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Danville Mall Inks 30,000-SF Lease

DANVILLE, VA-The new lease is partially filling a 60,000-sf vacancy in the strip mall by its anchor, Schewels Furniture store.

By Erika Morphy | Updated on May 02, 2008

DANVILLE, VA-Ollie’s Bargain Outlet is taking 30,000-sf in the Kings Fairground Mall here. It is a win for owner Lightstone Group, as large-sized tenants, credit-worthy tenants can be scarce in second and third tier markets. The 118,535-sf strip mall recently lost its 60,000-sf anchor tenant–Schewels Furniture–when the company moved to a new location.

Ollie’s will be moving into its designated space in the L-shaped mall once renovations are complete, Jeffrey Dash, VP of retail leasing and management for the Lightstone Group, tells GlobeSt.com. These renovations, which are running about $200,000, will be complete by Q3 2008. Asking rates for the remaining space, slightly more than 30,000 sf, run about $6 per sf, according to Dash.

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