First Washington Realty has offered Harbour Pointe Village, a 123,772-square-foot grocery-anchored buying heart in Midlothian, Va., in a transaction organized by JLL. The anchor tenant, Publix Supermarkets, acquired the asset that was 96 p.c leased on the time of closing.
Publix paid $35.8 million for the asset, based on Richmond BizSense. The property beforehand traded in 2012 for $20.8 million, CommercialEdge knowledge exhibits.
Accomplished in 1993 on almost 14 acres, Harbour Pointe Village underwent a beauty renovation in 2017. Its tenant roster features a various mixture of 16 retailers, comparable to Publix, Golds Health club, Crumbl Cookie, Little Caesars, Comcast, Dong’s Karate and Rico’s Mexican Restaurant.
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Positioned at 13602-13728 Hull Road Highway, the buying heart is in an space the place the each day site visitors rely reaches greater than 70,000 automobiles, based on JLL. Harbour Pointe Village serves 104,909 people and about 37,955 households inside a 5-mile radius, with the common earnings of $139,581, based on First Washington.
JLL Managing Administrators Jordan Lex and Dean Sands, along with Director Daniel Naughton, led the Capital Markets workforce engaged on behalf of the vendor.
Grocery-anchored buying facilities in thriving submarkets—significantly within the Southeast—are extremely wanted by buyers, Lex talked about in ready remarks. The Publix at Harbour Pointe Village is without doubt one of the chain’s best-performing areas, attracting greater than 600,000 visits yearly, JLL additionally exhibits.
