Midlothian retail center fetches nearly $9M

Gold Investments USA purchased the Shops at the Arboretum at 9101-9111 Midlothina Turnpike for $8.8 million on June 6. Photo by J. Elias O'Neal.

Gold Investments USA purchased the Shops at the Arboretum at 9101-9111 Midlothina Turnpike for $8.8 million on June 6. Photo by J. Elias O’Neal.

An Alabama-based real estate investment firm has staked its entry into the Richmond market with a seven-figure purchase.

An entity tied to Birmingham-based Gold Investments USA last month purchased the Shops at the Arboretum shopping center at 9101-9111 Midlothian Turnpike in Chesterfield County for $8.8 million, according to county property records.

The firm purchased the property from Midlothian Arboretum SPE LLC on June 6.

Located near the Midlothian Turnpike-Powhite Parkway interchange, the 103,000-square-foot center was most recently assessed for $10.4 million, according to county records.

Gold Investments principle Mark Gold did not return requests for comment by press time.

Brokers Jim Ashby and Richard Thalhimer of Cushman & Wakefield | Thalhimer will manage and lease the property, which has about 19,000 square feet of available, including a former 13,000-square-foot Staples location.

The Shops at the Arboretum was constructed on about 9 acres in 1989. It is adjacent to the 500,000-square-foot Arboretum Office Park.

Retail tenants include Gold’s Gym, Starbucks, Window World and Sushi King.

Gold Investments USA purchased the Shops at the Arboretum at 9101-9111 Midlothina Turnpike for $8.8 million on June 6. Photo by J. Elias O'Neal.

Gold Investments USA purchased the Shops at the Arboretum at 9101-9111 Midlothina Turnpike for $8.8 million on June 6. Photo by J. Elias O’Neal.

An Alabama-based real estate investment firm has staked its entry into the Richmond market with a seven-figure purchase.

An entity tied to Birmingham-based Gold Investments USA last month purchased the Shops at the Arboretum shopping center at 9101-9111 Midlothian Turnpike in Chesterfield County for $8.8 million, according to county property records.

The firm purchased the property from Midlothian Arboretum SPE LLC on June 6.

Located near the Midlothian Turnpike-Powhite Parkway interchange, the 103,000-square-foot center was most recently assessed for $10.4 million, according to county records.

Gold Investments principle Mark Gold did not return requests for comment by press time.

Brokers Jim Ashby and Richard Thalhimer of Cushman & Wakefield | Thalhimer will manage and lease the property, which has about 19,000 square feet of available, including a former 13,000-square-foot Staples location.

The Shops at the Arboretum was constructed on about 9 acres in 1989. It is adjacent to the 500,000-square-foot Arboretum Office Park.

Retail tenants include Gold’s Gym, Starbucks, Window World and Sushi King.

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