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Washington DC & Mid-Atlantic  + DC Metro  + Retail  |  November 9, 2020
David Cohen
By: David Cohen

Richmond Retail Center Trades for $11M

A partnership between Auerbach Funds, Elevation Real Estate Group and Beechmont Acquisitions has acquired Parc Place, an 82,968-square-foot shopping center in Richmond. The sales price was reported as $10.8 million.

Located at 11736 W. Broad St. in Richmond’s Short Pump district, the tenant roster at the center consists of Dollar Tree, PetSmart, Anytime Fitness, DXL Big + Tall, LensCrafters and Sports Clips. The retail center previously traded for $25 million in 2016.

Loretta Cataldi and Sara Goodall of Divaris Real Estate’s Richmond office represented the partnership in the acquisition. The seller was London Reo Retail-VA LLC.

For comments, questions or concerns, please contact David Cohen

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Connect With Auerbach FundsConnect With Divaris’ Cataldi

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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