Chesterfield Towne Center 4 Retail Properties in Multiple Locations
EXECUTIVE SUMMARY
Newmark has been exclusively retained to market to qualified investors the opportunity to acquire Chesterfield Towne Center, a multibuilding retail center in Richmond, Virginia. The total Property consists of 1,030,884 square feet of gross leasable area, situated on 81.6 acres. Included in the offering is the entirety of the enclosed mall portion which is anchored by JCPenney (145,770 SF), Macy’s (141,772 SF), At Home (109,933 SF), and T.J.Maxx/HomeGoods (52,000 SF). Additional retail components include Chesterfield Towne Center Plaza, a 62,875 square foot strip center occupied by Five Below, Men's Wearhouse, Ross, and Skechers as well as several outparcels occupied by Canastas Chicken, Carrabba's, ML Steak, and Kali Love.
Chesterfield Towne Center serves as the retail cornerstone for the affluent Chesterfield neighborhood. The Property is located at the intersection of Midlothian Turnpike / US-60 (50,000 VPD) and Huguenot Road, VA-147 (45,000 VPD) and is the largest enclosed mall in the Richmond area. Located 12 miles from downtown Richmond in a fast growing affluent suburb, the Property is considered the retail nexus within the trade area and is surrounded by national retailers and other commercial uses, in addition to a growing housing stock.
This offering represents a unique opportunity to acquire a well-located institutionally owned regional shopping destination at an attractive basis with numerous opportunities to add value.
Chesterfield Towne Center serves as the retail cornerstone for the affluent Chesterfield neighborhood. The Property is located at the intersection of Midlothian Turnpike / US-60 (50,000 VPD) and Huguenot Road, VA-147 (45,000 VPD) and is the largest enclosed mall in the Richmond area. Located 12 miles from downtown Richmond in a fast growing affluent suburb, the Property is considered the retail nexus within the trade area and is surrounded by national retailers and other commercial uses, in addition to a growing housing stock.
This offering represents a unique opportunity to acquire a well-located institutionally owned regional shopping destination at an attractive basis with numerous opportunities to add value.
PROPERTY FACTS
| Sale Type | Investment |
| Status | Under Contract |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 939,301 SF |
| Total Land Area | 227.76 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Carrabas Restaurant
11450 Midlothian Tpke, Richmond, VA 23235 |
Retail | 6,780 SF | 1976 | - |
|
Chesterfield Towne Center Plaza
11300-11390 Midlothian Tpke, Richmond, VA 23235 |
Retail | 62,920 SF | 1984 | - |
|
Chesterfield Towne Center
11500 Midlothian Tpke, Richmond, VA 23235 |
Retail | 723,831 SF | 1976 | - |
|
JCPenney
11500 Midlothian Tpke, North Chesterfield, VA 23235 |
Retail | 145,770 SF | 1976 | - |
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