Richmond shopping center sells for $3.5 million

A former owner of Fairfield Commons Mall in Eastern Henrico County has purchased the Parkway Shopping Center on Jahnke Road in Richmond.

According to Colliers International in Richmond, Whitehead & Chiocca Properties bought the 72,000-square-foot shopping center on Feb. 25 for $3.6 million. The deal closed following several new leases at the center to Boost Mobile, Angel Nails, 6335 Restaurant and others.

The property is adjacent to the Powhite Parkway and Chippenham Parkway at the intersection of Jahnke Road and German School Road. The building was constructed in 1979 and is anchored by Rite Aid, Dollar General and CareMore.

Yasmine Hamad of Colliers International handled the negotiations on behalf of the seller and the buyer. David Colbert and a team at H&B Property Management
will continue to handle the center’s property management.

In other deals for Colliers in the Richmond market:

Zehn LLC purchased 35,820 square feet at 2559 Turkey Creek Road in Goochland County from Paladin Properties LLC for $1.8 million as an investment. Chip Louthan and Jason Hetherington handled the transaction on behalf of the seller.

4 Wheel Parts leased 13,400 square feet at 8400 Midlothian Turnpike in Chesterfield County. Brian Glass handled the transaction on behalf of the tenant.