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.
- ◦Acquisition