Local investor bags Powhatan shopping center for $4.3M

A local investor recently bought The Maxey Center in Powhatan County for $4.3 million. (Courtesy of S. L. Nusbaum Realty Co.)

A shopping center in the heart of Powhatan County has been sold to a local buyer.

The Maxey Center at 3452 Anderson Highway sold in recent weeks for $4.3 million.

The buyer was Ruffin Mill LLC, an entity tied to Jacques Gits of Gits Masonry in Powhatan.

The seller was JWN Properties LLC out of Minnesota, which bought the property for $3.8 million in 2015, according to county records.

The 17,000-square-foot shopping center’s tenant list includes Bon Secours Powhatan Medical Associates, Powhatan Gentle Dentistry and Edward Jones.

The property was most recently assessed by the county at $3.1 million.

Mike Carroll of General Land Co. represented the buyer. A phone message left for Gits wasn’t returned last week.

Nathan Shor, Thomas Langston, Elliot Warsof, Mike Zarpas and Chris Zarpas of S. L. Nusbaum Realty Co. represented the seller.

Shor said in an email the seller was a Minnesota man who didn’t have a large real-estate portfolio.

Nusbaum announced the deal earlier this month. The deal wasn’t yet reflected in the county’s online land records last week.

A local investor recently bought The Maxey Center in Powhatan County for $4.3 million. (Courtesy of S. L. Nusbaum Realty Co.)

A shopping center in the heart of Powhatan County has been sold to a local buyer.

The Maxey Center at 3452 Anderson Highway sold in recent weeks for $4.3 million.

The buyer was Ruffin Mill LLC, an entity tied to Jacques Gits of Gits Masonry in Powhatan.

The seller was JWN Properties LLC out of Minnesota, which bought the property for $3.8 million in 2015, according to county records.

The 17,000-square-foot shopping center’s tenant list includes Bon Secours Powhatan Medical Associates, Powhatan Gentle Dentistry and Edward Jones.

The property was most recently assessed by the county at $3.1 million.

Mike Carroll of General Land Co. represented the buyer. A phone message left for Gits wasn’t returned last week.

Nathan Shor, Thomas Langston, Elliot Warsof, Mike Zarpas and Chris Zarpas of S. L. Nusbaum Realty Co. represented the seller.

Shor said in an email the seller was a Minnesota man who didn’t have a large real-estate portfolio.

Nusbaum announced the deal earlier this month. The deal wasn’t yet reflected in the county’s online land records last week.

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