A recently acquired shopping center, Merchants Walk, located on West Broad Street in Richmond, Virginia has been purchased for $18.4 million by an affiliate of Hackney Real Estate Partners. The buyer’s identity remains undisclosed.
The 219,972-square-foot center boasts a 98% occupancy rate and is anchored by popular retailers such as Food Lion, AutoZone and JoAnn Fabrics. Cushman & Wakefield’s John Owendoff and Catharine Spangler acted as representatives for the seller during the transaction.
According to Owendoff, “Merchants Walk presents a strong investment opportunity with its stable cash flow potential in one of the nation’s most robust regional economies.”
