OBX Commercial Real Estate Newsletter: April 2022

by Larry Lombardi, on Apr 7, 2022 8:00:00 AM

Think Currituck Ben Leon SL Nusbaum

OBX CRE Spotlight

Ben Leon

Associate Broker

 sl nusbaum logo


Quick Facts

  • Born and raised in Virginia Beach
  • Currently lives in Virginia Beach
  • Bachelor of Business Administration (BBA) from the University of Georgia

How long have you been working in commercial real estate?

Over three years now.
Currituck County NC CRE

What was your first CRE transaction?

My first lease was the “adult store” Romantic Kingdom in the Virginia Beach Hilltop area. I still catch flak from family and friends about that lease, but rest assured, I am not specializing in that category.
What was your most memorable CRE transaction?

My colleague Nathan Shor and I helped assemble two off-market parcels for a new construction lease with a national convenience store operator.

Although we have been working on the deal for nearly two years and are waiting for one of the parcels to close, it has been very exciting to see everything come together. The two properties are much more valuable when combined so even though our client was the buyer it was also rewarding to see both property owners maximize the value of their respective properties by selling at the same time.

What's your favorite part of working in CRE?
Every property is so different, that it’s like solving a puzzle trying to figure out what the highest and best use can be.
For example, I was able to sell a shopping center in Portsmouth for a family who built it many years ago. I was able to maximize value for them by finding an owner-occupant to purchase the property (typically owner-occupants can pay more than investors).
Currituck County NC CRE April
How would you describe the commercial real estate market in northeastern NC and the Outer Banks?
Growing rapidly. We are working on a new Dunkin-anchored strip center in Moyock and there has been a lot of retail demand so far. I am confident that demand will continue to increase, especially with all the additional residential development in the area.
Can you share one great piece of advice for someone looking to buy/lease commercial property or land?
There are a lot of people who do not understand that there are typically no additional costs for a buyer or tenant to be represented by a broker. I would highly recommend they utilize an experienced broker who will be looking out for their best interest.
You get five acres and an unlimited construction budget. What do you build and where?
A golf driving range/tequila distillery combo in Jalisco, Mexico.
Caddyshack Murray
What's one movie you love to rewatch?
Hard to pick just one! Caddyshack, Old School, The Dark Knight and Django Unchained are a few that I love to watch over and over.
What's your favorite way to spend your free time?
I love playing golf, basketball, pickleball, Spikeball and really... any sport that involves a ball!

Contact Info

Ben Leon
(757) 640-2272


Featured Property

Currituck County NC CRE April 3

40 Commercial Acres in Moyock

Lots of potential for the right business or development. Any business other than heavy industrial are allowed within this zoning. Several surveys and a soil study have been conducted for the acreage. There is a valid septic permit in hand as well as site plans and septic system design for a proposed development.

Click for More Info


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Topics:Commercial Real EstateEconomic DevelopmentCurrituck CountyOuter Banks