New York-based ShopOne purchased Staples Mill Plaza on the nook of Hungary Spring and Staples Mill roads in western Henrico for $10 million. (Jack Jacobs photographs)
A pair of Henrico procuring facilities on both finish of the county have come underneath new possession.
Staples Mill Plaza close to Glen Allen and Laburnum Park Procuring Heart in Montrose offered in latest weeks to corporations new to the Richmond area.
New York-based ShopOne purchased Staples Mill Plaza in a $10 million deal recorded with the county in late Might.
The deal included properties at 9121 Staples Mill Street, which makes up the majority of the 70,000-square-foot, Meals Lion-anchored middle, and an outparcel at 9199 Staples Mill Street that’s occupied by a number of companies. Collectively the parcels have an assessed worth of $7.9 million, based on on-line land information.
Different tenants embody Pizza Hut and Hair Cuttery.
The middle is close to the intersection of Hungary Spring and Staples Mill roads.
“Staples Mill Plaza is a chief neighborhood retail asset anchored by a top-performing grocer and supported by a complementary tenant combine,” ShopOne CEO Chris Reed mentioned in a ready assertion. “Its strategic location at a busy intersection inside a rising market makes it a compelling addition to our portfolio.”
The middle is ShopOne’s first property within the Richmond market and second in Virginia. The opposite is Lake Ridge Commons in Woodbridge.
The REIT bought the western Henrico middle in a three way partnership with Pantheon and an unidentified “main international institutional investor,” based on an organization announcement made final week. Staples Mill Plaza is the twenty second middle to be added to the three way partnership’s portfolio.
The vendor within the deal was D.C.-based Stavins & Axelrod, which had owned the property since 1989.
Catharine Spangler of Thalhimer represented the vendor. Spangler was assisted by Thalhimer colleagues Richard Thalhimer, who has dealt with leasing on the middle for greater than 20 years, and Annie O’Connor.
Thalimer mentioned Staples Mill Plaza was 94% leased when the deal closed.
ShopOne didn’t reply to an e-mail in search of touch upon the deal.
The Bruster’s Ice Cream at 9101 Staples Mill Street and the Pets First veterinary apply at 9201 Staples Mill Street on the middle weren’t a part of the deal.
Laburnum Park Procuring Heart not too long ago was bought by Oklahoma-based The Criterion Fund in a $9.1 million deal. The middle is in jap Henrico and throughout the highway from White Oak Village.
In jap Henrico, a equally sized Laburnum Park Procuring Heart was acquired by The Criterion Fund out of Oklahoma for $9.1 million final month.
The 61,000-square-foot middle options tenants like medical marijuana dispensary Cannabist and Greenback Tree. The property that modified palms consisted of three parcels, at 4330, 4356 and 4396 S. Laburnum Ave., based on a information launch.
The assessed worth of the property is $10.8 million, based on on-line information.
The vendor was Westover Flats LLC, a Northern Virginia firm that acquired the property in a $7.3 million deal in 2017.
Ben Wilson of Bethesda-based brokerage Greysteel, which additionally has an area workplace, represented the vendor. Greysteel mentioned in its announcement of the deal in late Might that the property acquired 10 affords.
The middle had 92% occupancy as of January, based on Greysteel’s itemizing. The Gold’s Gymnasium and three outparcels fronting Laburnum on the middle weren’t a part of the deal.
Laburnum Park is the primary property within the Richmond area for The Criterion Fund. The agency’s Andy Thelen mentioned there are plans to make enhancements to the property following the acquisition.
