Joint Venture Acquires Five-Property Shopping Center Portfolio in Metro Richmond for $125 Million

by Alex Tostado

Richmond, Va. — A joint venture between Rosenthal Properties and PGIM Real Estate has acquired a five-property shopping center portfolio in metro Richmond, Virginia, spanning 745,000 square feet for $125 million.

Connie Jordan Nielsen of Cushman & Wakefield | Thalhimer represented the seller, Marchetti Properties, in the transaction. The portfolio includes Stonehenge Village, a 180,000-square-foot power center anchored by Wegmans. The shopping center also features 71,300 square feet of inline space and five outparcels. Other assets in the portfolio include Staples Mill Marketplace, a 156,476-square-foot, Kroger-anchored retail center, with additional tenants including Panda Express and Zaxby’s; Staples Mill Square, a 96,488-square-foot center leased to Petco, Aldi, Discount Tire, McDonald’s and Taco Bell; Parham Plaza, a 177,450-square-foot center anchored by Walmart, T.J. Maxx and Petco; and Ridge Shopping Center, a 101,163-square-foot center anchored by The Fresh Market, with other tenants including Sherwin Williams, Chick-fil-A, Hallmark, Virginia ABC and Sugar Shack.

You may also like