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Colliers Brokers $5.4M Richmond Outparcel Sale
Private buyers have purchased two properties – a multi-tenant and a standalone property – in a popular Richmond shopping center for $4,010,000 and $1,375,000, respectively.
Michael Brewster and Brad Peterson of the Colliers East Coast Investment Team represented the seller—a Texas-based family office. Jay O’Donnell and Jeff Fritz of Colliers were also involved.
“Structuring a deal in this way – where the shopping center is split up and sold off as several smaller components, rather than selling the entire center to a single buyer – is a great strategy for investors looking to maximize returns,” said Colliers Vice Chairman Peterson.
The outparcel properties are located in Bermuda Square, at 12531-12533 Richmond Highway in the suburb of Chester.
“These properties have strong tenants with long-term leases or long-standing success at the center, making them a great investment for the buyers,” said Brewster, vice president of Colliers.
- ◦Sale/Acquisition

