New York investment firm purchases Short Pump Station for $54.96M

Nuveen Real Estate, a New York investment management firm, purchased Short Pump Station in western Henrico County from Wafra, an alternative investment managing firm also based in New York, for $54.96 million on Dec. 30, 2024, according to a Tuesday announcement by Wafra and Henrico County records.

Grocery retailer Trader Joe’s is the anchor tenant of the 91,369-square-foot shopping center at 11301 W. Broad St. in Glen Allen, which also includes Ulta and Petco stores. Short Pump Station attracts 2.3 million visits a year, according to Wafra.

“Short Pump Station aligns perfectly with our grocery-anchored neighborhood retail strategy, in the growing and dynamic Short Pump submarket.” Ryan Boan, U.S. head of retail transactions at Nuveen Real Estate, said in a statement.

Wafra purchased Short Pump Station in 2021 from a joint venture between BayNorth Capital, a Boston-based real estate private equity firm, and AmCap, a Connecticut real estate firm that invests in grocery-anchored retail properties, for $46.7 million. The property was built in 2008.

“The Short Pump investment resulted in an excellent outcome for our investors,” David Hamm, head of real estate at Wafra, stated in a news release.

John Owendoff of Cushman & Wakefield and Catharine Spangler of Cushman & Wakefield | Thalhimer advised Wafra on the sale.

Cushman & Wakefield | Thalhimer will continue leasing and managing Short Pump Station.