Staples Mill Plaza shopping center sold
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The Staples Mill Plaza shopping center has a new owner.
A holding company – SO - Staples Mill Plaza JV LLC – purchased the 70,147-square-foot shopping center for $10.02 million in a deal that closed May 30.
Cushman & Wakefield | Thalhimer represented the seller, Washington, D.C.-based Stavins & Axelrod, in the sale of the center, which is anchored by a Food Lion at the intersection of Staples Mill and Hungary Spring roads.
"Proven grocery-anchored product with service-oriented small shop users continues to remain in favor with investors," said Spangler. "With stable in-place cash flow, at or below market rents in Richmond’s thriving Northwest Retail Quadrant, Staples Mill Plaza generated significant interest and was no exception with respect to creating a competitive offer process."
The center was 94.3% leased at the time of the sale. Food Lion has occupied its space at the property since 1986.
