The two properties in Short Pump sold for a total of $23.2 million. (Mike Platania photos)
A Short Pump retail strip and its neighboring bowling alley have new landlords: one a relative mystery, while the other is Gov. Glenn Youngkin’s former firm.
Parc Place at Short Pump, a shopping center at 11736 W. Broad St. with tenants such as PetSmart, Anytime Fitness and Tropical Smoothie Cafe, sold last month for $17.6 million, per Henrico County records.
Days earlier, the adjacent Bowl America Short Pump building at 4400 Pouncey Tract Road sold for $5.6 million.
Both properties are on the eastern side of Short Pump Town Center. Parc Place spans two buildings totaling 83,000 square feet, while Bowl America is the sole tenant in its 35,000-square-foot building.
Parc Place’s new owner is Parc Place Holdings LLC, which county records show is an entity tied to Dipen Patel of Ellicott City, Maryland. David Crotts of Marcus & Millichap’s Institutional Property Advisors division represented the buyer in the deal and said his client wished to remain anonymous.
County records show the Bowl America building’s new owner is The Carlyle Group, the publicly traded, D.C.-based hedge fund of which Gov. Glenn Youngkin was formerly CEO.
It’s unclear whether this is Carlyle’s first real estate deal in the Richmond region, though in the past it has made local business acquisitions. The firm did not respond to requests for comment by press time.
In 2019 Parc Place at Short Pump fell into foreclosure and sold to a California firm in a forced sale for $16.8 million, only to sell a year later in another bank resale for $11.3 million to a joint venture of Charlotte-based firms Auerbach Funds and Elevation Real Estate Group.
Auerbach and Elevation oversaw a renovation and rebranding of the center in 2021. At the time of sale, Crotts said Parc Place was 93 percent leased.
Bowl America, which was the seller in the deal with Carlyle, remains open for business as usual following the sale. Bowl America also operates a location in Chesterfield County. It still owns that property, according to county records.
Henrico most recently assessed Parc Place at $15.5 million and the Bowl America building at $4.8 million.
The two properties in Short Pump sold for a total of $23.2 million. (Mike Platania photos)
A Short Pump retail strip and its neighboring bowling alley have new landlords: one a relative mystery, while the other is Gov. Glenn Youngkin’s former firm.
Parc Place at Short Pump, a shopping center at 11736 W. Broad St. with tenants such as PetSmart, Anytime Fitness and Tropical Smoothie Cafe, sold last month for $17.6 million, per Henrico County records.
Days earlier, the adjacent Bowl America Short Pump building at 4400 Pouncey Tract Road sold for $5.6 million.
Both properties are on the eastern side of Short Pump Town Center. Parc Place spans two buildings totaling 83,000 square feet, while Bowl America is the sole tenant in its 35,000-square-foot building.
Parc Place’s new owner is Parc Place Holdings LLC, which county records show is an entity tied to Dipen Patel of Ellicott City, Maryland. David Crotts of Marcus & Millichap’s Institutional Property Advisors division represented the buyer in the deal and said his client wished to remain anonymous.
County records show the Bowl America building’s new owner is The Carlyle Group, the publicly traded, D.C.-based hedge fund of which Gov. Glenn Youngkin was formerly CEO.
It’s unclear whether this is Carlyle’s first real estate deal in the Richmond region, though in the past it has made local business acquisitions. The firm did not respond to requests for comment by press time.
In 2019 Parc Place at Short Pump fell into foreclosure and sold to a California firm in a forced sale for $16.8 million, only to sell a year later in another bank resale for $11.3 million to a joint venture of Charlotte-based firms Auerbach Funds and Elevation Real Estate Group.
Auerbach and Elevation oversaw a renovation and rebranding of the center in 2021. At the time of sale, Crotts said Parc Place was 93 percent leased.
Bowl America, which was the seller in the deal with Carlyle, remains open for business as usual following the sale. Bowl America also operates a location in Chesterfield County. It still owns that property, according to county records.
Henrico most recently assessed Parc Place at $15.5 million and the Bowl America building at $4.8 million.
I thought all the local Bowl America’s had been rebranded since the company sold itself to Bowlero? I know the one near Altria HQ was rebranded under the Bowlero name.
Bowlero is what was formerly AMF.