Armada Hoffler Properties completes acquisition of Colonial Heights retail center
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Armada Hoffler Properties Inc. has completed its acquisition of Dimmock Square, a retail power center in Colonial Heights.
The Virginia-Beach based commercial real estate investment trust said Wednesday that company acquired a 100 percent interest in Dimmock Square in exchange for approximately 990,000 of operating partnership units and about $10 million of cash.
The acquisition will add more than 100,000 square feet of occupied retail space to Armada Hoffler’s portfolio. Dimmock Square is located between Southpark Mall and a Walmart Supercenter.
