Regions Central Virginia

Real estate investment trust buys Mechanicsville shopping center for $12.2 million

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Hanover Square North shopping center courtesy CoStar Group Inc.


Hanover Square North, a 72,440-square-foot shopping center in Mechanicsville, has been sold for $12.2 million to Medalist Diversified Holdings LLC, a real estate investment trust.

According to Commonwealth Commercial Partners in Henrico County, which announced the sale, the transaction closed on May 8. Commonwealth Commercial developed, managed, leased and then sold the property at 7230 Bell Creek Road. The shopping center was built in 2007 and sits on 9.6 acres.

Evan Ocheltree, Craige Pelouze and Russell Wyatt represented the sellers, COF North LLC and COF North II LLC, in the transaction.

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