Please ensure Javascript is enabled for purposes of website accessibility

Richmond shopping center portfolio sells for $125 million

Kira Jenkins //March 12, 2019//

Richmond shopping center portfolio sells for $125 million

Kira Jenkins //March 12, 2019//

Listen to this article

Richmond-based Marchetti Properties has sold a five-property shopping center portfolio in the Richmond area for $125 million.

Vienna-based Rosenthal Properties purchased the portfolio, which includes a total of 745,000 square feet of retail space, on March 1. Rosenthal also owns West Broad Marketplace in Western Henrico County.

Connie Jordan Nielsen, senior vice president at Cushman & Wakefield | Thalhimer, represented Marchteti Properties in the sale.

The properties, which are either discounter or grocery-anchored, are on average more than 95 percent leased.

The portfolio includes:

• Stonehenge Village, located on Midlothian Turnpike at Walmart Way (12501-125601 Stone Village Way) in Chesterfield County. The 180,000-square-foot shopping center is anchored by Wegmans and includes 71,300 square feet of inline space, with five outparcels.

• Parham Plaza, located on N. Parham Road at Quioccasin Road (1518-1532 N. Parham Road) in Henrico County, is a 177,450-square-foot center anchored by Walmart, T.J. Maxx and Petco.

• Staples Mill Marketplace is a 156,476-square-foot retail center anchored by Kroger Marketplace, with multiple outparcels including Panda Express and Zaxby’s, located on Staples Mill Road (9000-9120 Staples Mill Road) near the intersection of Hungary Spring Road in Henrico County.

• Ridge Shopping Center, totaling 101,163 square feet, is located across from Parham Plaza at 1500-1552 N. Parham Road, and anchored by The Fresh Market.

• Staples Mill Square, a 96,488-square-foot Target (separately owned), Aldi and Petco-anchored center, is located on Staples Mill Road at Old Staples Mill Road (9001 Staples Mill Road) in Henrico County.

YOUR NEWS.
YOUR INBOX.
DAILY.

By subscribing you agree to our Privacy Policy.