News Releases

TGM Realty Investors to Redevelop Newport Square Plaza as Mixed-Use Office/Retail Development

Cushman & Wakefield | Thalhimer is pleased to announce the sale of the former Value City Department Store in Newport Square Plaza at 836 J. Clyde Morris Boulevard Newport News, Virginia to TGM Realty Investors, LC. Dawn F. Griggs, SIOR of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the purchaser.

TGM Realty Investors, LC acquired the 90,582 square foot retail building and is leasing the underlying land from Newport Square Partners, LP.  It is redeveloping 63,000 square feet of the building for a yet-to-be disclosed anchor tenant.  The remaining 28,000 +/- square feet can be adapted for institutional, retail, office and flex users, and is available now for prospective tenant build-out for occupancy May 2012. 

TGM Realty Investors, Inc. the development and investment subsidiary of Cushman Wakefield | Thalhimer, will be managing the adaptive reuse of the building.  Mark Slusher, TGM’s Vice President, said, “We are very excited about launching this mixed use development within the Newport Square Plaza”.  He also attested to how supportive the City of Newport News is in creating this development opportunity.  MGT Construction, Inc. is the general contractor for project.