Richmond shopping center portfolio sells for $125 million
- March 12, 2019
Richmond-based Marchetti Properties has sold a five-property shopping center portfolio in the Richmond area for $125 million.
Vienna-based Rosenthal Properties purchased the portfolio, which includes a total of 745,000 square feet of retail space, on March 1. Rosenthal also owns West Broad Marketplace in Western Henrico County.
Connie Jordan Nielsen, senior vice president at Cushman & Wakefield | Thalhimer, represented Marchteti Properties in the sale.
The properties, which are either discounter or grocery-anchored, are on average more than 95 percent leased.
The portfolio includes:
• Stonehenge Village, located on Midlothian Turnpike at Walmart Way (12501-125601 Stone Village Way) in Chesterfield County. The 180,000-square-foot shopping center is anchored by Wegmans and includes 71,300 square feet of inline space, with five outparcels.
• Parham Plaza, located on N. Parham Road at Quioccasin Road (1518-1532 N. Parham Road) in Henrico County, is a 177,450-square-foot center anchored by Walmart, T.J. Maxx and Petco.
• Staples Mill Marketplace is a 156,476-square-foot retail center anchored by Kroger Marketplace, with multiple outparcels including Panda Express and Zaxby’s, located on Staples Mill Road (9000-9120 Staples Mill Road) near the intersection of Hungary Spring Road in Henrico County.
• Ridge Shopping Center, totaling 101,163 square feet, is located across from Parham Plaza at 1500-1552 N. Parham Road, and anchored by The Fresh Market.
• Staples Mill Square, a 96,488-square-foot Target (separately owned), Aldi and Petco-anchored center, is located on Staples Mill Road at Old Staples Mill Road (9001 Staples Mill Road) in Henrico County.