Real Estate

Jv Buys Suburban Richmond Shopping Center For $11M

by cpexecutive.com posted 7months ago 34 views
The 83,000-square-foot retail property traded for roughly $14 million less than at its previous sale in 2016.: A partnership of Auerbach Funds, Elevation Real Estate Group and Beechmont Acquisitions has purchased Parc Place, an 82,968-square-foot retail center in Richmond, Va., for $10.8 million. Colony Capital, a lender that had previously foreclosed on the asset, sold the property at auction, according to public records. The shopping asset last traded in 2016, for more than $25 million. The new owners are planning to renovate the façade and add dining options to the retail amenities.

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