Super-regional shopping center in Richmond sells for $18.25M
Eastgate Town Center is 97% leased
The Eastgate Town Center in Richmond sold for more than $18.25 million, Colliers Capital Markets announced Wednesday.
Located at 4905-4995 Nine Mile Road, the 117,773-square-foot super-regional shopping center is shadow anchored by a Walmart Supercenter and was 97% occupied at the time of sale. Its tenants include Conn’s Inc., Planet Fitness, Hibbett Sports, Virginia ABC, T-Mobile USA Inc. and Dunkin’ Donuts.
The center sits on the site of the former Eastgate Mall, which was constructed in 1967. The 31-acre site was redeveloped in 2017.
EASTGATE TOWN LLC, owned by Washington, D.C.-based investor Nelson Ayala, bought the property from Eastgate Town Center LLC, owned by Richmond-based real estate investor Mark Harris.
Bethesda, Maryland-based property and asset management company The Premier Cos. Inc. assisted the buyer and will manage the property. Mark Williford, a vice president with Colliers, and Will Bradley, Collier executive vice president, represented the seller.