MEDIPOWER ACQUIRES STONEYBROOK SHOPPING CENTER IN NEWPORT NEWS, VA

Medipower, a premier real estate investment firm specializing in grocery-anchored and necessity-based retail properties, today announced the acquisition of Stoneybrook Shopping Center, a 74,340-square-foot grocery-anchored community shopping center located at 15435 Warwick Boulevard in Newport News, Virginia.

Stoneybrook Shopping Center is currently 97.31% leased and anchored by a high-performing Food Lion store, which recently demonstrated its strong commitment to the location by executing a long term lease extension. The property features a dynamic tenant mix, including AutoZone, Stoneybrook Physicians, Little Lighthouse Care, and Corridor Salon Suites, offering essential daily-needs services to the surrounding community.

Positioned along the heavily traveled Warwick Boulevard (U.S. Route 60) with 22,000 vehicles per day, and benefits from the newly completed Atkinson Way extension connecting Jefferson Avenue and Warwick Boulevard.

Ron Stern, CEO: “We are excited to add Stoneybrook Shopping Center to our growing portfolio of high-quality, grocery-anchored retail assets. Stoneybrook represents a compelling investment opportunity backed by an exceptional, top-performing Food Lion anchor with long-term lease commitment, strong essential daily-needs tenancy, and stable cash flows. This property marks our second acquisition in Virginia this year and aligns perfectly with our disciplined acquisition strategy focused on well-located, recession-resilient commercial real estate with embedded value-add potential.”