Virginia Beach developer buys $1.08M building at Peninsula Town Center

Prayosha Hampton Retail LLC bought the roughly 6,000-square-foot space at Peninsula Town Center in Hampton earlier this month. And the developer plans to complete construction by mid-August.

“Construction actually started last week,” said Rob Wright, senior vice president of Cushman & Wakefield|Thalhimer and broker for Prayosha Hampton Retail LLC.

The developer, based in Virginia Beach, plans on using the space at 2033 Coliseum Drive for retail. The developer already has two tenants picked out, Wright said, adding the sale price was $1.08 million.

Wright said two national restaurant groups will be moving in but declined to name the two tenants.

The Virginia Beach developer may have multiple LLCs and according to court documents, one of its sister companies was involved in opening a Fuddruckers in Norfolk.

It’s unclear what else the company is involved with in the Hampton Roads area.

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John Mangalonzo (john@localvoicemedia.com) is the managing editor of Local Voice Media’s Virginia papers – WYDaily (Williamsburg), Southside Daily (Virginia Beach) and HNNDaily (Hampton-Newport News). Before coming to Local Voice, John was the senior content editor of The Bellingham Herald, a McClatchy newspaper in Washington state. Previously, he served as city editor/content strategist for USA Today Network newsrooms in St. George and Cedar City, Utah. John started his professional journalism career shortly after graduating from Lyceum of The Philippines University in 1990. As a rookie reporter for a national newspaper in Manila that year, John was assigned to cover four of the most dangerous cities in Metro Manila. Later that year, John was transferred to cover the Philippine National Police and Armed Forces of the Philippines. He spent the latter part of 1990 to early 1992 embedded with troopers in the southern Philippines as they fought with communist rebels and Muslim extremists. His U.S. journalism career includes reporting and editing stints for newspapers and other media outlets in New York City, California, Texas, Iowa, Utah, Colorado and Washington state.