Shopping center gets a fresh owner

(Photo by Michael Schwartz)

The Farm Fresh-anchored shopping center at 2320 E. Main St. (Photo by Michael Schwartz)

A Shockoe Bottom shopping center has a new local owner.

The Wilton Companies last week acquired the Farm Fresh-anchored shopping center at 2320 E. Main St., across from Tobacco Row.

Wilton paid $6.62 million in the deal, which closed July 19, according to city records. It includes the 33,000-square-foot grocery store space, the neighboring 10,000-square-foot CVS pharmacy, and an adjacent two-level parking deck and 130 surface parking spaces.

The seller was Cleveland-based developer Forest City. It’s the latest in a line of deals by the company to sell off much of its Richmond holdings.

Its Tobacco Row properties – consisting of five renovated apartment buildings with more than 700 units, a 137,000-square-foot office building and a row of 12 townhouses – are also on the market. Forest City built the Farm Fresh shopping center in 2003 as an amenity for its Tobacco Row residents.

Forest City last month announced a deal to sell half of its stake in Short Pump Town Center. In September, it sold the White Oak Village shopping center in Eastern Henrico for $68 million.

Forest City still owns the 570,000-square-foot Richmond Office Park in Henrico. It has said it has no plans to sell that property and that it remains committed to its remaining stake in Short Pump Town Center.

Brett McNamee, a broker with Divaris Real Estate, represented Forest City in the shopping center deal.

Wilton Companies president and chief executive Rich Johnson could not be reached for comment on the acquisition.

The Farm Fresh store is the grocery chain’s only Richmond location.

(Photo by Michael Schwartz)

The Farm Fresh-anchored shopping center at 2320 E. Main St. (Photo by Michael Schwartz)

A Shockoe Bottom shopping center has a new local owner.

The Wilton Companies last week acquired the Farm Fresh-anchored shopping center at 2320 E. Main St., across from Tobacco Row.

Wilton paid $6.62 million in the deal, which closed July 19, according to city records. It includes the 33,000-square-foot grocery store space, the neighboring 10,000-square-foot CVS pharmacy, and an adjacent two-level parking deck and 130 surface parking spaces.

The seller was Cleveland-based developer Forest City. It’s the latest in a line of deals by the company to sell off much of its Richmond holdings.

Its Tobacco Row properties – consisting of five renovated apartment buildings with more than 700 units, a 137,000-square-foot office building and a row of 12 townhouses – are also on the market. Forest City built the Farm Fresh shopping center in 2003 as an amenity for its Tobacco Row residents.

Forest City last month announced a deal to sell half of its stake in Short Pump Town Center. In September, it sold the White Oak Village shopping center in Eastern Henrico for $68 million.

Forest City still owns the 570,000-square-foot Richmond Office Park in Henrico. It has said it has no plans to sell that property and that it remains committed to its remaining stake in Short Pump Town Center.

Brett McNamee, a broker with Divaris Real Estate, represented Forest City in the shopping center deal.

Wilton Companies president and chief executive Rich Johnson could not be reached for comment on the acquisition.

The Farm Fresh store is the grocery chain’s only Richmond location.

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING [email protected]

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.




Return to Homepage

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments