Affiliate of Cole Real Estate Investments buys Hancock Village in Chesterfield County
- July 8, 2013
An affiliate of Arizona-based Cole Real Estate Investments has purchased Hancock Village, a 153,853-square-foot shopping center in Chesterfield County anchored by Dick’s Sporting Goods and Hobby Lobby.
Jones Lang LaSalle handled the sale on behalf of Virginia-based Edco LLC. Hancock Village is located at the intersection of Hull Street and Winterpock Road.
“Cole purchased a desirable, well-tenanted property in the heart of a high-growth area,” Margaret Caldwell, a JLL managing director, said in a statement. “This type of quality, class A, retail product is in strong demand by investors and tenants currently looking to expand into growth markets with significant incomes.”
According to JLL, Hancock Village is 100 percent leased. The sales price for the shopping center was reportedly $27.5 million.
This is the second purchase in the Richmond region for Cole, a Phoenix-based real estate investment trust, which paid $68 million for The Shops at White Oak Village in Eastern Henrico last year.