Kroger anchors the 110,000-square-foot Rutland Commons shopping center. (RBS photo)
A Midlothian-based developer has made another big buy, snapping up a shopping center in Mechanicsville.
The Rebkee Company closed Thursday on the purchase of Rutland Commons, a 110,000-square-foot Kroger-anchored shopping center at 9351 Atlee Road, near Route 301. The sale price was $7.1 million, according to Hanover County records.
Rebkee bought the property, which opened in 2006, from retail developer Crosland.
Dan Hargett, a principal at Rebkee, said his company was attracted to the deal by the location and by Kroger being a strong anchor tenant.
“We felt like it was a great investment,” Hargett said. “It’s a great location, and it’s a beautiful Kroger.”
The shopping center is about 20 percent vacant with four empty storefronts, Hargett said.
Cushman & Wakefield | Thalhimer worked the deal. Brokers Connie Jordan Nielsen and Nicki Jassy of Thalhimer will represent Rebkee as the leasing agents. Thalhimer also represents Rebkee at its Corner at Short Pump development.
Rebkee’s other large deals in recent years include the acquisition of the former Interbake cookie factory near the corner of Broad and Boulevard. The company is planning 178 apartments for the property.
It also bought and then quickly sold the 273,000-square-foot former Wyeth plant adjacent to Interstate 95.
Kroger anchors the 110,000-square-foot Rutland Commons shopping center. (RBS photo)
A Midlothian-based developer has made another big buy, snapping up a shopping center in Mechanicsville.
The Rebkee Company closed Thursday on the purchase of Rutland Commons, a 110,000-square-foot Kroger-anchored shopping center at 9351 Atlee Road, near Route 301. The sale price was $7.1 million, according to Hanover County records.
Rebkee bought the property, which opened in 2006, from retail developer Crosland.
Dan Hargett, a principal at Rebkee, said his company was attracted to the deal by the location and by Kroger being a strong anchor tenant.
“We felt like it was a great investment,” Hargett said. “It’s a great location, and it’s a beautiful Kroger.”
The shopping center is about 20 percent vacant with four empty storefronts, Hargett said.
Cushman & Wakefield | Thalhimer worked the deal. Brokers Connie Jordan Nielsen and Nicki Jassy of Thalhimer will represent Rebkee as the leasing agents. Thalhimer also represents Rebkee at its Corner at Short Pump development.
Rebkee’s other large deals in recent years include the acquisition of the former Interbake cookie factory near the corner of Broad and Boulevard. The company is planning 178 apartments for the property.
It also bought and then quickly sold the 273,000-square-foot former Wyeth plant adjacent to Interstate 95.