Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Advertisement

Header Primary Menu

  • Issues
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • Issues Archive
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Home News Chester shopping center sells for $18.6M

Chester shopping center sells for $18.6M

Tenants include PetCo, Starbucks and Chipotle

Published December 2, 2019 by Sydney Lake

Bermuda Square shopping center in Chester has been sold for $18.6 million, according to Cushman & Wakefield | Thalhimer’s Capital Markets Group.

Brentwood, Tennessee-based GBT Realty Corp. acquired the 84,064-square-foot property, its first investment in the Richmond market, on Nov. 26 from Giant Food Stores, the parent company of Martin’s grocery stores, according to Catharine M. Spangler, senior vice president for Thalhimer’s Capital Markets Group.

“This asset is an ideal acquisition for GBT, given its immediate upside potential, locational drivers and strong property fundamentals,” said Scott Porter, managing director, Capital Holdings, GBT Realty.  “We made significant progress in backfilling the existing anchor vacancy and solidifying tenancy for the undeveloped parcel during due diligence.  We expect to add a few new names to our tenant lineup soon.”

Giant purchased the 14.65-acre property in October 2017 for $14 million from Site Centers following the closure of 19 Martin’s stores in Richmond. The big box space once occupied by Martin’s was still vacant at the time of the sale to Bermuda Square Venture LLC.

Located at the intersection of Jefferson Davis Highway and West Hundred Road, the shopping center is occupied by tenants including PetCo, SunTrust Bank, Starbucks, Chipotle, Mattress Firm, Shoney’s and Virginia ABC.

Spangler handled the sale negotiations while David Crawford and Pete Waldbauer served as leasing advisers during the disposition.

The shopping center includes two multi-tenant buildings and six single-tenant outparcels along with a roughly 6-acre improved pad site. It’s valued at $221 per square foot.

Related Stories

Virginia Business logo

Henrico shopping center sells for $21.7M

Mall was purchased by Canadian real estate investment firm.

Virginia Business logo

American Family Fitness building in Henrico sells for $4.1M

The building is currently leased to American Family Fitness.

Campbell County shopping center sells for $4.7M

Food Lion-anchored property sold to Pennsylvania company

Trending

Norfolk’s MacArthur Center mall listed for sale

Making strides

Fort Monroe development moving forward

It’s back!

Danville lacks housing options for workforce

Sponsored Stories

What Logistics issues will have the biggest impact on you in 2023?

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Advertisement

Advertisement

Trending

Norfolk’s MacArthur Center mall listed for sale

Making strides

Fort Monroe development moving forward

It’s back!

Danville lacks housing options for workforce

Sponsored Stories

What Logistics issues will have the biggest impact on you in 2023?

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk