Naming your shopping center “Best Buy Station” doesn’t work out so well when the anchor tenant – Best Buy – goes dark.
But the newly rebranded Laburnum Station Shopping Center has a new anchor: Ashley Furniture.
The location at 4410 Laburnum Ave. is the fourth in the area for Ashley Furniture, which is owned locally by Jack Moehling. Ashley signed a sublease with Best Buy in October. Read F. Goode, a broker with S.L. Nusbaum, represented the tenant. Brett McNamee of Divaris represented the landlord.
Goode said the furniture store benefited from the down market.
“The Best Buy deal was done at the top of the market,” he said. “Obviously, things are different now, so it was a good deal for Ashley Furniture.”
Best Buy opened its location in 2008 and closed in May, along with 49 other locations across the country.
The store is across from the entrance to White Oak Village, which sold in September to Arizona-based Cole Real Estate for $68 million.
An investment group owns Laburnum Station. The managing partner is Jeff DeHart of the Georgia real estate firm S.J. Collins.
Debbie Wake and John Wingfield also represented Best Buy in this transaction. We’re pleased to have been a part of this lease transaction.
Thanks to each of you involved in the deal to keep the area alive and help to overcome the eyesore of ‘stores going dark’-
Ashley is very excited to be part of the local community and provides the latest styles and outstanding prices. Be sure to visit the new location when it opens.
As a Varina resident, I’m happy to hear of a quality furniture store coming to the area. I will definitely be a customer!
I wish it could have been a movie theatre or a health spa!