The store first opened as Golfsmith in 2014. (Mike Platania photo)
West Broad Village’s biggest landlord has snatched up another one of the few pieces of the neighborhood that it didn’t already own.
Last month an entity tied to CTO Realty Growth purchased the Golf Galaxy retail building at 2000 Old Brick Road for $6.1 million, Henrico records show.
CTO bought the 24,000-square-foot stand-alone building from local real estate firm Capital Square, which purchased it for $5.8 million in 2015.
The deal doesn’t look to have affected Golf Galaxy’s operations; the Dick’s Sporting Goods-owned retailer remains open for business.
CTO and Capital Square have now made two deals in West Broad Village this summer. In June, Capital Square sold CTO the 1-acre grassy area at 2301 Old Brick Road on which Innsbrook-based Capital Square had been planning to build a new corporate headquarters.
Capital Square ultimately scrapped those plans. It continues to own West Broad Village’s apartment section after buying the 339-unit complex for $111 million in 2021.
The Golf Galaxy store was one of three buildings not included in CTO’s $94 million acquisition of the commercial portions of West Broad Village in 2022. The other two buildings in the mixed-use development that CTO doesn’t own are the Aloft Hotel and ACAC gym, which are owned by their respective operators.
In total CTO has spent $101.5 million on West Broad Village real estate.
The Golf Galaxy store first opened in 2014 as an outpost of Golfsmith, a Texas-based chain that fell into bankruptcy in 2016. Dick’s bought Golfsmith at auction and turned some of its stores into Golf Galaxy locations.
The deal for the Golf Galaxy building closed in late July. Henrico County had most recently assessed it at $5.5 million.
Multiple requests sent to CTO seeking comment went unreturned. According to its website, CTO is a publicly traded real estate investment trust with 17 properties in its portfolio.
Since CTO first bought the mixed-use development’s commercial sections five years ago it has signed new restaurant tenants Fogo de Chão and Ford’s Garage. It lost a restaurant tenant in the spring when Carrabba’s abruptly closed. That space remains available.
The store first opened as Golfsmith in 2014. (Mike Platania photo)
West Broad Village’s biggest landlord has snatched up another one of the few pieces of the neighborhood that it didn’t already own.
Last month an entity tied to CTO Realty Growth purchased the Golf Galaxy retail building at 2000 Old Brick Road for $6.1 million, Henrico records show.
CTO bought the 24,000-square-foot stand-alone building from local real estate firm Capital Square, which purchased it for $5.8 million in 2015.
The deal doesn’t look to have affected Golf Galaxy’s operations; the Dick’s Sporting Goods-owned retailer remains open for business.
CTO and Capital Square have now made two deals in West Broad Village this summer. In June, Capital Square sold CTO the 1-acre grassy area at 2301 Old Brick Road on which Innsbrook-based Capital Square had been planning to build a new corporate headquarters.
Capital Square ultimately scrapped those plans. It continues to own West Broad Village’s apartment section after buying the 339-unit complex for $111 million in 2021.
The Golf Galaxy store was one of three buildings not included in CTO’s $94 million acquisition of the commercial portions of West Broad Village in 2022. The other two buildings in the mixed-use development that CTO doesn’t own are the Aloft Hotel and ACAC gym, which are owned by their respective operators.
In total CTO has spent $101.5 million on West Broad Village real estate.
The Golf Galaxy store first opened in 2014 as an outpost of Golfsmith, a Texas-based chain that fell into bankruptcy in 2016. Dick’s bought Golfsmith at auction and turned some of its stores into Golf Galaxy locations.
The deal for the Golf Galaxy building closed in late July. Henrico County had most recently assessed it at $5.5 million.
Multiple requests sent to CTO seeking comment went unreturned. According to its website, CTO is a publicly traded real estate investment trust with 17 properties in its portfolio.
Since CTO first bought the mixed-use development’s commercial sections five years ago it has signed new restaurant tenants Fogo de Chão and Ford’s Garage. It lost a restaurant tenant in the spring when Carrabba’s abruptly closed. That space remains available.