American Family Fitness building in Henrico sells for $4.1M
The building is currently leased to American Family Fitness.
An outparcel building at Virginia Center Commons Mall, which is leased to American Family Fitness, sold for $4.1 million, Norfolk-based real estate company S.L. Nusbaum Realty Co. announced Thursday.
The 86,627-square-foot building is located at 10101 Brook Road in Glen Allen and has been leased to American Family Fitness for more than seven years. The fitness chain recently extended its lease for the next 10 years and will remain at the site, although it is currently closed due to state restrictions on gyms and other businesses during the COVID-19 pandemic.
The 10.83 acres the building sits on was split from the mall when the mall was sold to Richmond-based The Rebkee Co. and Chester-based Shamin Hotels, which plans to develop an amateur sports complex for Henrico County there. The proposed 220,000-square-foot, 4,500-seat indoor sports arena is set to be built on the site of the former Sears department store, which closed in January 2019.
The building was purchased by Impact Investments Group LLC. David T. Kalman, vice president of S.L. Nusbaum Realty Co.’s Richmond office, represented the buyer. The seller was Great Neck, New York-based shopping mall investment company Kohan Retail Investment Group, which owns 30 shopping malls in the United States.
“Impact Investments Group recognizes the long-term value of the parcel, especially in light of the planned redevelopment of the site,” Kalman said in a statement.
Impact purchased the former Macy’s building at Virginia Center Commons in 2017 and sold it to Rebkee and Shamin in 2020, according to Henrico County property records.