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
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 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 Regions Central Virginia WestPark Shopping Center in Henrico County sells for $33.3 million

WestPark Shopping Center in Henrico County sells for $33.3 million

Published May 20, 2015 by Paula C. Squires

Cloverleaf Office Park courtesy Cushman & Wakefield | Thalhimer

 

WestPark Shopping Center, a 176,973-square-foot, grocery-anchored retail center on West Broad Street in Henrico County, has sold for $33.3 million, or about $189 per square foot. The buyer was InvenTrust Properties, a real estate investment trust based out of Oakbrook, Ill., that in 2014 owned 108 multi-tenant retail properties, comprising 15.5 million square feet of retail space in 24 states.

The center is located along one of Richmond’s most active retail areas, in the Short Pump corridor between Stillman Parkway and Pemberton Road.  It’s anchored by a  Martin’s grocery store. Other tenants include Christmas Tree Shops, Dickey’s BBQ, All Med Express, and The Tile Shop. 

Thalhimer's Capital Markets Group, in partnership with Cushman & Wakefield’s mid-Atlantic based retail investment sales team represented the center’s owner, Westdale Asset Management Ltd in the sale. According to Thalhimer, the center was 98.9% leased at the time of sale.

The sale was completed by Eric B. Robison of Cushman & Wakefield | Thalhimer’s Capital Markets Group, as well as leasing agent James Ashby IV, a first vice president, also in Thalhimer’s Richmond office, along with Geoffrey Millerd and Justin Smith of Cushman & Wakefield’s Boston, Mass., office and Chris Lawrence in Cushman & Wakefield’s Washington, D.C., office.

“We continue to see extremely strong investment appetite for all asset classes in Richmond.  WestPark Shopping Center was a highly sought after opportunity driven by the strength of the location and strong performance from Martins,” Eric Robison, Thalhimer’s capital markets leader, said in a statement.

According to Millerd, retail investment sales executive director for Cushman & Wakefield in the mid-Atlantic and Northeast, added, “InvenTrust did an excellent job acquiring Westpark in what was an extremely competitive bidding process that included a number of top tier institutional buyers.”

Related Stories

Virginia Business logo

New international grocery store coming to Richmond

Virginia Business logo

Cushman & Wakefield | Thalhimer to manage Hopewell apartment complex

Virginia Business logo

IBP Property LLC purchases portfolio of Richmond industrial properties for $6 million

Trending

Dollar Tree CEO resigning; former Dollar General CEO to replace him

Rivers Casino Portsmouth opens to big crowds

Norfolk’s MacArthur Center mall listed for sale

Framatome CEO retiring; CFO to be promoted

Va. bill aims to reduce mental health stigma for health care workers

Sponsored Stories

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

Dollar Tree CEO resigning; former Dollar General CEO to replace him

Rivers Casino Portsmouth opens to big crowds

Norfolk’s MacArthur Center mall listed for sale

Framatome CEO retiring; CFO to be promoted

Va. bill aims to reduce mental health stigma for health care workers

Sponsored Stories

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