destinations such as Exxon, H&R Block, and Ruby Tuesday. According to records of the City of Portsmouth, the property has a current assessed value of just over $8 million.