Industries Commercial Real Estate

Brookhill Azalea Shopping Center sells for $8.9 million

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Mighty Oak, a subsidiary of GE Capital, has sold Brookhill Azalea Shopping Center in Richmond for $8.95 million.  BSV Premier Brookhill LLC — an investment partnership controlled by the principals of Broad Street and The Premier Cos. — acquired the 162,000-square-foot neighborhood retail center at 5214 Chamberlayne Road.

The sale was brokered by Divaris Real Estate Inc. Alexander Divaris, the company’s vice president and Jason Oliver, a senior associate — both in the Investment Sales Group —  along with John Wingfield, principal of the Divaris’ Richmond office, represented the seller.  Divaris has been retained as the exclusive leasing agent of Brookhill Azalea Shopping Center.   

At the time of the acquisition, Divaris said in a statement that Brookhill Azalea was 70 percent leased to 18 tenants including such anchors as Food Lion, CitiTrends and Family Dollar.  Virginia Heritage Bank provided financing for the sale.

Divaris Real Estate, which has its headquartered in Virginia Beach, also has offices in Chesapeake, downtown and suburban Norfolk, Newport News, Richmond, Charlotte, N.C., and Rockville, Md. 


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