CHESAPEAKE, Va. (WAVY) — A Virginia Beach based development company has bought Chesapeake Square Mall for $12.9 million.
Charles Einwick, director of finance for Kotarides, said the plan is to keep the property a shopping mall for the foreseeable future. “We were attracted to Chesapeake Square Mall for a number of reasons. We think it has a great location in Western Branch. It has excellent proximity to 664.”
Einwick says the mall is in good condition, but the company is planning upgrades and renovations in the near future, based on input from tenants and shoppers. He says the four anchor tenants – JCPenney, Target, Burlington and the Cinemark Cinemas all have leases in place and will remain.