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Q&L Realty Scoops Up Colonial Heights Retail Complex for $6M
Q&L Realty has acquired the Southpark Square Shopping Center, a 34,705-square-foot retail complex in the Richmond submarket of Colonial Heights, VA, for $5.5 million. The center is currently anchored by For Eyes, Party City and Landmark Financial.
The seller was Colonial Heights Land Associates Limited Partnership, which had owned the center since 2005.
John Madures with Divaris Real Estate represented the buyer. Divaris Real Estate has assumed leasing responsibilities.
“Demand for the center when it went on the market was very high and very competitive,” said Madures. “Ultimately we beat out four other contracts to win the purchase.”
Southpark Square is situated on 6.67 acres with access to Interstate 95 and Interstate 85. It is 20 minutes south of Richmond in a high volume, heavy traffic shopping district adjacent to Southpark Mall.
- ◦Sale/Acquisition
