Branders Creek had been owned by George Emerson’s Emerson Cos. Courtesy of Thalhimer.
A pair of Southside strip centers changed hands last month in multimillion-dollar deals.
Branders Creek Corner at 12200 Branders Creek Drive in Chesterfield County was sold in a deal that closed Feb. 17 for $6.2 million.
The 26,000-square-foot property had been listed since November of last year, according to Catharine Spangler of Cushman & Wakefield | Thalhimer, who handled the sale with fellow broker Jeff Cooke.
The buyers were a group of physicians out of Northern Virginia, Spangler said, through Branders Creek Corner Group LLC. She said they don’t have significant changes in mind for the property.
The center is 100 percent leased and boasts mostly healthcare tenants, including Primary Health Group and Ortho On Call. All of the six tenants in the property have long-term leases, Spangler said.
“They felt comfortable with the deal because they understood the user tenant base,” Spangler said.
The Emerson Cos., run by local developer George Emerson, was the seller, through Trine Properties LLC. It purchased the 4-acre parcel in 2013 for $697,000, county records show. Branders Creek Corner was constructed in 2014.
“It was a good deal for everybody,” Emerson said.
A week later, over the city line to the north, another strip center in the area changed hands.
The Parkway Shopping Center. Courtesy Colliers.
Parkway Shopping Center at 6315-59 Jahnke Road was purchased on Feb. 25 for $3.6 million by the same group that formerly owned Fairfield Commons Mall in Henrico County.
The buyer, Whitehead & Chiocca Properties, has plans to do some minor upgrades to the 72,000-square-foot property, according to partner Hunt Whitehead.
Yasmine Hamad of Colliers International represented both the buyer and the seller, Lim Family Partnership.
According to Hamad, the shopping center has about 10,000 square feet of vacant space, with some potential for outparcel development.
“The upgrades to some of the features will make it more modern,” Hamad said. “(The owners) are also very tenant-friendly when it comes to rent.”
The property was constructed in 1979. Its tenants include Boost Mobile, Angel Nails and 6335 Restaurant. It sits at the intersection of Jahnke Road and German School Road, adjacent to both Powhite Parkway and Chippenham Parkway.
The 7.5-acre parcel is managed by David Colbert of H&B Property Management.
Branders Creek had been owned by George Emerson’s Emerson Cos. Courtesy of Thalhimer.
A pair of Southside strip centers changed hands last month in multimillion-dollar deals.
Branders Creek Corner at 12200 Branders Creek Drive in Chesterfield County was sold in a deal that closed Feb. 17 for $6.2 million.
The 26,000-square-foot property had been listed since November of last year, according to Catharine Spangler of Cushman & Wakefield | Thalhimer, who handled the sale with fellow broker Jeff Cooke.
The buyers were a group of physicians out of Northern Virginia, Spangler said, through Branders Creek Corner Group LLC. She said they don’t have significant changes in mind for the property.
The center is 100 percent leased and boasts mostly healthcare tenants, including Primary Health Group and Ortho On Call. All of the six tenants in the property have long-term leases, Spangler said.
“They felt comfortable with the deal because they understood the user tenant base,” Spangler said.
The Emerson Cos., run by local developer George Emerson, was the seller, through Trine Properties LLC. It purchased the 4-acre parcel in 2013 for $697,000, county records show. Branders Creek Corner was constructed in 2014.
“It was a good deal for everybody,” Emerson said.
A week later, over the city line to the north, another strip center in the area changed hands.
The Parkway Shopping Center. Courtesy Colliers.
Parkway Shopping Center at 6315-59 Jahnke Road was purchased on Feb. 25 for $3.6 million by the same group that formerly owned Fairfield Commons Mall in Henrico County.
The buyer, Whitehead & Chiocca Properties, has plans to do some minor upgrades to the 72,000-square-foot property, according to partner Hunt Whitehead.
Yasmine Hamad of Colliers International represented both the buyer and the seller, Lim Family Partnership.
According to Hamad, the shopping center has about 10,000 square feet of vacant space, with some potential for outparcel development.
“The upgrades to some of the features will make it more modern,” Hamad said. “(The owners) are also very tenant-friendly when it comes to rent.”
The property was constructed in 1979. Its tenants include Boost Mobile, Angel Nails and 6335 Restaurant. It sits at the intersection of Jahnke Road and German School Road, adjacent to both Powhite Parkway and Chippenham Parkway.
The 7.5-acre parcel is managed by David Colbert of H&B Property Management.
Janke and German School has finally hit the re-do button as projects are springing up at that intersection. The big Breeden development may have spurred some action for other investments.