An affiliate of Baltimore-based real estate developer Klein Enterprises has closed on the purchase of the Pleasant Valley Shopping Center in Winchester, Va. Located along South Pleasant Valley Road, the retail center changed hands for $15.9 million, or just under $152 per sqf. The 104,703-square-foot fully leased center is anchored by Hobby Lobby with additional national tenants including Dollar Tree, Cici’s Pizza, Jimmy John’s, Staples and Verizon Wireless. The center is Klein Enterprises’ second investment in Virginia, following the development of a retail center in Stafford in 2014.
“Pleasant Valley increases our commercial portfolio to more than 2.2 million square feet,” said Michael Klein, CEO of Klein Enterprises. “We’re looking forward to continuing to expand outside the Baltimore area and acquiring Pleasant Valley is a definite step in the right direction.”
