#United States #Virginia Beach #Yale Realty #Landstown Commons

Yale Realty Services Corp. Expands with Landstown Commons Acquisition

On January 20, 2026, Yale Realty Services Corp., a prominent real estate investment firm renowned for its focus on open-air shopping centers, announced the successful acquisition of the Landstown Commons Shopping Center in Virginia Beach for a remarkable $102 million. This strategic addition to their portfolio emphasizes the company's commitment to investing in first-class retail properties that cater to a diverse demographic while also benefiting from a robust local economy.

Prime Retail Location

The Landstown Commons Shopping Center spans an impressive 408,851 square feet and is situated conveniently at 3332 Princess Anne Road, directly located in Virginia Beach's main retail corridor. This location, at the intersection of Princess Anne Road and Dam Neck Road, is particularly appealing due to the area's high employment rates, demographic diversity, and proximity to both military personnel and leisure vacationers.

Yale Paprin, the President of Yale Realty Services Corp., expressed his enthusiasm regarding the acquisition, stating, "The Landstown Commons Shopping Center is a first-in-class property in the Hamptons Road Virginia Beach submarket. The surrounding area's high employment rate and demographic diversity make this a compelling addition to our portfolio."

Major National Tenants

The shopping center is anchored by a variety of nationally recognized tenants, which include well-known names such as Best Buy, Homesense, Burlington, PetSmart, and Old Navy, among others. These major retailers ensure a steady stream of foot traffic, enhancing the shopping center's appeal further. Additionally, a selection of restaurants and small shops provides amenities that cater to local customers seeking dining options and unique retail experiences. Paprin noted, "With its combination of shopping, dining, entertainment, and fine retail, Landstown Commons represents a perfect investment for us."

Strategic Financing and Consultation

The acquisition deal was facilitated by Rob Carter from Berkeley Capital Advisors, who played a critical role in brokering this substantial transaction. Financing for the purchase came from the Bank of Montreal, showcasing the strong interest and confidence in such retail investments. The seller of the property remains an undisclosed Real Estate Investment Trust (REIT), while the affiliate of Yale Realty Services was navigated through the legal representation of Moritt Hock Hamroff.

About Yale Realty Services

Established in 1990 by Yale Paprin, Yale Realty Services Corp. has its headquarters in Westchester County, NY. With a strong focus on retail properties, the firm has successfully bought and sold 40 shopping centers primarily located across the southeastern United States. This acquisition of Landstown Commons marks a significant milestone in their ongoing strategy to expand their portfolio of high-quality retail spaces.

Yale Realty Services persists in identifying and investing in prime retail locations that not only highlight their commitment to growth but also align with the interests of local communities. As the retail landscape continues to evolve, Yale Realty Services remains committed to adapting and capitalizing on emerging opportunities within the market.