Harrisonburg Crossing in Foreclosure

Brent Finnegan -- April 16th, 2010

On April 12, a notice ran in the Daily News Record that parts of the Harrisonburg Crossing shopping center are in foreclosure. Chris Rooker recently posted about the notice on Harrisonblog:

It appears from city tax records that the parcels housing Wal-Mart and Home Depot are not part of the foreclosure. The tax records indicate that the rest of the shopping center is owned (for the moment) by THF Harrisonburg Crossing LLC (read Chris’ post)

A call to the agent listed on the THF Harrisonburg Crossing page was not returned.

Harrionsburg Crossing

Widespread commercial real estate market collapse on a national (even international) level has recently been a concern of economists like Elizabeth Warren. But Best Buy is moving in where Circuit City used to be, and it’s my understanding that just because the property is in foreclosure, that doesn’t necessarily mean bad things for the stores and the shoppers.

Is this news about Harrisonburg Crossing an isolated incident, or just the tip of the iceberg? Any commercial realtors or economists care to add some perspective here?

UPDATE: On May 11, The Daily News-Record reported that the sale of Harrisonburg Crossing had been postponed. Doug Manners reports:

A public auction of the property, originally scheduled for May 4, was canceled the day before the sale was to have taken place on the steps of the Rockingham County Courthouse.

Casterline would not say why the auction was canceled or whether the property will be put up for sale again at a later date . . .

Harrisonburg Crossing is owned and operated by THF Harrisonburg Crossing LLC, which purchased the retail space in May 2004 from AIG Baker Harrisonburg Crossing LLC for $33 million, according to city records.

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4 Responses to “Harrisonburg Crossing in Foreclosure”

  1. JGFitzgerald says:

    This reminds me of what seemed like a zoning oddity at the time and sort of still does. In order to own their lots, Wal-Mart and Home Depot needed setback variances. Seems that if they’d owned the lots without variances, they’d have had to put the edge of the building a minimum distance from the property line. Picture, if you can, a strip mall with ten feet between all the buildings. Trees? Parking? Just an anomaly in the rules. The big boxes might not have noticed so much, but the smaller shops would have been New York-sized storefronts on H’burg-sized lots.

  2. Jamie Smith says:

    It is as poorly designed as any shopping center I have ever seen. Many locals refer to it as “Malfunction Junction.” The city fathers were so anxious to get a few more tax dollars that they failed to make the developer toe the line.
    Fire lanes, parking, ingress, egress, you name it, it stinks! Environmental issues weren’t properly addressed either. Some of those sink holes already experienced may be “potholes” compared to what may be coming.

    • Jon says:

      You are absolutely right. The parking lot design alone is sinful in its relentless traffic snarl mixed with pedestrian danger since cars go directly in front of stores. Cars should be directed to the middle, spreading to the edges of the lot, and the storefronts should be walking lanes.

  3. Clinton Fitzgerald says:

    Yes, Jamie, you’re absolutely correct. I think that putting the dual roads right next to the store was the worst idea they could’ve came up with. The x-ing was poorly planned. A 3 or 4-lane road going through the middle, with the current sidewalks staying where they are, but with the current area where the thoroughfares are, they should either fill these in with additional sidewalk, convert them into additional Handicapped parking spaces (badly needed), or make them into another set of “Fire Lanes” in case of emergency. They’re going to have to do something sooner or later, or else THF will end up with ‘NIGHTMARE CROSSING’. Also, if the 4-lane center thoroughfare idea would constrain parking space, you could also restrict parking in this area for RVs, and make them park in the lot area next to the Walmart Fuel Station; additionaly, you could also persuade people parking at the independent stores (Aroma Buffet, Legends Sports, Cold Stone, nTelos, Qdoba) to park in the lot next to the Walmart Gas Station.

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