Linway Capital Partners Grows Portfolio
with Latest Acquisition in Covington, VA
ROCKVILLE, MD — Linway Capital Partners (“LCP”) is pleased to announce the acquisition of Walmart Shadow Center Riverbend, a 32,023-square-foot retail property strategically located in Covington, Virginia. Shadow-anchored by a top-performing Walmart Supercenter that has served the community since 2007, the center is home to a durable mix of national tenants including Dollar Tree, CATO, Shoe Show, and T-Mobile, alongside service and dining operators that remain resilient against e-commerce disruption.
With current occupancy of 92% and an impressive history of strong tenant performance, Walmart Shadow Center Riverbend presents immediate upside through the lease-up of remaining vacancies. The property demonstrates long-term stability, highlighted by multiple recent lease renewals, an average tenant tenure exceeding 17 years, and its position as the #1 most visited retail destination within a 30-mile radius. Covington further strengthens this investment with a robust local economy, anchored by WestRock’s paperboard mill, which employs more than 1,300 people and contributes over $328 million annually to the region.
LCP’s Principal Drew Briscoe stated, “The acquisition of Walmart Shadow Center Riverbend underscores our commitment to identifying resilient, necessity-based retail assets in strong regional markets. This center’s tenant mix, proven performance, and strategic location provide both stability and growth potential for our investors.”
In just four years, Linway Capital Partners has rapidly scaled its portfolio of necessity-based shopping centers across the Mid-Atlantic, now surpassing $25 million in assets under management. This accelerated expansion reflects the firm’s disciplined acquisition strategy, focus on value-add opportunities, and commitment to delivering sustained growth for its investor base.
9/16/2025
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