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Washington DC & Mid-Atlantic  + DC Metro  + Retail  |  September 23, 2020
David Cohen
By: David Cohen

JLL Arranges $2M Sale of Richmond Retail Property

JLL has brokered the $1.7 million sale of a newly built, 1,668-square-foot retail property ground leased to Valvoline in the Richmond-area community of Chester, VA.

Located on nearly an acre at 2501 West Hundred Rd., the property is nearby Interstate 95. This location is the only Valvoline within five miles and the closest oil change location to I-95. Valvoline is a leading, worldwide marketer and supplier of premium-branded lubricants and automotive services with sales in more than 140 countries. Valvoline is the second largest instant oil change chain by locations in the U.S. with more than 1,300 stores.

Brad Peterson, Michael Brewster and Jordan Lex of JLL represented the seller, Tennessee-based GBT Realty Corp., in the transaction. The buyer was a private investor.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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