202.5

Appliance retailer eyeing expansion into Greater Washington

A Virginia Beach household appliance retailer is moving north, acquiring former Toys R Us properties will an eye on Greater Washington.

East Coast Appliance, which bills itself as the state’s largest independent retailer of household appliances, has purchased a 30,000-square-foot former Toys R Us store in the massive Central Park shopping plaza in Fredericksburg. Terms of the deal were not disclosed.

East Coast Appliance owner Rob Nicholson said in a statement his company is looking other markets in the state, and he sees Northern Virginia as “an opportunity” for his business.

“Fredericksburg puts us within easy distance of Washington, D.C., one of the most robust and most economically stable markets in the world,” Nicholson said in a statement.

The purchase coincided with another Toys R Us buy in Norfolk, where the company will open a superstore and establish its new corporate headquarters. Rob Heavner of Retail Advisors Inc. represented East Coast Appliance in both acquisitions.

“The…

Read the full story from the Washington Business Journal.



Advertiser Content