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CushWake Arranges Sale of Publix-Anchored Center in Richmond
Cushman & Wakefield has arranged the sale of Charter Colony, a 71,741-square-foot grocery-anchored shopping center located in the Richmond, VA suburb of Midlothian.
A Cushman & Wakefield team of John Owendoff, Eric Robison and Catharine Spangler represented the seller in the transaction. In addition, the brokerage’s Michael Zelin and Marshall Scallan have been engaged to source post-acquisition financing on behalf of the purchaser.
“Investors continue to flock to retail, particularly grocery-anchored centers, as the product class offers exceptional cash flow durability and favorable risk-adjusted returns,” said Owendoff. “Charter Colony, with a long-term Publix lease and dynamic tenant mix, garnered tremendous investor interest from a wide spectrum of capital sources.”
Charter Colony, built in 2015, is 98% leased to a diversified roster of tenants spanning food, service, medical and veterinary offerings, with Publix comprising 67% of the center’s GLA. The center is on the Midlothian Turnpike (Route 60) and surrounded by residential communities.
- ◦Sale/Acquisition
