Norfolk-based S.L. Nusbaum Realty Co. has purchased 33 acres of land to be used as the future development site of Burton Crossing.
Located south of Norfolk International Airport, off Interstate 64, at the intersection of Northampton Boulevard and Premium Outlets Boulevard, in Virginia Beach, the project is adjacent to the new Norfolk Premium Outlets and close to the future IKEA Home Furnishings, said Richard M. Jacobson, Nusbaum senior vice president.
Northampton Development, L.L.C., an S.L. Nusbaum Realty Co.- sponsored entity, purchased the land from Norfolk's Economic Development Authority, said Jacobson.
"Burton Crossing will consist of a 250,000-square-foot, new mixed-use development featuring retail shops, restaurants, financial institutions and professional offices," said Jacobson. "Quality architecture and landscaping, along with the adjacent lakefront public park, will make the project aesthetically pleasing, while providing convenient services to surrounding neighborhoods, as well as visitors to the region."
IKEA is slated to open in the spring of 2019 and will feature a 331,000-square-foot footprint, offering nearly 10,000 items, 50 rooms, three model-home interiors, a kids’ play area and a 450-seat restaurant.
"The steady flow of consumers to both the Norfolk Premium Outlets and IKEA can only provide positive momentum for the Burton Crossing project," said Jacobson.