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JLL Arranges $6M Sale of Richmond Retail Property

JLL has arranged the $6 million sale of the Hobby Lobby at Bermuda Square, a newly constructed, 50,000-square-foot single-tenant retail building net leased to Hobby Lobby in the suburban Richmond community of Chester, VA.

Hobby Lobby is the largest privately owned arts and crafts retailer in the world with more than 900 stores and 43,000 employees operating in 46 states. The Hobby Lobby at Bermuda Square was completed in 2021 on a more than one-acre site at the Bermuda Square shopping center, which also includes a mix of recognizable retailers.

Brad Peterson, Michael Brewster, Jordan Lex and Joseph Naas of JLL represented the seller, Tennessee-based GBT Realty Corp., in the transaction. An institutional owner purchased the asset.


Inside The Story

JLL’s Peterson

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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