Trader Joe’s-anchored Short Pump shopping center sells for $55M

9.2R ShortPumpStation1 Cropped

Short Pump Station is anchored by Trader Joe’s. (BizSense file photo)

More data on a flurry of year-end commercial real estate deals continues to come in, with a Short Pump strip center the latest to change hands as 2024 came to a close.  

The Short Pump Station shopping center at 11301 W. Broad St. sold late last month for $54.9 million, Henrico County records show. 

The new owner of the Trader Joe’s-anchored center is Nuveen Real Estate, a Chicago-based firm that’s a subsidiary of the Teachers Insurance and Annuity Association of America.

According to its website, Nuveen has over $147 billion of assets under management, including an office tower in Denver, per BizSense sister site BusinessDen

The sale closed Dec. 30. Cushman & Wakefield’s John Owendoff and Thalhimer’s Catharine Spangler worked the deal. The county most recently assessed the 91,400-square-foot shopping center at $41.5 million. 

Short Pump Station was developed in the late 2000s and is home to one of the region’s two Trader Joe’s grocery stores. It’s over 91 percent occupied, with other tenants like Ulta, LongHorn Steakhouse and Petco. 

The seller in the deal was New York-based Wafra Inc., whose portfolio also is valued in the billions. Wafra had purchased Short Pump Station in 2021 for nearly $47 million

Neither Wafra nor Nuveen spokespeople were available for comment. 

Over $320 million worth of commercial real estate sales were finalized in the last days of 2024, with large industrial, retail and multifamily deals all closed just before the calendar turned over. 

Among those sales were the Airport Logistics Center, which sold for $66.9 million; the Dabney Center industrial park, which went for $75.3 million; and The River Lofts at Tobacco Row apartments, which at $123.5 million was the region’s biggest sale of the year

9.2R ShortPumpStation1 Cropped

Short Pump Station is anchored by Trader Joe’s. (BizSense file photo)

More data on a flurry of year-end commercial real estate deals continues to come in, with a Short Pump strip center the latest to change hands as 2024 came to a close.  

The Short Pump Station shopping center at 11301 W. Broad St. sold late last month for $54.9 million, Henrico County records show. 

The new owner of the Trader Joe’s-anchored center is Nuveen Real Estate, a Chicago-based firm that’s a subsidiary of the Teachers Insurance and Annuity Association of America.

According to its website, Nuveen has over $147 billion of assets under management, including an office tower in Denver, per BizSense sister site BusinessDen

The sale closed Dec. 30. Cushman & Wakefield’s John Owendoff and Thalhimer’s Catharine Spangler worked the deal. The county most recently assessed the 91,400-square-foot shopping center at $41.5 million. 

Short Pump Station was developed in the late 2000s and is home to one of the region’s two Trader Joe’s grocery stores. It’s over 91 percent occupied, with other tenants like Ulta, LongHorn Steakhouse and Petco. 

The seller in the deal was New York-based Wafra Inc., whose portfolio also is valued in the billions. Wafra had purchased Short Pump Station in 2021 for nearly $47 million

Neither Wafra nor Nuveen spokespeople were available for comment. 

Over $320 million worth of commercial real estate sales were finalized in the last days of 2024, with large industrial, retail and multifamily deals all closed just before the calendar turned over. 

Among those sales were the Airport Logistics Center, which sold for $66.9 million; the Dabney Center industrial park, which went for $75.3 million; and The River Lofts at Tobacco Row apartments, which at $123.5 million was the region’s biggest sale of the year

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Brian Glass
Brian Glass
9 days ago

This is an excellent shopping center, it’s well located, has excellent access points, and has many strong tenants, in addition to Trader Joe’s. A nine-million-dollar profit in 3 years, was a no-brainer for the seller!

Michael Boyer
Michael Boyer
9 days ago
Reply to  Brian Glass

Yes,nice selection of stores only I find the parking right tight.