The Walmart Neighborhood Market property at 7000 Iron Bridge Road in the Watermark Town Center. (Michael Thompson)
The retail anchor of a massive mixed-use development in Chesterfield has a new landlord.
The Walmart Neighborhood Market property at 7000 Iron Bridge Road in the Watermark Town Center sold July 12 for $12.09 million to Hollywood WNM Richmond LLC, according to Chesterfield County records.
That LLC is tied to an unnamed private investor in Florida, according to a release from Capital Pacific, the company that represented the seller, Denver-based Confluent Development.
A Capital Pacific flyer listed $12.55 million as an asking price. Divaris Real Estate also handled the listing.
Confluent Development, through its merger with fellow Colorado firm MVG Development, had owned the 41,000-square-foot building and 5.7-acre parcel since 2014, when it bought the site for $2 million. MVG was the original developer of the property when plans were filed in 2014.
The Walmart store opened in September.
A Confluent spokesperson said the Watermark Walmart property began to be marketed around the same time it opened as part of the company’s practice of selling the stores it builds. The company also built the Walmart Neighborhood Market on Brook Road, which sold in May for $11.7 million.
Watermark is a 400-acre development with more than 400 homes. (Michael Thompson)
Watermark is a 400-acre commercial and residential development headed by TerraForge Communities. According to the Capital Pacific statement, Watermark has more than 420 completed homes and apartments and 50 homes under construction. The flyer states that plans for Watermark call for 1,250 homes and 220,000 square feet of retail and office.
Cushman & Wakefield | Thalhimer brokers Nicki Jassy and Pete Waldbauer are marketing about 20 acres of retail pad sites at Watermark, according to a flyer. Waldbauer deferred questions about Watermark to TerraForge president David Cloak, who could not be reached for comment.
The eight-figure sale of the Walmart at Watermark is one of the larger sales of retail space in Chesterfield thus far in 2016. Another notable deal in the county was the $4.43 million sale of the Irongate Village Shopping Center at 6403 Iron Bridge Road in January.
The Walmart Neighborhood Market property at 7000 Iron Bridge Road in the Watermark Town Center. (Michael Thompson)
The retail anchor of a massive mixed-use development in Chesterfield has a new landlord.
The Walmart Neighborhood Market property at 7000 Iron Bridge Road in the Watermark Town Center sold July 12 for $12.09 million to Hollywood WNM Richmond LLC, according to Chesterfield County records.
That LLC is tied to an unnamed private investor in Florida, according to a release from Capital Pacific, the company that represented the seller, Denver-based Confluent Development.
A Capital Pacific flyer listed $12.55 million as an asking price. Divaris Real Estate also handled the listing.
Confluent Development, through its merger with fellow Colorado firm MVG Development, had owned the 41,000-square-foot building and 5.7-acre parcel since 2014, when it bought the site for $2 million. MVG was the original developer of the property when plans were filed in 2014.
The Walmart store opened in September.
A Confluent spokesperson said the Watermark Walmart property began to be marketed around the same time it opened as part of the company’s practice of selling the stores it builds. The company also built the Walmart Neighborhood Market on Brook Road, which sold in May for $11.7 million.
Watermark is a 400-acre development with more than 400 homes. (Michael Thompson)
Watermark is a 400-acre commercial and residential development headed by TerraForge Communities. According to the Capital Pacific statement, Watermark has more than 420 completed homes and apartments and 50 homes under construction. The flyer states that plans for Watermark call for 1,250 homes and 220,000 square feet of retail and office.
Cushman & Wakefield | Thalhimer brokers Nicki Jassy and Pete Waldbauer are marketing about 20 acres of retail pad sites at Watermark, according to a flyer. Waldbauer deferred questions about Watermark to TerraForge president David Cloak, who could not be reached for comment.
The eight-figure sale of the Walmart at Watermark is one of the larger sales of retail space in Chesterfield thus far in 2016. Another notable deal in the county was the $4.43 million sale of the Irongate Village Shopping Center at 6403 Iron Bridge Road in January.